Not defaulted on any financial obligation: DHFL1 min read . Updated: 24 Sep 2018, 04:27 PM IST
DHFL said it has received a re-affirmation of its credit ratings from CARE and ICRA.
New Delhi: Housing finance company DHFL on Monday again asserted that it had not defaulted on any financial obligations and there had been no instance of delay in repayment of any liability. The company’s shares had tanked by over 42% on Friday, in sync with the broader market trend, due to concerns over a liquidity crisis and the exposure of non-banking financial companies (NBFCs) to the beleaguered IL&FS Financial Services.
“DHFL today reiterated that the company has neither defaulted on any bonds or repayment of its financial obligations, nor has there been any instance of delay on any repayment of any liability," a company statement said.
On September 21, DHFL fulfilled its commitment of repaying commercial paper worth ₹ 575 crore and it was on track to repay ₹ 400 crore on September 24, the company said. It added it had received a re-affirmation of its credit ratings from CARE and ICRA.
“Over the past three decades, DHFL has been playing an increasingly transformative role in nation building by expanding home ownership and financial inclusion, transforming the lives of millions of Indians," said Kapil Wadhawan, chairman and managing director of DHFL.
“Backed by its robust financial performance, DHFL holds strong liquidity of approximately ₹ 10,000 crore in the system to serve all its commitments and liabilities," Wadhawan said.
On Friday, shares of Dewan Housing Finance Corporation (DHFL) had nosedived to their 52-week low by falling by as much as 59.67 per cent to ₹ 246.25 on the BSE. The scrip closed the session down by 42.43 per cent at ₹ 351.55.