Dewan Hsg to maintain NIM at 3 pct in FY10: MD – Reuters.com


Private sector mortgage lender Dewan Housing Finance expects to maintain net interest margin at 3 percent in 2009/10, with operating costs being covered by higher fee income, a top official said on Friday.
The company's current loan book stood at 61 billion rupees and it expects disbursements to rise over 50 percent in two years, Kapil Wadhawan, vice-chairman and managing director, told Reuters in an interview.
It also aims to reduce net non-performing assets to 0.6 percent this fiscal, from 1.03 percent earlier, on strong recoveries, he added.
The company's venture capital arm, DHFL Venture Capital Fund, also plans to float a second fund this year, to raise 2.5 billion rupees to invest in residential projects, he said.

Dewan Housing holds 45 percent in the venture capital unit.