Net profit of Dewan Housing Finance Corp Ltd's for the quarter ending March more than doubled itself as compared to the same period last year.

This has been possible, claimed the company, because of higher disbursement. Most of this has been in the lower and middle income segment group. These people come from both the semi-urban and urban segments and are the ones, who are looking forward to buy a house with help of loans.

Net profit of the financing company was at Rs. 417.5 million, which is higher than Rs. 213.9 million for the previous period. Loan portfolio was at Rs. 87.58 billion.

The total loan disbursement of the company rose from Rs. 38.65 billion, a rise of 72 per cent over the previous year. The net interest income of Dewan was Rs. 619.7 million, increasing by 75 per cent. This information was given by Kapil Wadhawan to Reuters.

And looking at the current levels, the company expects to continue with momentum in the whole year. It is looking forward to have a loan growth of 30-35 per cent and touch the Rs. 50 billion mark.