Dewan Housing Q3 rises by 32%; to issue bonds worth Rs 6000 crore

Dewan Housing Finance on Monday reported 32% year-on-year (yoy) in the third quarter result for December 31, 2016. 

The company recorded Rs 244.77 crore this Q3, a rise of 31.66% from Rs 185.91 crore in the corresponding period of the previous year. Also, the net profit increased by 5.23% compared to Rs 232.61 crore witnessed in the preceding quarter. 

Revenue from operations stood at Rs 2365.51 crore, registering growth of 25.53% year-on-year (yoy) and 9.17% quarter-on-quarter (Qoq). 

In its result meeting held today, DHFL also decided raise funds through bonds and preference shares. 

As per the release, the company will issue Rs 5000 crore of Non-convertible Secured/Unsecured Debentures (NCDs) and Rs 1000 crore in Non-convertible subordinated unsecured debentures. 

Under preference shares, the company will issue shares at aggregrate value of Rs 750 crore including premium thereon, in one or more tranches. 

At 2.06 pm, the shares of DHFL was trading at Rs 282.40 per share on BSE, surging by Rs 11.80 or 4.36%.