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Cholamandalam DBS post’s strong revenue
growth in the Second Quarter |
Chennai 24 October, 2007
Cholamandalam DBS Finance Limited records a
growth of 172% in Revenue over the
corresponding period last year. The revenue
stands at Rs.214 Crores during the Quarter
July – Sep, 2007 as against Rs.79 Crores
during the same period in the previous
financial year.
The Profit Before Tax (PBT) were up by 273%
at Rs. 27.46 Crores as compared to Rs.7.36
Crores during the same period in the year
2006. The Profit After Tax (PAT) were up by
278% at Rs. 18.02 Crores as compared to
Rs.4.77 Crores during the same period in the
year 2006.
The company posted a growth of 120% in total
disbursements during the period July –
September, 2007 over the corresponding
period of the previous year. The
disbursements were at Rs. 1222 Crores, up
from Rs. 556 Crores during the same period
last year.
The Vehicle Finance division continues to
remain the largest revenue generator for the
company with disbursements growing by 62%
over the same quarter previous year. New and
used vehicles loans grew by 54% and 75%
respectively over the 2nd Quarter ’06.
Personal loans and Home Equity also
continued to demonstrate high growth in
their respective areas.
Personal Loans have expanded to 86
neighbourhood branches in 46 cities, across
India. These branches are in addition to the
existing branches of Vehicle Finance
Business. Home Equity Loans business was
launched in October 2006 in Chennai,
Bangalore, Hyderabad and Coimbatore and now
is available in 14 cities.
During this quarter the company also
launched its Two Wheeler Loans business as
an additional product offering in the
consumer finance segment. It is currently
offered in 11 cities. The company plans to
expand the product offering to the other
locations by the end of this Financial Year.
Speaking on the occasion, Mr. Atul Pande,
Managing Director said "All our businesses
continue to grow strongly, across all
segments, which is demonstrated by the
increasing revenue momentum in the
businesses. The risk management framework
continue to be enhanced and is now
supporting the businesses well. We now have
a comprehensive platform across the lending
businesses, and with our wealth management
business now operational in 40 locations, we
are well penetrated to continue our growth
towards a comprehensive and diversified
provider of retail financial services”.
"Cholamandalam DBS Finance Limited has made
an issue of 14229929 equity shares of
Rs.10/- each on rights basis along with
detachable warrants in the ratio of three
shares for every eight shares held at a
price of Rs.140/- which is now open for
subscription and has filed the letter of
offer with Securities and Exchange Board of
India. The letter of offer is available on
SEBI's website at www.sebi.gov.in as well as
on the Lead Managers website at www.enam.com.
Investment in equity shares involves a high
degree of risk and Investors are advised to
refer to section titled “Risk Factors” of
the aforementioned offer document.”
About Cholamandalam DBS Finance Limited
Cholamandalam DBS is a joint venture between
the Murugappa Group and DBS Bank of
Singapore. The Company, along with its
subsidiaries and affiliates offers
individual and institutional customers a
range of financial services such as,
Personal Loans, Vehicle Finance, Home Equity
Loans, Capital Market Finance, Corporate
Finance, Mutual Funds, Securities Broking
and Distribution of Investment and Insurance
products. The Company’s shares are listed on
Bombay (BSE) and National (NSE) stock
exchanges.
About the Murugappa Group
Headquartered in Chennai, the USD 2 billion
(Rs.8500 crore) Murugappa Group is India’s
leading business conglomerate. Market
leaders in diverse areas of business
including engineering, abrasives, finance,
general insurance, sanitaryware, cycles,
sugar, farm inputs, fertilizers,
plantations, bio-products and nutraceuticals,
its 29 registered companies have
manufacturing facilities spread across 14
states in India. The organisation fosters an
environment of professionalism and has a
workforce of over 30,000 employees.
The Group has forged strong joint venture
alliances with leading international
companies like Roca, Cargill, DBS Bank,
Mitsui Sumitomo and Groupe Chimique Tunisien
and has consolidated its status as one of
the fastest growing diversified business
houses in India.
About DBS
Headquartered in Singapore, DBS Group
Holdings Ltd is the holding company of DBS
Bank and is one of the largest companies in
terms of market capitalisation whose shares
are listed on the Singapore Exchange. DBS
Group and its subsidiaries form one of the
largest banking groups in the region in
terms of shareholders' funds and total
assets as at 31 December 2006, being
approximately SGD18.7 billion (USD12.2
billion) and approximately SGD197.4 billion
(USD129 billion). DBS is a leading bank in
Hong Kong. Beyond the anchor markets of
Singapore and Hong Kong, DBS serves
corporate, institutional and retail
customers through its operations in
Thailand, Malaysia, Indonesia, India, China
and The Philippines. The Bank's credit
ratings are one of the highest among banks
competing in the Asia-Pacific region, and in
Singapore.
For further information, please contact:
Mr. Atul Pande
Managing Director
Cholamandalam DBS Finance Limited
Tel: 044-25307172 |
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