PNB Housing Finance Reports 25% YoY Increased Net Profit to INR 433 Crore In the first quarter of FY25, PNB Housing Finance Limited demonstrated robust performance across various metrics, reporting a net profit of INR 433 crore
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PNB Housing Finance Limited net profit increased by 25 per cent year-over-year (YoY) and declined by 1.5 per cent quarter-over-quarter (QoQ) to INR 433 crore. In a regulatory filing, the company reported a net interest income growth of 4 per cent YoY and 3 per cent QoQ to INR 651 crore. Operating expenditure also increased by 27 per cent YoY and 8 per cent QoQ to INR 190 crore. Net interest margin stood at 3.65 per cent in Q1 FY25 as compared to 3.65 per cent in Q4 FY24 and 3.86 per cent in Q1 FY24. Gross Margin, net of acquisition cost, stood at 4.03 per cent in Q1 FY25
The company saw an 11 per cent YoY and 2 per cent QoQ loan asset growth to INR 66,896 crore as on 30th June 2024. Similarly, retail loans grew by 14 per cent YoY and 3 per cent QoQ to INR 65,157 crore as on 30th June 2024. Within Retail, affordable loan assets are at INR 2,361 crore and corporate loans are at INR 1,829 crore as on 30th June 2024 reduced by 46 per cent as compared to 30th June 2023.
Business outlook
The company has 303 branches or outreach locations of which, 160 branches in affordable business presence with dedicated 50 branches for emerging segment and 93 branches for prime segment
PNB Housing's capital to risk asset ratio (CRAR) based on IndAS stood at 29.50 per cent as on 30th Jun 2024, of which Tier I capital is 28.43 per cent and Tier II is 1.07 per cent as compared 29.93 per cent as on 30th Jun 2023, of which Tier I capital was 28.15 per cent and Tier II was 1.78 per cent.
Girish Kousgi, managing director & CEO said, "The Company's focus on growth, asset quality and profitability are yielding results as evidenced by the increased contribution from high-yielding segments, such as the affordable segment and emerging markets, which accounted for over 30 per cent of retail disbursement during the quarter. Our consistent efforts have enabled us to resolve the NPA accounts, thereby reducing our total GNPA to 1.35 per cent as on June 30, 2024. The Government's commitment to inclusive growth is demonstrated by the expansion of the PMAY scheme, which includes the provision of 3 crore additional houses in urban and rural areas. This is a substantial stride toward the realisation of the government's vision of "Housing for all." The Company is well-positioned to capitalise on this opportunity with our Pan India presence through 303 branches, including dedicated160 branches for the affordable segment."
