Dewan Housing acquires Deutsche PHF

Pursuant to the conclusion of the transaction,which took place on March 25,2011,DPHFL has become a subsidiary of Dewan Housing,it said.

The deal,toutest as the largest-ever in India8217;s housing finance space,was announced in December last year.

Following the acquisition,Dewan Housing Finance Group8217;s combined asset base has increased to over Rs 20,000 crore.

Post-acquisition,DHFL holds a 67.5 per cent equity stake in DPHFL. The balance sheet size of DPHFL is about Rs 5,500 crore.

As of September 30,2010,DPHFL8217;s home loan portfolio stood at Rs 4,813 crore and its net worth was at Rs 524 crore.

It has over 32,000 customers,serviced through 25 branches,14 sales offices and three processing units across the country.