Dewan Housing Finance has acquired Deutsche Postbank Home Finance Ltd (DPHFL) for Rs 1,079 crore. Along with Wadhawan Housing Private Ltd, Caledonia Investment and Amber, Dewan Housing has acquired a 100% equity stake in Deutsche Postbank Home Finance from BHW Holding AG of Germany.
Following the acquisition, Dewan Housing Finance Group's combined asset base has increased to over Rs 20,000 crore. Post-acquisition, DHFL holds a 67.5% equity stake in DPHFL. The balance sheet size of DPHFL is about Rs 5,500 crore.
As of September 30, 2010, DPHFL's home loan portfolio stood at Rs 4,813 crore and its net worth was at Rs 524 crore. It has over 32,000 customers, serviced through 25 branches, 14 sales offices and three processing units across the country.crackcrack
