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Paid Rs 30,000 crore to creditors since September 1: DHFL

DHFL was in news for liquidity issues and allegations of syphoning off bank loans through layers of shell companies

twitter-logo PTI        Last Updated: May 11, 2019  | 14:12 IST
Paid Rs 30,000 crore to creditors since September 1: DHFL

Housing finance firm DHFL Friday refuted "unwarranted speculation" over its debt repayment ability, saying it has made payments of over Rs 30,000 crore towards interest and principal since September.

DHFL was in news for liquidity issues and allegations of syphoning off bank loans through layers of shell companies.

In a regulatory filing, DHFL said that over the last week there has been a lot of unwarranted speculations in the market about the continuous weakening of DHFL's credit profile as a servicer.

"We would like to place on record that the slowdown in business activity in the industry has not had any adverse impact on DHFL's debt repayment ability or loan servicing and collections of the company," it said.

Since September 24, the company said, it has made more than Rs 30,000 crore of principal and interest payments to its creditors including its fixed deposit holders.

"Please note that from a servicing standpoint, collection efficiency has remained over 99 per cent every month since September 2018," it added.

Citing data on its collection efficiency and ECS repayment return rates, DHFL said all the factors show that there has not been any impact on collections and servicing activity of the company.

Furthermore, business infrastructure and delivery have been maintained at almost the same levels since the crisis began in September 2018, the filing said.

DHFL's shares closed at Rs 116.35 apiece on BSE, almost flat over Thursday close.

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