Dewan Housing Finance Q4 net up 40 pc

Dewan Housing Finance Corporation Limited posted 40 per cent jump in net profit at Rs 58.65 crore for the fourth quarter ended March 31,2011.

Dewan Housing Finance Corporation Limited (DHFL) today posted 40 per cent jump in net profit at Rs 58.65 crore for the fourth quarter ended March 31,2011.

The company had a net profit of Rs 41.75 crore in the same period last year,DHFL informed the Bombay Stock Exchange.

Total income rose to Rs 434.63 crore during the quarter as against Rs 271.88 crore in the corresponding quarter last year,registering a growth of 59.86 per cent.

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The company has proposed a dividend of 35 per cent

for the year 2010-11.

For the year ended March 31,2011,the companys net profit grew by by 75.9 per cent to Rs 265.13 crore,against Rs 150.69 crore in the previous fiscal.

At the same time,total income of the housing finance firm increased to Rs 1,451.24 crore in 2010-11,compared to Rs 992.55 crore in the previous fiscal.

During 2010-11,home loan sanctions increased to Rs 8,949.48 crore as against Rs 5,273.96 crore in the previous fiscal,an increase of 69.69 per cent.

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Disbursements rose to Rs 6,505.57 crore in compared to Rs 3,865.56 crore in 2009-10 and the loan portfolio stood at Rs 14,111.27 crore at the end of March 2011.