Dewan Housing Finance Corporation (DHFL) promoted by the Wadhwan group, commenced operations in 1984. DHFL with a total AUM of INR 494bn is the 3rd largest housing finance company with a market share of nearly~ 4% and operates through a network of ~450outlets. In the March quarter of FY13, DHFL merged its subsidiary First Blue Home Finance (loan book of INR 63bn) with itself. With this the company straddles across the upper, middle and low income housing segment. In FY12, the company divested a chunk of its stake in DHFL Vysya Housing Finance to the promoters of DHFL. DHFL holds a 14.9% stake...