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National Office: DHFL House, 3'" - 7'h Floor,19 Sahar Road, Off Western Express Highway,Vile Parle (East), Mumbai 400 099.T: 91 22 7158 3333 / 2921 2333F: 91 2271583344DHFLlCSD/20 17-2018/ --!i9 .Date : February 1, 2018The ManagerListing DepartmentThe BSE Limited.Phiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai- 400 001.Kind Attn. DCS - CRDStock Code511072The ManagerListing DepartmentNational Stock Exchange ofIndia Limited,'Exchange Plaza', C-1, Block G,Bandra- Kurla Complex,Bandra (East), Mumbai- 400051.Kind Attn. Head - ListingStock CodeDHFLDear Sirs,Ref: Intimation under Regulation 30 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements)Regulations, 2015 (SEBIListing Regulations)We wish to inform you that the Company will be participating in the Edelweiss InvestorConference in Mumbai on 7 February 2018. Any change in the schedule of the saidConference will be communicated promptly to the concerned.The copy of presentation of the Company in connection with the same is enclosed herewithand is being uploaded on the Company's website under 'Investors Section'.Request you to kindly take note of the same.Thanking you,Yours Faithfully,Dewa Housing Finance CorporationLimitedNiti AryaCompany Secre aryFCS No- 5586Dewan Housing Finance Corporation Ltd.Corporate Identity Number (CIN) - L65910MH1984PLC032639Regd. Office: Warden House, 2nd Floor, Sir P.M. Road, Fort, Mumbai-400 001Toll-free: Sales Enquiry: 1800 22 3435 I Customer Care: 1800 3000 1919Email: [email protected]

Turning dreamsinto realityJanuary 2018

I wantevery Indianto own a homeof his ownLate Shri Rajesh Kumar WadhawanFounder Chairman(1949-2000)Our vision is to transform the lives of Indian householdsby enabling access to home ownership.2

Section 1About the Company3

OverviewMore than 3 decades ofexperience in affordablehousing financeStrong managementteam supported by activeBoard of DirectorsCredit appraisal processaligned to target LMIcustomer segmentStrong growth opportunitydemonstrated by healthyCAGR in AUM andProfitability4Presence in 350 locations,with significant penetrationin Tier 2/3 townsOnly pan India HFC withfocus on Lower & MiddleIncome customer segmentHealthy asset qualityreinforced by AAA creditrating by CARE andBrickworks

Key Milestones in the Group JourneyDHFL IPORaised Rs 3.10 bnvia QIP and Pref.Raised Rs 4.86 bn viaAllotmentQIP and Pref.AllotmentRaised Rs 3.04 bnthrough QIPEstablishedDHFLAcquired 50% stake inDLF-Pramerica LifeInsuranceRaised Rs 8.09 bnthrough QIP2 public issues of RetailNCDs (cumulativeRs 140 bn)AcquiredDHFL VysyaSet up Aadhar HFCin collaboration withIFCAcquired First BlueHFC (erstwhileDeutsche PostbankHFC)Sale of 50% stakein DPLI by DHFLat 64X return *Established AvanseFinancial ServicesAcquired 50% stakein Pramerica AMC5* DPLI: DHFL Pramerica Life Insurance Co LtdDHFL PramericaAMC acquiredDeutsche AMC

Financial Services Businesses of the Wadhawan GroupWadhawan Global Capital (WGC) formed in May 2014 to create a holding company for all thefinancial services businesses of the Wadhawan Group - DHFL is the flagship company whereWGC owns 37.32%Integrated financial services platform with businesses in lending, insurance and assetmanagement, having focussed product offerings across each customer vertical as part of multigenerational customer-lifecycle consumer outlookWGC managed by promoters with support of Group Management Centre (GMC), staffed withindustry veterans who provide strategic inputs across group companiesPartnership with global entities (IFC, Pramerica) across multiple businesses in the financialservices spaceUnlisted businesses provide significant potential for value unlocking once they achieve scale inrespective business segments6

