'Fly on the wings of belief.' This sentence captures the essence of all progress made by the human race since the beginning of time. Belief has brought us where we are and belief will lead us to a future of our making. There is only one force that drives us all at DHFL. Belief!
Our founder's belief in his vision. Our founder believed that commercial success and social benefit need not be mutually exclusive. Conventional wisdom said that certain sections of society should never be given housing loans. Their risk profiles could never be managed. This meant that a large portion of India could only dream of owning their homes. Mr. Wadhawan defied this convention. He established DHFL as a company that would provide access to these hapless millions. He looked beyond their risk profiles and put his faith in their character. These were good people. They would not default. His belief has created one of the most pioneering corporations in the housing finance industry. Shri Rajesh Kumar Wadhawan 19492000 Founder Chairman
Our belief in the industry. The state of the housing industry is an indication of a nation's economic and psychological health. When optimism is high, people invest in houses. When people own their own living spaces, they approach life with an enhanced confidence. They begin to take a greater interest in the society in which they own a stake. They drive up the quality of their lives and aspirations. The housing finance industry has a leading role to play in the development of the nation. At DHFL we are certain there will be a great demand for innovative thinking from the industry. Creating and structuring products that are inclusive rather than exclusive. For example the Reverse Mortgage which DHFL has been championing is a product that allows old people, who own property, to live their lives in security and comfort. At DHFL we believe that the housing finance industry will play a key role in transforming India.
Our belief in our people. One team one dream. That's DHFL. We have a perfect mix of experienced people and young energetic professionals. Seasoned veterans who helped the founder set up his vision, working shoulder to shoulder with youthful, idealistic talent fresh out of management school. What they have in common is a belief that we are building a unique corporation that is doing business with tremendous creativity and sensitivity. These people go to great lengths to help our customers achieve their dreams. Often they encounter customers who don't quite understand the loan process or why certain things have to be done. Team DHFL is trained to handle each and every customer as a special one of its kind case. Every customer gets the attention he or she deserves. We believe each and every person we have working on team DHFL is the best person for the job. Our customers are in good hands. Our founder's vision is in good hands.
Our customer's belief in us. Most of the people who walk into our branches for a loan have been referred by our existing customers. To us this is the best endorsement of faith. People come to us with the confidence that we always try to find a way to help them. Our officers are treated as members of their families. Invited to every celebration in the home we helped them buy. Our customers believe we are different from other home loan companies and banks. We spare no effort to redeem their faith in us.
Our belief in the future. It has taken sixty years. But India is now a force to contend with internationally. There is much we have accomplished. There is still a great deal to do. The future is full of promise. Slowly but surely, more and more Indians are moving up from mere subsistence to lives of goals and aspirations. The first and deepest desire of each working Indian is to own a home. At DHFL we know we have promises to keep. We believe the future will demand great effort and will provide great reward to all of us who are committed and engaged with excellence.
Board of Directors Shri Rakesh Kumar Wadhawan Shri R. P. Khosla, IAS (Retd.) Chairman Former Secretary, Govt. of India (Ministry of Steel & Mines) Shri Kapil Wadhawan Shri G. P. Kohli Vice Chairman & Managing Director Former Managing Director of LIC Shri Ashok Kumar Gupta Shri Waryam Singh Director Former Chairman of Punjab & Maharashtra Coop Bank Ltd. Shri R. S. Hugar Shri Sarang Wadhawan (Former Chairman and Managing Director of Corporation Bank) Director Chief Executive Officer Chief Financial Officer Shri Bikrum Sen Shri Prashant Chaturvedi Company Secretary Shri S. Y. Sankhe Auditors M/s. B. M. Chaturvedi & Co. Chartered Accountants Registered Office: Warden House, Sir P. M. Road, Fort, Mumbai 400 001. Telephone : 0222202 9900 Fax : 0222287 1985. Corporate Office: Dheeraj ARMA, Anant Kanekar Marg, Bandra (East), Mumbai 400 051. Telephone : 0222658 3333 (30 lines) Fax : 0222658 3344 email : info@dhfl.com Website : www.dhfl.com Bankers: Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Bharat Overseas Bank Ltd. Canara Bank Central Bank of India Corporation Bank Dena Bank Development Credit Bank Ltd. Indian Overseas Bank Oriental Bank of Commerce Punjab National Bank Punjab & Sind Bank State Bank of Hyderabad State Bank of Travancore Syndicate Bank The Catholic Syrian Bank Ltd. The Federal Bank Ltd. The South Indian Bank Ltd. UCO Bank Union Bank of India (Listed in alphabetical order)
