Dewan Housing Finance is on course to raise ?50,000 crore
Dewan Housing Finance looks to raise a major chunk of its required ?50,000 crore this fiscal from banks, external commercial borrowings and capital markets, as urbanisation, increase in workforce, nuclear families and affordability are driving demand, Santosh Nair, president and chief business officer of the company, said. In April, Dewan Housing Finance raised ?1,000 crore through masala bonds. In June, the firm raised ?11,000 crore through non-convertible debentures. The current investment in housing is estimated at ?7 trillion and India requires ?120 trillion to meet its housing shortage needs, according the company. Dewan Housing Finance is targeting two categories of households — one with an income of between ?20,000 and ? 40,000 per month and the other in the ?10,000-?20,000 bracket. Housing finance companies are growing at a CAGR of up to 18%, according to CRISIL Retail Finance (Housing) Report.
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