DHFL Financial Services GroupWadhawan GlobalCapital (WGC)Marquee equity investors37.32%Dewan HousingFinance (DHFL)AUM:INR 1,012.86 bn100.0%10.85% *36. 78%50.0% DHFL Investments50.0%DirectWGCHoldingAadhar HFCAvanseEducation LoansDHFL PramericaLife InsuranceDHFL PramericaAsset ManagersDHFL GeneralInsuranceAUM:INR 67.50 bn *AUM:INR 17.54 bnAUM:INR 34.98 bnAUM:INR 260.44 bnAUM:INR 1.79 bn74.90%42.76%Marquee debt investors100%LMI focused financial services groupGroup companies with potential for significant value unlockingPartners with marquee organisations like IFC, Prudential Financial Inc. (Pramerica), etc* Merger of DHFL Vysya and Aadhar completed in Q3FY18. Shareholding and AUM reflect combined entity.7AUM and shareholding as on 31 Dec 2017 Total of direct and indirect holding

Section 2Market and Business Overview8

Opportunity in the Housing Finance SpaceHousing units shortfall in lMonthlyhouseholdincome (MHI) –Rs p.m.% ofhouseholds ineach segment645250Customer segments in housing space 40,0007%47FY2220,000-40,0009%All values in million units10,000-20,000LIG,14.0,30%EWS,18.0,38%Total47 mn unitsHIG,5.0,11%All values in million units9MIG ,10.0,21%Target Market24 mn homesDHFL’s targetsegment: LMICustomers22%5,000-10,00031% 5,00033%Current investment in housing: Rs 7 trillion p.a.Investment of Rs 120 trillion required to address housing shortage( Rs 15 trillion p.a.)Sources: Report of the technical urban group (TG-12) on urban housing shortage (2012-17),Ministry of housing and urban poverty alleviation (Sep 2012) Funding the vision — Housing for all by 2022,KPMG Housing Report, Monitor Deloitte ReportIncome classification: EWS ( Rs 1 lakh pa), LIG (Rs 1-2 lakhs pa)

Housing Demand Growth DriversAverage Household Size5.565.55.3GDP Growth Rate (real)4.9Increase in affordability driven by8%Government measures, sustained GDP6%growth rate, lowest mortgage rates in 54%years and stable property FY13FY14Source: GoI, World Bank2011Decrease in household size andIncrease in workforce to be driven byemergence of nuclear familiesexpected bulge in working age populationAge wise 0.8%15-1920-2425-4445-6465-7980 81441037728621719912001201120142050PSource: Census data, 2011 and UN DESA, 201412.1%10%1%010rural towns43.0%10-142%25020%urban migration and reclassification of1.92%500Increasing urbanization led by rural-12.5%2.80% 2.80% 2.84%7505-91,00010.7%Urban Population (mn)0-419811991Source: Census data, 20110%0%Source: Census data, 2011

Significant Presence of HFCsGrowth of housing loans (Banks HFCs)Steady share of HFCsDisbursement (Rs PSource: CRISIL Retail Finance (Housing) Report, Jun 2017Source: CRISIL Retail Finance (Housing) Report, Jun 2017Key Trends in Housing FinanceHFCs have established strong presence in Tier 2/3 townsCredit appraisal process aligned to customer requirementsSuperior customer servicing and effective recovery mechanismsHFCs expected to continue to witness rapid growthDriven by demand for underlying assets, increasing financial penetration and steady property prices11

Salaried customers Salary with pay slip, IncomeTax filings, formal ID andresidence proof, Operativebank ac available Standard and easyunderwriting process Lending done at base rate Dominated by largebanks/HFCs Outskirts of metro/urbancities and semi-urban (Tier2/3) towns Salaried or self employedcustomers Significant share ofundisclosed income Some kind of ID orresidence proof available Lending rates 75-100 bpshigher than base rate Pricing competition more atupper end of marketATS INR 10 lakhs Metro/urban marketsATS INR 10 lakhs & INR 25 lakhsATS INR 25 lakhsOpportunity in the Affordable Housing Segment Rural and semi-urban (Tier3/4) towns Low income housing Customers with cash income No formal ID, residence orincome documents available Need differentiatedcustomer reach /assessment skills forunderwriting Lending rates 150-350 bpshigher than base rate Niche HFC / NBFC Large and mid size HFCsProportion ofHome Loans O/S (Bank HFC)55% of home loanmarket in the subRs 25 lakh space 10L & 25L37% 25L44%12 10L19%Source: CRISIL Housing Finance (Low Cost) Report, October 2016DHFL Focus on ATS of Rs 10-25 lakhs Presence in metro outskirts and Tier 2/3 townsAadhar Focus on ATS of less than Rs 10 lakhs Presence in Tier 3/4 towns