net profit increased by DHFL GROWTH an increase in operating income by 16% 46.5% to 48.40 crore to 332.29 crore loan portfolio stood at OPERATIONAL HIGHLIGHTS (Rs. In Crore) 1996 97 1997 98 1998 99 1999 00 2000 01 2001 02 2002 03 2003 04 2004 05 2005 06 2006 07 an increase in disbursement by 3302 crore and total assets stood at 3580 crore 32.65% as on 31st March, 2007 Sanctions Disbursements Cumulative Disbursements 57.63 102.79 103.29 181.18 206.06 2.85 447.36 525.94 741.46 1,257.02 1,502.89 64.42 92.25 92.39 163.58 161.18 203.04 418.65 468.54 633.76 1,110.30 1,472.87 524.55 616.80 709.19 872.77 1,033.95 1,236.99 1,655.64 2,124.18 2,757.94 3,868.24 5,341.11 to 1472.87 crore FINANCIAL HIGHLIGHTS (Rs. In Crore) 02.89 1600 1257.02 1400 1996 97 1997 98 1998 99 1999 00 2000 01 2001 02 2002 03 2003 04 2004 05 2005 06 2006 07 Gross Revenues 73.21 80.58 85.94 90.95 103.06 1.42 130.31 146.89 163.82 226.80 332.29 Profit After Tax 7.81 10.38 12.00 14.37 16.37 17.07 19.62 22.40 27.10 41.71 48.40 57.35 60.52 76.58 87.42 111.19 1.58 119.91 131.70 189.59 270.66 365.27 Shareholders' Funds Share Capital 1200 1000 1000 741.46 800 525.94 600 400 400 200 200 0 Equity Preference Others 28.00 28.01 28.02 10.00 28.07 12.75 35.80 12.75 35.80 7.75 35.80 5.00 35.80 5.00 50.12 50.12 17.66 2.50 50.12 24.16 2.50 Reserves and Surplus 29.36 32.51 38.56 46.60 62.65 72.03 79.11 90.90 139.48 200.37 288.49 Borrowings from NHB, 231.38 243.57 260.19 345.28 426.59 598.40 749. 994.44 1,470.80 2,192.67 3,7.66 200405 200506 200607 192.40 199.20 166.77 138.80 147.06 144.23 123.02 95.77 76.93 57.05 50.00 422.20 445.70 471.68 527.57 6.35 737.93 948.04 1,125.88 1,529.27 2,288.75 3,301.97 40.00 Loan Outstanding 14 14 25* 20 25 25 Book value per Share (Rs.) 20 22 24 27 28 30 32 35 38 50 56 Disbursements 4.27 4.57 4.41 4.41 5.31 6.12 7.05 8.32 9.22 Note: * Includes one time special 10% dividend to mark 20th Anniversary 332.29 226.80 200.00 27.10 22.40 0.00 20.00 200607 300.00 250.00 130.31 163.82 146.89 100.00 10.00 50.00 0 200203 3.7 200506 Sanctions 0 2.78 200405 41.71 19.62 (Equity) 200304 350.00 30.00 Dividend (%) Equity 200203 Financial Year 48.40 186.52 468.54 Financial Year 60.00 Housing & Other 633.76 418.65 0 200304 Banks, Fis & Others Deposits 1110.30 800 447.36 200203 Earnings per Share (Rs.) 1400 1200 600 1472.87 1600 200304 200405 200506 200607 200203 200304 200405 Financial Year Financial Year Profit After Tax Revenues 200506 200607
PROFILE OF DIRECTORS The details of the Directors including their brief profile are given as follows: Shri Rakesh Kumar Wadhawan is one of the Promoters and nonexecutive Chairman and heads the Board of Directors of the Company. He is also one of our promoters and the founder of the Wadhawan Group. He has over 30 years of wide experience in the housing finance, real estate, civil construction and infrastructure industry. He is a member of various industry bodies and has actively participated in housing related seminars in various countries. He has been a guiding force behind the Group s foray into building residential/commercial complexes and infrastructure projects. He is a commerce graduate from Mumbai University. He is associated with the Company since its inception in 1984. Shri Kapil Wadhawan, son of late Shri Rajesh Kumar Wadhawan, is a Bachelor of Commerce from Bombay University and MBA (Finance) from Edith Cowan University, Perth, Australia. He joined the Board in November, 1996 as an Executive Director and was elevated as Managing Director on 4th October, 2000 and was further elevated as Vice Chairman & Managing Director on 25th January, 2007. He has initiated steps to transform DHFL into one of the leading housing finance institutions in India. He has also played a significant role in shaping policy guidelines on matters relating to the mortgage finance industry. As a result of his efforts, DHFL currently has an asset base of over Rs. 3579.98 c r o r e a s o n March 31, 2007. He has been speaker at seminars on the mortgage finance industry. Shri R. S. Hugar is the former Chairman & Managing Director of Corporation Bank and has vast experience in banking, finance, treasury operations and International transactions. He is presently serving on the board of directors of various companies. He has a Bachelors degree in Economics. He is also a Certified Associate from the Indian Institute of Bankers ( CAIIB ). He has been on the Board of the Company since 31st July, 2002. Shri Waryam Singh is an independent director of our Company. He has over 25 years of experience in banking, finance, civil construction and land development. He was the Chairman of Punjab and Maharashtra Cooperative Bank Limited from 2000 to 2003 and was instrumental in achieving the Scheduled Status for the bank. Shri Singh is a commerce graduate from the Mumbai University. He has been on the Board of the Company since 31st March, 1997. Shri Ashok Kumar Gupta is an independent director of our Company. He has more than 25 years of experience in framing investment schemes, restructuring and other corporate law matters. He is currently serving on the board of directors of various companies and is highly regarded for his experience in legal and accountancy matters. He is a qualified Chartered Accountant. He also has a LL.B degree from the Government Law College, Mumbai. He has been on the Boardofthe Company since25th October, 2002 Shri Sarang Wadhawan, son of Shri Rakesh Kumar Wadhawan, is one of our Promoters. He has done his Masters in International Finance from Clark University, Boston, USA. He joined the Board in October, 2000 as Executive Director. He relinquished his position as Executive Director with effect from the closing of business hours on 31st March, 2005. H o w e v e r, h e c o n t i n u e s t o b e a n o n e x e c u t i v e D i r e c t o r o n t h e B o a r d o f the Company. He has significant exposure in real estate and housing finance industry and is currently the Managing Director of Housing Development And Infrastructure Ltd. Shri R. P. Khosla (Retd. IAS) is the former Secretary to the Government of India and has held senior positions in various Government undertakings in the past. He is presently serving on the board of directors of various companies He has been on the Board of the Company since 17th March, 1993.