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Dewan Housing Finance Corporation

BSE: 511072|NSE: DHFL|ISIN: INE202B01012|SECTOR: Finance - Housing
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« Mar 15
Chairman's Speech (Dewan Housing Finance Corporation) Year : Mar '16
Dear Members,
 
 The year gone by saw the global economy still showing signs of
 contraction and many countries still reeling under economic stress. In
 this global gloom, India stands out as an economy that is registering
 steady growth. With DHFL being focused on serving India and its various
 micro- markets, your Company will continue to ride on the benefits of
 this positive growth shoots. In a fast changing and disruptive world,
 your Company embraced innovation and ideas in evolving itself whilst
 remaining resilient in its endeavour to provide a roof over the heads
 of millions of lower and middle income (LMI) customers. The Indian
 Government''s empowering initiatives like Digital India and Make in
 India, are designed to propel our nation to become a world-class
 country. It is projected that by 2020, India will become the world''s
 third largest middle-class consumer market led by China and the USA,
 and your Company will keep evolving to meet the growing consumer needs
 across segments while cementing its dominance over the LMI customer.
 
 EXPLORING MULTIPLE ROUTES TO CREATE LARGER SOCIETAL VALUE
 
 DHFL with its home finance franchise and through its strategic
 additions - asset management through DHFL Pramerica Asset Managers
 Private Limited and life insurance through DHFL Pramerica Life
 Insurance Company Limited, is enabling financial credit and protection
 for the lower and middle income customers. Financial Services that
 compliment business and serve the financial and protection needs of the
 Indian consumer in a more integrated manner remains of interest to your
 Company. Thus, your Company offers complementing services that help the
 discerning Indian consumer earn from his savings (FD) or investments
 (AMC), avail loans to build assets like homes & small businesses (SME
 loans) and life protection for family and self (Insurance) in these
 uncertain times.  Today, all the businesses that your Company has
 acquired has seen significant value creation and synergy with the
 group.
 
 Your Company''s core offering comprises housing loans, SME loans,
 mortgage loans and on the liability product side, a range of fixed
 deposit products. 72% of your Company''s loan portfolio comprises
 housing loans given for purchase of homes, extension & improvements and
 self-construction. Going ahead, your Company sees significant
 contribution also coming from asset management and insurance business,
 mainly by tapping your Company''s customer base with additional
 offerings.
 
 LEADING THE DEMOCRATISATION OF THE LMI WALLET
 
 Nuclear families are fast becoming the norm with 70% of households
 comprising just one married couple, triggering a need for new homes.
 During the previous year, the affordable homes segment received a boost
 with the tweaking of the Real Estate Bill allowing FDI in this segment.
 With demand for housing increasing, home loans will register
 complimentary demand. Your Company with its deeply penetrated network
 and market leadership is in a good position to capitalise on this
 opportunity.
 
 Digital marketplaces have been marching forward, and today reality
 suggests that a click-and- brick business model is essential along with
 brick-and-mortar. Your Company recognises this need and is geared to
 build a customer focused formidable digital play. Your Company is
 engaging with customers digitally, not only to reinforce its offerings
 and services but also to extend advisory services and assist customers
 in their home buying decision.
 
 CREATING AN OUTWARD- ORIENTED PATH TOWARDS FINANCIAL INCLUSION
 
 India needs more than five million homes annually and above 90% of this
 demand is in the affordable segment — homes priced at less than
 US,000. The gap between supply and demand is huge, with supply being
 less than 10% of the demand. Whilst smart cities will be a boon to
 Indians, they will come with a shift of the Indian populace from
 villages to Tier I and Tier II cities, increasing the challenge of
 urbanisation with a shortfall of 20 million homes. 65% of our
 population is less than 35 years of age making our country vibrant and
 dynamic. The Indian youth is resourceful, energetic and demands instant
 gratification. Your Company recognises this inherent consumer need and
 is reaching out to fulfill the soaring ambitions of this segment.
 
 Your Company is attempting to reach out to the needy, whilst spreading
 itself deeper across India. With an employee strength of 2,625, today
 your Company manages an asset base of Rs. 69,523.86 crore. DHFL
 delivered a robust performance with a 22.32% revenue growth of Rs.
 7,316.72 crore for the year ending March 31, 2016. Operational income
 stood at Rs. 7,311.83 crore, an increase of 22.29% on a Y-o-Y basis.
 Your Company''s outstanding loan portfolio grew by 21% to Rs. 61,775.02
 crore as on March 31, 2016. Your Company maintained the highest order
 of credit rating of CARE AAA (Triple A) by CARE and BWR AAA by
 Brickwork.
 
 To reach out to the untapped LMI segment, your Company continued to
 remain focused on its hub-n-spoke model of operations, comprising of
 branches and micro branches which act as customer touch points. Going
 ahead, your Company will look at disruptive technology and innovation
 with a bigger push to reach a larger set of customers. Cross selling to
 current customers through data analytics, identification of spending
 behaviour patterns and sharpened credit appraisal norms are being
 implemented. Technology will be further used to enhance service and
 decision taking at micro branches and drive customer satisfaction.
 
 EMPATHY AND EMPOWERMENT FOR EVERY INDIAN
 
 The words of the RBI governor Dr. Raghuram Rajan We are still a
 relatively poor economy, to wipe a tear from every eye……. strikes a
 deep chord within me. I am glad that DHFL has focused on the LMI
 segment since its formation in 1984 and your Company will maintain that
 thrust. Led by the fundamentals of integrity, commitment to performance
 and innovation your Company''s faith remains unflinching on financial
 inclusion from where its Founder started the journey.  Your Company''s
 tailor-made credit appraisal system stands in good stead with minimal
 NPAs and default, growing its balance asset quality with good health
 and clean recovery records. Your Company will continue to drive
 innovation in India''s housing finance space as it stands firm in its
 commitment to build a sustainable business, deliver value to all
 stakeholders and serve India''s vibrant economy.  Your Company has been
 recognised for its good work by various bodies thus receiving multiple
 awards and acknowledgements.
 
 TECHNOLOGY & TRANSFORMATION POWERED BY HUMAN INGENUITY
 
 Your Company is led by a highly experienced and cohesive management
 team, with an average 20  years experience in relevant industries. Your
 Company is a talent focused, merit driven and a profitable organisation
 that operates in an energetic and multi-cultural environment. Your
 Company in its quest to achieve competitive superiority and scalable
 growth, empowers its employees with relevant training, updates and
 behavioural advancements. This is with a single-minded purpose of
 improving organisational superiority and capability to build leaders of
 tomorrow.
 
 Your Company is a people-focused and talent conscious enterprise,
 operating in a competitive business environment. To achieve leadership
 and scalable growth, your Company has aligned competencies of its human
 capital with technology enablement. Your Company is making significant
 investment in its IT infrastructure to advance to the next-generation
 scalable and flexible technology landscape. Thus, technology will
 continue to be your Company''s growth engine powered by human ingenuity.
 
 MARCHING FORWARD TO BUILD SHARED PROSPERITY
 
 Your Company''s vision was set to reach out to the LMI segment at the
 start of its journey. Today, your Company continues the legacy but with
 greater resilience, higher performance and far- reaching impact. Your
 Company remains committed to deliver economic empowerment to the least
 supported citizens of our country whilst delivering value to all
 stakeholders. Your Company is well poised to leverage an innovation and
 technology-led business model that empowers people, delivers profits
 and protects the integrity of financial services in our country.
 
 Regards,
 
 Kapil Wadhawan
 
 Chairman & Managing Director
 
 DHFL
Source : Dion Global Solutions Limited
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