Government Push for Affordable RSINCENTIVESFOR HFCs13 Real Estate (Regulatory & Development) Act, 2016 implementedIncome tax deductions for home loan borrowers retainedFund allocation for housing subsidy schemes (PMAY, CLSS, GJRHFS, etc)increased Affordable housing granted ‘infrastructure’ status– Affordable housing projects eligible to raise ECB upto US 750 mn peryear under automatic routeService tax exempted on construction of affordable housingTax exemption of 100% of profits from construction of affordable housing SEBI allows Debt Mutual Funds to invest in AA and above rated HFCs upto 40%exposure limit vs 25% for other sectors

Pradhan Mantri Awas Yojana: Housing For All By 2022OBJECTIVES KEYFEATURES Aims to construct more than 20 million houses across India by 2022Focus on Economic Weaker Section (EWS) and Low Income Group (LIG)groups in urban areasLaunched in June 2015Central Govt grant of Rs 1,00,000 per house under slum-rehabilitationprogrammeInterest subsidy of 6.5% for EWS/LIG customers for loans Rs 6 lakh (NPVfor 20 years paid upfront)Preference to female/differently abled/older family members during allotmentBenefits extended to Middle Income Group (MIG) in Mar 2017 PMAYSCHEMEFOR MIGCUSTOMERS14 For eligibility of buyer, maximum income set @Rs 18 lakhs pa and maximumcarpet area of house set @ 150 sq mt (1,615 sq ft)No cap on total loan amount; Loan amount eligible for subsidy capped at Rs12 lakhUpfront subsidy upto Rs 2.35 lakh available under the scheme for borrowersNHB nodal agency for HFCs for availing subsidies

DHFL – Market Leader in LMI SegmentFocus on LMI segmentsWith customized product Y17Non-housing loansPurchase of NewHouse PropertyLoan AgainstPropertyPurchase of ResaleHouse PropertyLease RentalFinancingSelf ConstructionPurchase ofCommercial PremisesExtension &ImprovementFY16Customer TypesHousing loansSME Loans9M FY18Average Ticket Size(Rs lakhs)As on 31 Dec 2017DHFL – Key DifferentiatorsMore than 3 decadesof expertise inunderwriting creditfor LMI and selfemployed customers15Tier 2/3 townfocussed distributionnetwork with a dualdistribution strategy(in house outsourced DSA)Carved niche in theMIG and LIGcustomer segmentMaintained a healthyportfolio with lowdelinquency rates byfollowing robustcredit appraisalprocess

Customer ProfileProfession: Farming and other alliedProfession: TeacherMonthly HH income: Rs 15,000 pmProfession: Owner, super marketMonthly HH income: Rs 25,000 pmFamily size: 4 (Husband & 2Monthly HH income: Rs 30,000 pmFamily size: 5 (Parents & 2 Siblings)Children)Family size: 5 (Wife & 3 Children)Stayed in a 1 room-kitchenStayed in a rented 1 room-kitchenStayed in a rented 1 BHKEvery Indian should have a home of his own16

Business Enablers:Pan India Network with High Tier 2/3 Town PenetrationDistribution footprint primarily spreadacross Tier 2/3 towns and outside themunicipal limits of the MetrosFocus on increasing pan Indiapresence and setting up branches inthe untapped LMI marketsSpread across 350 locations in India Note: Map not as per scale. The branchlocations shown are for representativepurposes only and doesn’t reflect allbranches of the company17 Includes two representative offices in London and Dubai; No of branches as on 31 Dec 2017

Business Enablers:Robust Credit Appraisal ProcessLeads generated fromKey DocumentsOwn BranchesIncome Tax ReturnDevelopersSalary SlipBrokers/DSAForm 16BanksBank StatementCall centersSalesKYCCreditPhysical and online check-upInitial InterviewLegalDocument CollectionOperationsLoan DocumentationBuilder Due DiligenceSite VisitsTechnicalStructure of propertyBuilder Business planValuationPre-definedCriteria Met?YesLoan ApprovedNoProposal Sent toHead OfficeCentralised processing centres for greater efficiency and risk managementIn-house legal and technical team appraise applications and In-house civil engineers team conduct technicalevaluationBulk of collections done through ECS and PDCs18

