Optimistic lenders support the resolution plan: DHFL
New Delhi, September 5 () The indebted mortgage lender DHFL has said that the lenders are optimistic to support the resolution plan that will ensure a positive outcome for everyone.
The consortium of 31 lenders led by Union Bank of India is still working on the resolution.
DHFL has become the poster of the NBFC (non-bank financial company) crisis that afflicted the financial sector after the infrastructure lender ILu0026FS collapsed last September.
At the end of the 2018-19 fiscal year, the search to attract a capital partner with a strong interest in continuing the growth of our retail business has reached a promising phase, DHFL said in its 2018-19 annual report.
Lenders are optimistic to support the resolution plan that will ensure a positive outcome for everyone. We are optimistic to put the company back on the path of glory while maintaining the confidence that your company has witnessed, he said.
In addition, he said the company will originate all future loans with a strong focus on securitization, which will be the impetus for our future growth.
Cross-selling will continue to be another area of strength and the company will build some solid product offerings to complement customer needs, he said.
For fiscal year 2018-19, DHFL recorded a loss of Rs 1,036 million rupees. He achieved a profit of Rs 1,240 crore in 2017-18. Meanwhile, the company failed to pay interest on some of the obligations that expire on September 3. DP HRS