Credit rating agency, CRISIL Research has assigned a CRISIL IER fundamental grade of 4/5 (pronounced four on five) to Dewan Housing Finance Corporation. The grade indicates that the company’s fundamentals are ‘superior’ relative to other listed equity securities in India. The rating agency has also assigned a valuation grade of 5/5 to the company.
The assigned fundamental grade takes into account the better-than-industry growth of Dewan Housing’s (India’s third largest housing finance company) consolidated loan book.
The company posted a net profit of Rs 74.97 crore for the quarter ended December 2011, up 21.39% from Rs 61.76 crore in the corresponding year-ago period. Its total income increased by 71.09% to Rs 661.88 crore for the quarter under review from Rs 386.85 crore for the similar quarter of the previous year.