Our Corporate Social ResponsibilitySpent INR 139 mn till Q3FY18Early ChildhoodCare & nancial LiteracyMaharashtra & JharkhandEarly Childhood Care and Education in 1800 Anganwadis inPalghar and 1000 Anganwadis in BokaroSkill Development Centres in Maharashtra, Assam, Meghalaya,Madhya Pradesh and Jharkhand to train 7000 youth in BFSI &Construction trades along with other tradesVillage Transformation in select five villages of Phulambri block,AurangabadRajasthan, UP & JharkhandFinancial literacy & Inclusive Growth programme in Jaipur, Varanasi& Ranchi to develop slums & facilitate transition from informalhousing to formal housing, aligning to the PMAY VisionAssamMid day meals for 17000 children & 3 Food Vans in GuwahatiTamil Nadu & Andhra PradeshFree student homes & holistic care for tribal children in Anaikatti &Nandyal19

DHFL Changing Lives Foundation DHFL has established the DHFL Changing Lives Foundation, to take forward DHFL’s CSRVision of changing lives by encouraging equal opportunity, maximising human developmentand leveraging the aspirations of women, youth and vulnerable populations The DHFL Changing Lives Foundation will manage the DHFL Early Childhood Care &Education (ECCE) CSR programme and other initiatives that could strengthen the overalldevelopment and growth of children, women and communities The DHFL Changing Lives Foundation envisages to foster partnerships, commissionresearch and build knowledge driven transformation of ECCE.

Section 3Business Strategy and Financial Performance21

Robust AUM GrowthDisbursementsAUMAUM Growth yoy %27%1,00030%25%22%Continued focus on LMI customer 3.0695.2242.0285.81,012.910%70.699.5108.5Q3 FY17Q2 FY1800%FY15FY16FY17Housing Loans to maintain dominant shareof DHFL’s product offeringsQ3 FY18Values in Rs bnProduct Mix100%1%6%18%75%Home Loans3%9%16%LAP3%Project Loans3%14%12%17%16%SME FY17Q3FY17Q2FY18Q3FY1825%0%22Affordable housing to lead growth, spurredby Govt focus and targeted subsidyschemesSignificant distribution footprint in Tier 2/3locations; tech initiatives to help increasepenetration while maintaining physicalinfrastructure

Continuous Reduction in Cost of FundsCOST OF FUNDFY15FY16FY17Q3 FY17 Q2 FY18 Q3 FY18Banks10.81%10.10%8.91%9.41%8.64%8.35%Debt Cap Mkts9.54%9.28%8.84%8.94%8.75%8.69%Fixed nt reduction in cost of funds over last7 quarters. driven by successful renegotiationof bank loans COF and increase in share ofdebt capital markets –COF down 120 bps on entire bookCOF on entire bank loan book down by 175 bpsin last 7 quartersLiability MixBanks100% owingsO/S (Rs bn)23Share of Debt Capital Markets up 8% in last 7quartersFY15FY16FY17Q3 FY17Q2 FY18Q3 FY18489.2611.0813.4767.8867.2865.3COF in % p.a as on closing day of the period.Continuous diversification of liabilities andproactive fund management to help reduce costof funds furtherGrow Retail FD by offering innovative products,expanding distribution channels and leveragingtechnology

Superior Risk Management via Asset Liability MatchingNo Asset Liability MismatchOn / Off B-S Loan Book400Loan Book - On B/SLoan Book - Off B/SShare of Off .40FY16FY17Q3FY18As on 31 Dec 2017No Asset Liability Mismatch in short and medium term bucketsSecuritised assets of Rs 90.29 bn in 9MFY18; share of Off B/S Loan Assets at 17% of Total AUMPriority sector guidelines for affordable housing support DHFL strategy of increasing off balancesheet loan assets24All values in Rs bn5.0%0.0%FY15-20077.53-5 Year617.81-3 Year-161.3Upto 1 Year58.40173.2Over 5 .597.0374.6277.610%50015.0%11%114.620020.0%17%

Improving Operating EfficiencyOpex (INR mn)Opex/Income ,705Q1 FY16Q2 FY16Q3 FY16Q4 FY16Q1 FY17Q2 FY17Q3 FY17Q4 FY17Q1 FY18Q2 FY18Q3 FY18015%Significant investment in last 3 years to drive network expansion and improve brand visibilityEfficiency improvement and technological initiatives to drive operating leverageCost to Income Ratio on a steady downward trend25

