DHFL (Dewan Housing Finance Limited) has officially forecasted growth of 30% in home loans for this present fiscal. The Central Government has given a strong push to affordable housing through a slew of measures like infrastructure status, input credit for developers and interest subsidies under the PMAY (Pradhan Mantri Awas Yojana).
DHFL also feels that most of this growth in home loans will be majorly spurred by the smaller towns and cities in India. The company has been scaling up its presence in Tier II and III towns across the country and these are the new growth drivers. The company remains positive about achieving 30% growth and this is an indicator of the strong demand for affordable housing in India.
DHFL previously unveiled its Griha Utsav scheme in July, 2017, which was an exhibition of affordable housing projects and locations along with offering finance based solutions to middle and low income categories. There is an immediate need for the real estate and housing finance sectors to positively respond to the huge demand for affordable and quality housing according to the company. Company officials have lauded the Housing for All by 2022 mission as a major boost for the real estate sector and this should affect the GDP-mortgage ratio positively according to them.
The efforts taken by the Government have led to higher growth in terms of loans for affordable properties while RERA has ushered in more regulatory compliance and overall transparency for the real estate sector, something that will attract new and first-time homebuyers. DHFL posted net profits of 26.1% for the quarter ending in September, 2017. Net profits stood at Rs.293.3 crore with AUM (assets under management) witnessing growth of 25.1%, touching Rs. 94, 089 crore for the quarter.