Company History - Dewan Housing Finance Corporation
YEAR EVENTS
1984 - The Company was incorporated in the State of Maharashtra on
11th
April, in the name of Dewan Housing Finance & Leasing Co.
Ltd.,
and obtained the Certificate for Commencement of Business on
26th
April, 1984. The name of the Company was changed to Dewan
Housing Development Finance Ltd., and a fresh certificate was
obtained on 26th September.
- The Company undertook provision of housing finance to
individuals, cooperative societies, corporate bodies or their
nominated employees, groups of persons, etc., and leasing of
commercial and residential premisses to reputed companies.
- 700 No. of equity shares subscribed for by signatories to the
Memorandum of Association. 24,99,300 No. of equity shares
then
issued at par of which 9,99,300 shares were reserved and
allotted
on a firm basis. The remaining 15,00,000 shares were offered
for
public subscription during December 1984 (all were taken up).
77,900 No. of equity shares forfeited.
1990 - 5,00,000 No. of equity shares of Rs 10 India on private
placement
basis. 50,000 shares out of the forfeited shares issued to
Union
Bank of India.
1991 - 60,42,425 Shares issued.
1994 - The Company allotted 90,33,125 Rights equity shares of Rs 10
each
for cash at a premium of Rs 5 aggregating Rs 1354.96 lakhs on
Right basis in prop. 1:1. The Company also preferentially
placed 40,00,000 No. of equity shares at a premium Rs 5 per
share
with the promoters and 60,00,000 shares at a premium of Rs 25
and
Bodies Corporate.
- The Company has conducted in-house training programmes in
diverse
fields for all its employees to keep them up-to-date with the
sweeping changes taking place in the economic scenario.
1995 - The Company has opened an additional branch at Nagpur, taking
its
total branches and offices all over the country to 28.
- The Company has been awarded a CARE-AA (FD) rating for the
Fixed Deposit Schemes by Credit Analysis and Research Ltd.
(CARE), which is a rating offered for High Investment Grade
Securities.
- The Company has introduced various welfare measures including
an
`Educational Loan Scheme' for reimbursing employees who wish
to
go in for higher education; `Concessional Housing Loan
Scheme'
for those employees who want to acquire a house.
1996 - The performance of the company was adversely affected due to
the
tight liquidy scenario and the general decline in the demand
for
real estate.
1997 - Dewan Housing Finance Corporation Ltd (DHFCL) is the largest
family owned housing finance company and is a part of
Wadhvani
group which has diverse interests, including real estate
development.
- Dewan Housing Finance Corporation Ltd (DDHFL) is coming out
with a private placement of fully-secured redeemable
non-convertible debentures for raising Rs.50 crore. Of this,
Rs.10 crore is open for retail investors while the remaining
is
for institutional investors and the Government.
- The Company has introduced a novel scheme linking housing
loans
with a Double Protection Plan, which incorporates a free
accident-risk cover and property insurance to the extent of
the
loan liability.
1998 - Dewan Housing Finance Corporation Ltd has introduced a new
concept called home equity loan scheme.
- The Company also introduced home improvement loans for
repairs
and renovation and extension loans, though other housing
finance
companies already offer such schemes.
1999 - This company is one of the prominent players in the housing
finance industry.
2000 - Dewan Housing Finance Corporation, second largest private
sector housing finance company in India, has developed its
own
brand image in the last 15 years through its 30 branches in
medium sized cities like Baroda, Nagpur, Visakhapatnam,
Shimoga, etc.
- The company has also entered into an agreement with Aptech
Ltd
for software solutions to its existing housing finance
business
to streamline its customer services.
- Dewan Housing Finance Corporation has opened a new branch at
Jayanagar, Bangalore, taking its presence in Karnataka to 28
locations.
- The Company has launched a rights issue of Rs 16.80 crore in
the
ratio 1:3 in order to fund asset growth and augmentation of
the
capital base.
- The Company has entered into an agreement with
indiaproperties.com to promote its home finance services on
its
site.
- The Company has appointed Aptech Ltd. for providing the
software
solution for enabling the company to be web-enabled in its
business approach.