Superior GrowthPAT (INR mn)AUM Growth 8041,8591,8972,0142,3262,4482,4822,6052,9333,059Q1 FY16Q2 FY16Q3 FY16Q4 FY16Q1 FY17Q2 FY17Q3 FY17Q4 FY17 *Q1 FY18Q2 FY18Q3 FY180260%* Q4FY17 PAT excludes impact of one time income from DPLI sale

Financial Statements (Summary)Total Income *Net Worth *108.27 *79.96 .34Q3FY17Q2FY18Q3FY1846.3650.17FY15FY16Net Interest Income 8Q3FY1860.2659.08FY17Q3FY17Profit After Tax *28.96 Y186.26Q3FY18All values in Rs bn based on DHFL Standalone Accounts27* The impact of the stake sale of DPLI by DHFL (Rs 19.69 bn) in FY17 included6.217.29FY15FY169.27FY17

Key Financial RatiosNet Interest Margin (NIM)NPA .0%FY15FY16FY17Q3FY17Q2FY18Q3FY180%Return on Assets (RoA)1.73%1.65%FY151.52%1.56% *FY16FY17Return on Equity (RoE)1.82%1.59%Q3FY17Q3FY17 Q2FY18 FY17All values based on DHFL Standalone Accounts2817.79%16.44%16.10% ** Impact of stake sale of DPLI by DHFL (Rs 19.69 bn) in FY17 on Net Worth included in calculation of ratios (but impact on PAT excluded)Q2FY18Q3FY18

Way ForwardGrowth to be driven by focus on affordable housing / LMI segmentStable margins through proactive management of liability sources and cost of fundsModeration in operating expenses through efficiency improvement leading to reduction in C/IratioRevenue enhancement through better utilization of branch network and technology initiativesImprovement in profitability parameters (RoA/RoE) through a combination of revenue synergies,lower COF and lower opex ratio29

ShareholdingShareholding OverviewKey Name of Investor1Rakesh Jhunjhunwala *3.19%2Life Insurance Corp. Of India2.70%3Vanguard *2.24%4Dimensional Funds *1.87%5Templeton Funds *1.58%6Aditya Birla Sun Life MF *1.14%6Neuberger Berman *1.00%7Lazard *0.85%9Copthall Mauritius0.84%10Axis MF *0.80%* Held through multiple folio numbers/schemes30As on 31 Dec 2017% Holding

Annexure 1Financial Statements – Q3 FY1831

Financial 18vsQ3FY17)INCOME STATEMENTInterest Income58.3971.5986.5423.1625.0425.209%(-) Interest Expenses44.6054.9066.5418.0019.0318.945%Net Interest Income (NII)13.8016.6920.005.156.006.2621%( ) Non Interest Income1.421.4121.73*0.471.111.14142%(-) Operating Expenses4.485.085.601.391.641.7023%(-) Depreciation0.260.240.230.070.060.079%(-) Provisioning1.051.752.180.451.071.00123%Profit Before Tax9.4311.0233.72*3.724.344.6224%(-) Taxes3.223.734.751.271.411.5623%Profit After Tax6.217.2928.96*2.452.933.0625%Net 1611.04813.41767.80867.15865.34BALANCE SHEETAll values in Rs bn and based on DHFL Standalone Accounts32* FY17 numbers Include one time impact of Gain on Sale of stake in DPLI by DHFL of Rs 19.69 bn

Key Financial RatiosFY15Net Interest Income %3.05%3.03%27.32%26.13%23.63% 23.22%23.00%23.04%Gross NPA %0.95%0.93%0.94%0.95%0.96%0.96%Provision Coverage Ratio (PCR)88.7%101.7%105.3%101.5%107.4%113.5%Total CRAR16.56%16.74%19.12%16.31%17.16%16.32%Tier 1 9.3011.759.409.16Return on Assets (RoA)1.65%1.52%1.56% 1.59%1.73%1.82%Return on Equity (RoE)17.88%17.78%16.10% 18.31%16.44%17.79%Earnings per share (Rs/share)23.8825.0095.768.199.369.76Dividend per share (Rs/share)6.0*8.04.0Cost/Income RatioNet Debt/Equity Ratio3.0 1Note:All values based on DHFL Standalone Accounts* FY15 DPS not adjusted for Bonus issue of 1:1 done in FY16 Impact of stake sale of DPLI by DHFL (Rs 19.69 bn) in FY17 on Net Worth included in calculation of ratios (but impact on Income/PAT excluded)1 Board had declared an interim dividend of Rs 3/share in Q2 FY1833

