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Report: Dewan Housing Finance to resume lending operations

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Report: Dewan Housing Finance to resume lending operations

Dewan Housing Finance Corp. Ltd. is set to resume its lending operations in the next few weeks, a move that could help it secure a better valuation at the end of the resolution process, The Economic Times reported, citing sources familiar with the matter.

The insolvent company is allocating part of its regular monthly recoveries on old retail loans for restarting its lending operations on a smaller scale. Its administrators decided DHFL should start lending about 5 billion rupees per month, starting the next few weeks, the people said. The company's net monthly inflows are estimated to be about 8 billion rupees.

The move is aimed at helping DHFL to strengthen its profile as a going concern and eventually get a better valuation, the outlet reported. The company has been selling loan assets and stakes in businesses as part of its resolution to pay off some of its debt.

Dewan Housing Finance did not respond to emails sent by the publication.