Dewan Housing Finance Corporation (DHFL) has acquired 50% equity stake in Pramerica Asset Managers Private (PAMC), the asset management company of Pramerica Mutual Fund and Pramerica Trustees (PTC), the trustee for the Pramerica Mutual Fund, from PGLH of Delaware Inc (Prudential). Accordingly, PAMC and PTC have become joint venture entities of Prudential and DHFL. The company has received all necessary approvals in respect of the transaction from Securities and Exchange Board of India and Competition Commission of India.
Dewan Housing Finance Corporation (DHFL) is among the oldest private sector Housing Finance Companies (HFC) in India. The company has reported 17.76% rise in its net profit at Rs 173.28 crore for the quarter ended June 30, 2015 as compared to Rs 147.15 crore for the same quarter in the previous year. The company’s total income has increased by 4.47% to Rs 1653.19 crore for the quarter under review from Rs 1582.48 crore for the corresponding quarter of the previous year.
