Mumbai: In a deal tautest as the largest-ever in India's housing finance space, Dewan Housing said on Tuesday that it has Finance acquired Deutsche Postbank Home Finance Ltd (DPHFL) for Rs 1,079 crore.

Dewan Housing, along with Wadhawan Housing Private Ltd, Caledonia Investment and Amber completed the acquisition of a 100 per cent equity stake in Deutsche Postbank Home Finance from BHW Holding AG of Germany, Dewan Housing Finance informed the Bombay Stock Exchange.

Following the acquisition, Dewan Housing Finance Group'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, DPHFL'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.

(Agencies)