Annexure 2Management Team34

Strong Management TeamDHFL has a highly experienced and cohesive management team, with average 20 yearsexperience in relevant industriesEXECUTIVE LEADERSHIPMr. Kapil WadhawanMr. Harshil MehtaChairman andManaging DirectorJoint MD & CEOSHARED SERVICESBUSINESS FUNCTIONSMr. Rajendra MirashieMr. Vivek KannanMr. Santosh SharmaMr. Vikas AroraChief Business OfficerBusiness Head – ProjectFinanceChief Operating Officer(COO)Chief Financial Officer(CFO)Head – Risk andCollectionsMr. Rishi AnandMr. Pradeep BhadauriaMs. Jyothirlatha BMr. Pradeep SawantMr. Rajendra MehtaBusiness Head – HousingFinanceBusiness Head – RetailLiabilityChief Technology Officer(CTO)Head - LegalHead – Human ResourcesMr. Chinmay DhobleMs. Niti AryaMr. Bharat PareekMr. Pranab GoelBusiness Head – SME andMortgage LoansCompany SecretaryHead - TreasuryHead – Investor RelationsMr. Santosh Nair35

Vastly Experienced Board of DirectorsMr. Kapil Wadhawan,Chairman & MD (CMD)Joined DHFL in 1996 & appointed CMD in 2009More than 15 years of experience in housingMore than 2 decades of experience in financialservices industrydevelopment & construction industryGraduated in Construction Management fromMBA from Edith Cowan University, AustraliaUniversity of LondonMr. Harshil Mehta,Joint MD & CEOEx MD & CEO of ICICI Home FInanceWorked with ICICI Bank, Transamerica andWhirlpool prior to DHFL GroupMBA from Mississippi State University, USAMr. G.P. Kohli,Independent DirectorFormer MD, Life Insurance Corp (LIC) of IndiaVast experience in insurance, housing,human resources and marketingMr. Vijay Kumar Chopra,Independent DirectorFormer Chairman & MD, Corporation BankFormer Chairman and MD, SIDBIFormer Whole Time Member, SEBIMore than 3 decades experience in banking36Mr. Dheeraj Wadhawan,Non Executive DirectorMr. Mannil Venugopalan,Independent DirectorFormer Chairman & MD, Bank of IndiaFormer Chairman & CEO, Federal BankMore than 4 decades experience in bankingMs Vijaya Sampath,Independent DirectorSenior Partner in a law firm, Lakshmikumaran& SridharanOmbudsperson for the Bharti Group35 yrs of corporate and legal experience

Group Management CentreKapil Wadhawan (Chairman & Managing Director)Group Management CenterProvides strategic direction and enhances synergistic value across the groupProfessionals with relevant expertise in respective fields and reputation for good governanceG RavishankarSrinath SridharanMore than 3 decades ofexperience in Automotive,Financial Services, Healthcare, ITEngineering Services and AirlinesindustryHeld CEO and CFO roles in GE,Jet Airways and GeometricLimitedStrategic counsel for nearly 2decades with leading corporatesacross diverse sectors includingautomobile, e-commerce,advertising, realty and financialservicesM SureshMore than 3 decades ofexperience in Strategy, Marketing,Sales & Distribution functionsacross leading FMCG and BFSIcompaniesFormer MD and CEO at Tata AIA37

Awards and RecognitionKapil Wadhawan awarded as the Best CEO in Financial Service byBusiness TodayDHFL awarded as Leading Housing Finance Company in the NationalAwards for Best Housing Finance Companies organised by CMO Asiaand World Federation of MarketingFY18DHFL awarded” The Best Performing Primary Lending Institutionunder CLSS for MIG” by My Liveable City and knowledge partnerNational Housing Bank.DHFL has been awarded the ‘Dream Companies to work for’ in theHousing Finance Sector by World HRD Congress and CHRO AsiaDHFL won the Industry Award for the excellence in the HomeLoan BankingDHFL and Mr. Kapil Wadhawan honored with the India's GreatestBrands and Leaders Award 2015-2016 organised by AsiaOne andURS Media Consulting Private LimitedFY17DHFL wins the Golden Peacock Innovative Product and ServiceAward 2016 for its innovative "Wealth2Health Fixed Deposit"productDHFL awarded the Best Housing Finance Company in the FinancialServices Sector by CMO Asia and Stars Group38

