At the same time as lenders to distressed Dewan Housing Finance Company Ltd predict increased bids from Oaktree and Piramal, the deteriorating portfolio of the housing finance firm may very well be a explanation for fear.
In line with up to date enterprise figures for October and November, out there on the knowledge centre, DHFL’s retail ebook is claimed to have proven an additional deterioration as additionally the performing portfolio.
Sources aware of DHFL’s knowledge stated that the performing portfolio declined by ₹5,000 crore between August and November this 12 months. The performing ebook of the retail portfolio is estimated to be all the way down to about 55 per cent, they added.
“Whereas the ultimate bids that might be submitted by the entities should not identified, no less than some really feel that there was a substantial worsening of the portfolio, particularly the retail property,” stated an individual conversant in the event.
A big half, or over 90 per cent, of the wholesale ebook can also be stated to be non-performing.
There’s additionally a view that the long-drawn decision course of has weakened the corporate’s monetary place.
However DHFL’s former promoter has been saying that the bidders have undervalued the corporate’s property. In a letter to the lenders, Kapil Wadhwan stated that even the revised bids are abysmally low.
One other supply, too, stated: “There’s inherent worth in DHFL as an organization and it has sizeable property.”
The ultimate bids should be submitted by Monday morning.
Oaktree Capital declined to answer an e-mail question from BusinessLine on whether or not it intends to lift its bid. The same question to Piramal didn’t elicit a response.