Private sector mortgage lender Dewan Housing Finance Corporation, plans to raise Rs 3500 crore via debt in FY10 to meet loan growth.

Reports suggest that the company intends to raise the funds to meet its disbursement target of Rs 3400 crore in current year. The company is targeting 52 percent rise in loan disbursements in the current financial year.

In FY09, the company has lend Rs 2240 crore to its clients (low and middle income segment) for buying houses in urban and semi-urban.

In a separate announcement, the Board of Directors of the Company at its meeting held on May 11, 2009, inter alia, has approved recommendation of dividend of 25% on Equity Share Capital (Rs 2.5 per share) as final dividend. However the decision is subject to the approval of Equity Shareholders of the Company.
 
The stock closed the day at Rs 75.25, down by Rs 0.85 or 1.12%. The stock hit an intraday high of Rs 80 and low of Rs 72.50.