Dewan Housing Finance Corporation rose 2.81% to Rs 212.45 at 15:07 IST on BSE after net profit rose 51.69% to Rs 138.39 crore on 54.78% increase in total income to Rs 1301.36 crore in Q3 December 2013 over Q3 December 2012.
The result was announced during trading hours today, 20 January 2014.
Meanwhile, the BSE Sensex was up 147.08 points, or 0.70%, to 21,210.70.
On BSE, so far 2.05 lakh shares were traded in the counter, compared with an average volume of 1.66 lakh shares in the past one quarter.
The stock hit a high of Rs 215.80 and a low of Rs 205.50 so far during the day. The stock hit a 52-week high of Rs 232.90 on 24 December 2013. The stock hit a 52-week low of Rs 101.50 on 25 September 2013.
The stock had outperformed the market over the past one month till 17 January 2014, rising 19.42% compared with the Sensex's 2.19% rise. The scrip had also outperformed the market in past one quarter, rising 58.78% as against Sensex's 3.17% rise.
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The small-cap housing finance company has an equity capital of Rs 128.33 crore. Face value per share is Rs 10.
Dewan Housing Finance Corporation said housing loans sanctioned during the quarter ended 31 December 2013 amounted to Rs 5938.55 crore as against Rs 3922.13 crore during the quarter ended 31 December 2012, showing an increase of 51%.
Disbursements during the quarter ended 31 December 2013 amounted to Rs 4030.23 crore as against Rs 2983.32 crore during the previous corresponding period, showing an increase of 35%.
During the quarter ended 31 December, 2013, the company has securitised/assigned pool of housing and property loans agregating to Rs 502 crore. These assets have been de-recognised in the books of the company. The company is responsible for collection and getting servicing of the securitized portfolio on behalf of the buyer/investor. In terms of the securitization agreement, the company pays to buyer/ investor on monthly basis the collection amount, subject to retention of agreed interest margin for the company, the firm said in a statement.
Dewan Housing Finance Corporation's main business is to provide loans for purchase or construction of residential houses.
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