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Selling of loans won't be enough to meet liquidity requirement, says DHFL
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Selling of loans won't be enough to meet liquidity requirement, says DHFL
Oct 15, 2018 2:49 AM

Dewan Housing Finance Corporation (DHFL) has raised about Rs 3,000 crore via securitization, multiple sources told CNBC-TV18 on Monday.

Kapil Wadhawan, chairman and managing director of DHFL, spoke to CNBC-TV18 about the above development.

"We are a retail housing finance company and 80 percent of our loans are in retail segment. I would like to confirm that in the last two weeks or so we have sold down close to Rs 2,500 crore of loans to banks,” said Wadhawan.

Wadhawan said that they are looking to sell close to Rs 9,000 crore of loans.

Talking about the repayment, he said, "We have repaid Rs 5,000 crore worth of obligations in last few weeks. Repayments of Rs 7,500 crore of commercial papers (CPs) coming up by December 2018. CP borrowings will be down to zero once we pay Rs 7,500 crore by December."

“We are already working towards this sell down and we should be able to garner all the cash available to meet these obligations,” he added.

According to him, selling of loans won't be enough to take care of liquidity requirement.

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