Your Company has completed 30 years of living by the Vision laid down
in 1984 by its Founder Chairman, Late Shri Rajesh Kumar Wadhawan of
''every Indian to have a home of his own''.
This Vision has assumed greater importance today for your Company and
India, as the country''s population of 1.2 billion suffers a housing gap
of 63 million units. DHFL will play a crucial role in the Government''s
''Mission Housing'' programme to alleviate the housing gap in India.
About your Company
Your Company has serviced millions of customers, majority accounting
for small ticket loans (average loan size being below Rs. 20 lakh).
During FY 2014, DHFL integrated the erstwhile First Blue Home Finance
Ltd. operations with its own and in FY 2013-14 the merged entity
reported a 17% PAT and 25% disbursement increase. Your Company is set
to grow its asset base of Rs. 44,000 crore to Rs. 1 lakh crore by 2017.
The recent foray into insurance through DHFL Pramerica Life Insurance
Company Ltd. empowers your Company to provide customers with the option
of insurance to cover risks and safeguard their family.
By providing all consumer groups with relevant housing loans,
insurance, education loans, fixed deposits and small savings schemes,
your Company has emerged as one of the leading financial services
companies in India.
The next leap
Three decades ago, DHFL was amongst the first housing finance companies
in India to focus on the country''s semi- urban and low middle income
segment. I am happy to say that we stayed the course and contributed to
the cause of independent home ownership in what is perhaps the largest
semi-urban population cluster in the world.
DHFL''s relevance in its business continues to get increasingly
pronounced with every passing year. Rural India is more prosperous
today than ever, marked by a gradual transition of subsistence
agriculture to a commercially viable model, thus leading to greater
aspirations to build bigger and better homes. Despite these positive
realities, mortgage finance is still under-penetrated at only 9% of
India''s GDP against double digit penetration in peer ASEAN countries.
At DHFL, we perceive an opportunity in this mismatch - there is a large
community of customers who are credible but do not possess adequate
income proof; they are trustworthy but remain unbanked.
Your Company continues to respond to this reality with a customised
business strategy encompassing proprietary appraisal methodologies
extending beyond simplistic documentary evidence. Your Company
continues to balance organic growth with strategic acquisitions,
catalysing the growth of its loan book, revenues and profits.
Your Company widened its presence across semi-urban locations in FY
2014, which will translate into enhanced customer access. Your Company
is not only expanding its reach but evolving its systems and processes
to build a holistically sustainable business model. There are a number
of immediate factors underlining our optimism. The country''s economic
indices have shown an upward movement after a prolonged slowdown. The
new Government appears focused in strengthening the cause of
infrastructure, housing included. DHFL strengthened its reach and
offerings during the slowdown and is now well poised and equipped to
capitalise effectively on the economic recovery.
We invite you to be a part of India''s exciting housing finance story
and seek your active cooperation in our journey ahead.
Chairman & Managing Director