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Dewan Housing Finance Corporation Ltd. Company History and Annual Growth Details

YEAR EVENTS
1984 - The Company was incorporated in the State of Maharashtra on 11th
April, in the name of Dewan Housing Finance & Leasing Co. Ltd.,
and obtained the Certificate for Commencement of Business on 26th
April, 1984. The name of the Company was changed to Dewan
Housing Development Finance Ltd., and a fresh certificate was
obtained on 26th September.

- The Company undertook provision of housing finance to
individuals, cooperative societies, corporate bodies or their
nominated employees, groups of persons, etc., and leasing of
commercial and residential premisses to reputed companies.

- 700 No. of equity shares subscribed for by signatories to the
Memorandum of Association. 24,99,300 No. of equity shares then
issued at par of which 9,99,300 shares were reserved and allotted
on a firm basis. The remaining 15,00,000 shares were offered for
public subscription during December 1984 (all were taken up).
77,900 No. of equity shares forfeited.

1990 - 5,00,000 No. of equity shares of Rs 10 India on private placement
basis. 50,000 shares out of the forfeited shares issued to Union
Bank of India.

1991 - 60,42,425 Shares issued.

1994 - The Company allotted 90,33,125 Rights equity shares of Rs 10 each
for cash at a premium of Rs 5 aggregating Rs 1354.96 lakhs on
Right basis in prop. 1:1. The Company also preferentially
placed 40,00,000 No. of equity shares at a premium Rs 5 per share
with the promoters and 60,00,000 shares at a premium of Rs 25 and
Bodies Corporate.

- The Company has conducted in-house training programmes in diverse
fields for all its employees to keep them up-to-date with the
sweeping changes taking place in the economic scenario.

1995 - The Company has opened an additional branch at Nagpur, taking its
total branches and offices all over the country to 28.

- The Company has been awarded a 'CARE-AA (FD)' rating for the
Fixed Deposit Schemes by Credit Analysis and Research Ltd.
(CARE), which is a rating offered for High Investment Grade
Securities.

- The Company has introduced various welfare measures including an
'Educational Loan Scheme' for reimbursing employees who wish to
go in for higher education; 'Concessional Housing Loan Scheme'
for those employees who want to acquire a house.

1996 - The performance of the company was adversely affected due to the
tight liquidy scenario and the general decline in the demand for
real estate.

1997 - Dewan Housing Finance Corporation Ltd (DHFCL) is the largest
family owned housing finance company and is a part of Wadhvani
group which has diverse interests, including real estate
development.

- Dewan Housing Finance Corporation Ltd (DDHFL) is coming out
with a private placement of fully-secured redeemable
non-convertible debentures for raising Rs.50 crore. Of this,
Rs.10 crore is open for retail investors while the remaining is
for institutional investors and the Government.

- The Company has introduced a novel scheme linking housing loans
with a Double Protection Plan, which incorporates a free
accident-risk cover and property insurance to the extent of the
loan liability.

1998 - Dewan Housing Finance Corporation Ltd has introduced a new
concept called home equity loan scheme.

- The Company also introduced home improvement loans for repairs
and renovation and extension loans, though other housing finance
companies already offer such schemes.

1999 - This company is one of the prominent players in the housing
finance industry.

2000 - Dewan Housing Finance Corporation, second largest private
sector housing finance company in India, has developed its own
brand image in the last 15 years through its 30 branches in
medium sized cities like Baroda, Nagpur, Visakhapatnam,
Shimoga, etc.

- The company has also entered into an agreement with Aptech Ltd
for software solutions to its existing housing finance business
to streamline its customer services.

- Dewan Housing Finance Corporation has opened a new branch at
Jayanagar, Bangalore, taking its presence in Karnataka to 28
locations.

- The Company has launched a rights issue of Rs 16.80 crore in the
ratio 1:3 in order to fund asset growth and augmentation of the
capital base.

- The Company has entered into an agreement with
indiaproperties.com to promote its home finance services on its
site.

- The Company has appointed Aptech Ltd. for providing the software
solution for enabling the company to be web-enabled in its
business approach.

- The Company in a bid to expand laterally and change its focus from
housing finance, will be venturisng into consumer finance.

- Dewan Housing Finance Corporation Ltd. is diversifying into finance for
consumer durables, vehicles and personal loans.

- Dewan Housing Finance Corpn. has launched Home Loans Plus a new
Scheme whereby finance would be provided for consumer durables, vehicles
personal loans.

- Mr. Rajesh Wadhawan, Chairman of the company, and one of the pioneers of the
housing finance industry died after a prolonged illness on 30th September.

- The Company appointed Rakesh Wadhawan as their new chairman and
Kapil Wadhawan as the Managing Director.

2001 - The Company has entered into an agreement with the National Insurance Company
for providing 'earthquake insurance cover'.

2003-Shri S. D. Khosla and Abdul Hasib, Directors have resigned from the Board of the Company.


2004

-Dewan Housing Finance Corporation Ltd has informed that pursuant to the application made to The Ahmedabad Stock Exchange (ASE) and The Delhi Stock Exchange (DSE) for delisting of securities of the company, the Company has received an intimation from The Ahmedabad Stock Exchange that the share/securities of the Company will be delisted from ASE with effect from January 16, 2004.

-Dewan Housing Finance Corporation Ltd has informed that the Company has signed the Loan Agreement with Asian Development Bank (ADB), Philippines for availing a Term Loan assistance of US$ 20 million

2008

- Dewan Housing Finance Corporation Ltd (DHFL) opened two more branch offices at Nellore and Kadapa in Andhra Pradesh. Now, DHFL has a network of 72 branches and 116 service centres across the country.
 
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