- The Company in a bid to expand laterally and change its focus
from
housing finance, will be venturisng into consumer finance.
- Dewan Housing Finance Corporation Ltd. is diversifying into
finance for
consumer durables, vehicles and personal loans.
- Dewan Housing Finance Corpn. has launched Home Loans Plus a
new
Scheme whereby finance would be provided for consumer
durables, vehicles
personal loans.
- Mr. Rajesh Wadhawan, Chairman of the company, and one of the
pioneers of the
housing finance industry died after a prolonged illness on
30th September.
- The Company appointed Rakesh Wadhawan as their new
chairman and
Kapil Wadhawan as the Managing Director.
2001 - The Company has entered into an agreement with the National
Insurance Company
for providing `earthquake insurance cover'.
2003-Shri S. D. Khosla and Abdul Hasib, Directors have resigned from
the Board of the Company.
2004
-Dewan Housing Finance Corporation Ltd has informed that pursuant to
the application made to The Ahmedabad Stock Exchange (ASE) and The
Delhi Stock Exchange (DSE) for delisting of securities of the
company, the Company has received an intimation from The Ahmedabad
Stock Exchange that the share/securities of the Company will be
delisted from ASE with effect from January 16, 2004.
-Dewan Housing Finance Corporation Ltd has informed that the Company
has signed the Loan Agreement with Asian Development Bank (ADB),
Philippines for availing a Term Loan assistance of US$ 20 million
2008
- Dewan Housing Finance Corporation Ltd (DHFL) opened two more branch
offices at Nellore and Kadapa in Andhra Pradesh. Now, DHFL has a
network of 72 branches and 116 service centres across the country.
2010
- DHFLs HR team win Global Greentech Award for Technology Excellence
in HR.
- Mr Kapil Wadhawan wins UDHAN Award for the Year 2010 by Navbharat
Times.
- Indias Top 100 Best Companies to work for - Great Place To Work
Institute, India in Association with Economic Times.
- DHFL is now Power Brand.
2011
- DHFL wins Greentech HR Excellence Award 2012 for Best
Strategy(Gold Award).
- DHFL among Indias 50 Biggest Financial Companies in India.
- DHFL becomes Life time corporate member of with The Indian
Insitution of Valuers (India).
- DHFL Wins Realty Plus Newsmaker of the Year-2011.
- 2nd Asias Best Employer Brand Award for Excellence in HR through
Technology.
2012
- DHFLs Marketing Head Super Achievers Award, at 11th Indira Super
Achievers Awards for Professional Excellence.
- DHFLs Group HR Warrior Awards. - A recognition for the Talent,
Competence and Skills of HR Professionals using the MAD Approach -
Making a Difference 2012.
- DHFL wins Marketer of Year Realty Plus Excellence Awards of the
Year - 2012.
- DHFL is among most trusted Financial Brands in India Brand Trust
Report.
2013
- Dewan Housing Finance Corporation has received approval from the
Hon'ble Delhi High Court for amalgamation of First Blue Home Finance
Ltd.
-Dewan Housing Finance Corporation has Joint Venture with Prudential
Financial Inc. by way of acquisition of 50% Equity stake in DLF
Pramerica Life Insurance Company Ltd.
2014
-DHFL, Prudential Financial, Inc. to expand partnership; form asset
management joint venture for Indian customers.
-DHFLs credit rating upgraded to CARE AAA (Triple A).
- The Company has approved the acquisition of 50% of the equity share
capital of Pramerica Asset Managers Pvt Ltd. (PAMC), the asset
management company of Pramerica Mutual Fund (PMF).
2015
- DHFL launches a unique Fixed Deposit Product DHFL Wealth2Health
- DHFL wins my FM stars of the Industry award for Excellence in Home
Loan Banking
-The Company has allotted the Bonus Shares to its shareholders in the
Ratio of 1:1.
2016
- DHFL wins the Golden Peacock Innovative Product and Service Award
(GPIPSA)
2017
-Dewan Housing has declared an Interim Dividend for the financial
year 2017-18 of Re.3/- (Rupee Three Only) per share i.e. @30% on the
equity shares of Rs.10/- each.