Aiming to expand its reach and geographical presence, Dewan Housing Finance (DHFL)is looking for strategic alliances and acquisitions.
"DHFL is planning strategic alliances and acquisitions as a part of its growth strategy," DHFL has said in its latest annual report.
The company, which had in 2003 acquired the housing finance arm of ING Vysya Bank and turned it into a separate subsidiary, DHFL Vysya Housing Finance, said that it beleived alliances and acquisitions would help it to expand its geographic presence and customer base at a much faster pace.
However, the company did not give any further details.
DHFL is present over 170 locations across India. The company has aggressive plan to expand even further into the hinterlands of the country.
As on March 31, 2008, DHFL had an asset base of $1.2 billion with a customer base of over 100,000 households.
DHFL is also expanding its pan-India presence by setting up offices across regions in Northern and Northern Eastern India, where it was not present, the report said.
Sensing huge potential amongst the non-salaried class, DHFL has entrusted DHFL Vysya Housing Finance with the onus of evolving techniques to evaluate behavioral trends and credit performance of this segment as well as run a pilot funding programme.
"We expect that we will be able to exploit latent opportunities in this segment to our advantage," the report said.