Annexure 3DHFL Group Associates39

Associate Companies:Aadhar Housing FinanceMerger of DHFL Vysya and Aadhar HFC completed in Q3FY18 resultingin a combined entity with AUM of more than INR 6,000 croreAUMDisbursementsFocus on Economically Weaker Section (EWS) andLow Income (LIG) customer segments6,7504,310992560Q3FY17After merger with DHFL Vysya, business operationsspread across India with a network of 270 branchesIFC has 9.55% equity stake in the merged 3FY18All values in Rs crore

Associate Companies:Avanse Financial 00Launched in 2013 and now India’s second largesteducation loan financing t wise breakup of AUM Domestic Education Loans: 11% Overseas Education Loans : 57% Other Loans: 32%150FY17RevenuesQ1FY18PAT112.1100Business coverage across 14 major educationalmarkets of the country with additional coveragethrough 184 DHFL 18Q3FY180IFC has 20% equity stake in the company41FY16FY17All values in Rs crore

Associate Companies:DHFL Pramerica Life Insurance (DPLI)AUM3,000Share Holder2,5001,9052,0001,500JV with Prudential Financial Inc.* of United States1,000Policy Y18Q3FY18438.7456.95000FY16Presence in life insurance business with focus ontraditional products1500FY17Revenues13001100Transaction involving sale of 50% stake of DHFL inDPLI to a WOS (DHFL Investments Ltd) concluded inMar 20171,142.1920.2900700500364.6300100Network of 114 branches and more than 9,000 agents42PAT-10050.8FY1661.4FY17* Pramerica is the brand name used by Prudential Financial, Inc. (“PFI”) of the USA and its affiliates in select countries outside theUSA. Neither PFI nor any of the Pramerica entities are affiliated in any manner with Prudential PLC, a company incorporated in theUnited Kingdom.16.929.927.3Q1FY18Q2FY18Q3FY18All values in Rs crore

Associate Companies:DHFL Pramerica Asset Management (DPAMC)AUM (Rs Crore)Mutual Funds26,11725,720PMS25,19123,493JV with Prudential Financial Inc.* of United States18,560Launched Mutual Fund (MF) business in 2010 andPortfolio Management Services (PMS) in 2013.Acquired Deutsche Asset Mgmt in 2016.2,030Network of more than 6,200 empanelled distributorsand 1.13 lakh active foliosFY162,107FY172,375Q1 FY18PMS includes Discretionary & Advisory AUMHeadquartered in Mumbai with presence in 23 cities43* Pramerica is the brand name used by Prudential Financial, Inc. (“PFI”) of the USA and its affiliates in select countries outside theUSA. Neither PFI nor any of the Pramerica entities are affiliated in any manner with Prudential PLC, a company incorporated in theUnited Kingdom.2,480Q2 FY182,550Q3 FY18

DisclaimerThis presentation may contain statements about events and expectations that may be “forward-looking,” including thoserelating to general business plans and strategy of Dewan Housing Finance Corporation Ltd. (“DHFL") and itsassociates/subsidiaries/JVs, its future outlook and growth prospects, and future developments in its businesses and itscompetitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to anumber of risks and uncertainties, including future changes or developments in DHFL and its associates/subsidiaries/JVsbusiness, its competitive environment, its ability to implement its strategies and initiatives and respond to technologicalchanges and political, economic, regulatory and social conditions in India. All financial data in this presentation is obtainedfrom the Financial Statements for FY2015, FY2016 and FY2017, and FY2018YTD basis which the ratios are calculated.This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer invitation or asolicitation of any offer to purchase or sell, any shares of DHFL should not be considered or construed in any mannerwhatsoever as a recommendation that any person should subscribe for or purchase any of DHFL's shares. None of theprojections, expectations, estimates or prospects in this presentation should be construed as a forecast implying anyindicative assurance or guarantee of future performance, nor that the assumptions on which such future projections,expectations, estimates, or prospects have been prepared are complete or comprehensive.Thank [email protected]

Investment of Rs 120 trillion required to address housing shortage ( Rs 15 trillion p.a.) All values in million units Total 47 mn units 33% 31% 22% 9% 7 % 5,000 % of households in each segment 5,000-10,000 10,000-20,000 20,000-40,000 40,000 Monthly household income (MHI) - Rs p.m. Customer segments in housing space All values in million .