The promoters of the DHFL are negotiating with private companies and they hope that they will raise a billion dollar (about Rs 6,900 crore) by selling their 50 percent stake.
One of the country’s largest home loan companies, Diwan Housing Finance Corp, i.e., is a net loss of Rs 2,223 crore in the fourth quarter of 2018-19. Banks and investors have a liability of about Rs 1 lakh crore on the company.
This is the biggest loss for the company in the last quarter. Explain that the company is going through a financial crisis due to the security of the last financial year. In the January-March quarter of 2017-18, the profits of Rs 134.35 crore had been profitable during the two year period under debt burden.
DHFL said that the company’s ability to increase capital has greatly reduced and the business has stalled. These expenses have created a serious situation on the ability to continue the business of the company. The company said on Saturday, “The company’s Mali condition is very poor in the quarter due to the slowdown in credit distribution and credit growth after September 2018.
This has affected the company’s performance throughout the year due to this. ‘The company said,’ In the fourth quarter of 2018-19, an additional provision of Rs 3,280 crore has to be made. Because of this, the company has a net loss of Rs 2,223 crore in the fourth quarter and a net loss of Rs 1,036 crore has been made in the entire financial year. ”
According to sources, promoters of DHFL are negotiating with private companies and they expect that they will raise a billion dollar (about Rs 6,900 crore) by selling their 50 percent stake. The promoter of the company, the Wadhwan family, currently holds a 40 percent stake.