DHFL, India’s second largest private housing finance company
DHFL was established by Late Shri Rajesh Kumar Wadhawan (16th April, 1949 – 30th September, 2000), a visionary Indian businessman.
The Founder Chairman observed the sad truth that most Indians couldn’t get a housing loan on fair terms. He believed that owning a home is a critical element to the building of an identity for every Indian. He thus set out on a mission to manage this social need. On April 11, 1984, DHFL was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India. DHFL is the second housing finance Company to be established in the country, however, with a unique mission, which is today benchmarked as a model of financial inclusion in the Indian financial services sector.
While most experts lauded Shri Rajesh Kumar Wadhawan’s altruism, they posed pragmatic apprehensions on the possibility of this Vision becoming a reality. However, that did not influence the visionary’s mission. DHFL disbursed funds from its own equity contribution and had a return of less than 8% at a time when interest rates were about 18%. But, what DHFL ascertained was the difference between those who see things as they are and the visionaries who see things as they can be.
DHFL – Changing Rules, Changing Lives
Over 30 years have passed since the Company’s inception and today DHFL stands strong as one of India’s largest housing finance companies (and the second largest in the private sector). Today, led by Mr. Kapil Wadhawan, the Company is still living the Founder’s Dream and enabling access to home ownership. It is profitably doing what its Founder intended it to do.
DHFL takes pride in its purpose-driven team of enthusiastic people who are willing to carry on the Founder’s vision and transform the housing sector in India by providing affordable housing finance.
The Company has encouraged hundreds of thousands of people to make that upward journey by simplifying financial access and providing them with the privilege of home loan products, insurance services and unique fixed deposit schemes tailor made to suit their needs.
Based in India’s commercial capital Mumbai, DHFL strives continually to reach out to its customers through its extensive network of 278 offices spread across the length and breadth of the country, and international representative offices, in Dubai, UAE and London, UK. DHFL also has tie-ups with leading public and private sector banks namely Punjab & Sind Bank, United Bank of India, Central Bank of India and YES bank to provide home loans to customers through a home loan syndication agreement. DHFL has also set up representative offices in London and Dubai to serve the ever increasing NRI population in these regions. It has also tied up with UAE Exchange to offer its home loan products through the various UAE Exchange centers in the GEC countries.
DHFL has been assigned a rating ‘CARE AAA (Triple A)’ by CARE and ‘AAA’ by Brickworks for various secured long term debt instruments and CRISIL have assigned ‘CRISIL A1+’ rating for short term debt.
Insights that help us and our consumers win
The Founder Chairman had a unique and timeless insight into the character of the majority of Indians who are generally dismissed as high credit risk. They respond unequivocally to trust. They have a very emotional relationship with the idea of their ‘own home.’ To them it isn’t an investment; it is a sanctuary, a symbol of who they are and a safe haven for their loved ones. They will not do anything to jeopardize this symbol of security. This insight was the prime motivation behind DHFL’s business philosophy.
Customer Focused Product Innovation
DHFL is renowned for its customer-driven approach to doing business. In doing so it has continually endeavoured to innovate and reach out to a vast majority of the low & middle income group customers. The Company has been continuously introducing new products and variants to suit the needs of these customers. As a value-added product option to housing finance, the Company provides double protection to insure the life and property of customers. (Terms & conditions apply). DHFL in association with leading financial Insurers in India offers unique home loan linked insurance plans which could be customized to suit customer requirements. Such plans provide security to the family of the borrower in the unfortunate event of the death of the borrower.
Customer-Focused Credit Policies
Our credit policies are enablers to affordable housing finance. The policies have been designed keeping in mind that customers in the LMI category experience are hesitant to approach a normal bank for housing finance. Our policies work around the regular framework of credit policies and go a few steps further by assessing the customer’s willingness to repay and helping them at every stage of their financial awareness and inclusion journey.
Today, DHFL is the first name that comes to mind for the deserving when they think home loans. They see us as a housing finance Company that has transparent business practices. Since none of our business processes are outsourced, we are able to deliver consistent service and manage customer needs effectively. This has led to long-term and fruitful relationships with customers – relationships we cherish.
At DHFL, we believe that financial access on fair terms is everyone’s birth right.
DHFL – Offices
Corporate office: Dewan Housing Finance Corporation Ltd.
10th Floor, TCG Financial Centre,
BKC Road, Bandra Kurla Complex,
Mumbai – 400051
Tel: +91-22 6600 6999 | Fax: +91-22 6600 6998
National office: Dewan Housing Finance Corporation Ltd.
6th Floor, HDIL Towers
Anant Kanekar Road,
Bandra (East), Station Road,
Mumbai – 400051
Tel: +91-22 7158 3333/2658 3333 | Fax: +91-22 2658 3344 | National Toll Free: 1800 22 3435
Registered office: Dewan Housing Finance Corporation Ltd.
Warden House, 2nd floor,
Sir P.M. Road, Fort,
Tel: +91-22 61066800 / 22029900 | Fax: +91-22 22871985