DHFL eyes portfolio acquisitions

Dewan Housing Finance Corporation (DHFL) is on the lookout for portfolio acquisitions worth Rs 100 crore to Rs 150 crore.

Speaking to mediapersons, Kapil Wadhawan, managing director, DHFL, said that the company was on the lookout for buying housing loans worth Rs 150 crore to increase its asset base.

DHFL is also in the process of raising about Rs 100 crore to shore up its capital adequacy ratio.

Wadhawan said the company will be raising convertible bonds worth Rs 100 crore and look at various options before March 31, 2006. However, he declined to give further details. The networth of the company will increase to Rs 340 crore with the raising of convertible bonds during the current financial year.

At present, DHFL's capital adequacy ratio is about 15 per cent, the minimum statutory requirement. DHFL plans to increase its disbursements to Rs 1,000 crore by the end of the current financial year from Rs 628 crore the previous year.