pnb housing finance: PNB Housing Finance expects 40 more disbursements this fiscal year: MD & CEO Kousgi | Tech Rasta

The domestic housing finance sector is experiencing strong demand after the pandemic and PNB Housing Finance, the country’s fourth largest player. Disbursement is expected to grow at a strong 40% this fiscal year. said the head of the company during the coronavirus pandemic The housing shortage in the country is increasing due to mobility issues. But after that, demand remained healthy, said Girish Kousgi, managing director and chief executive of PNB Housing Finance.

“If you look at the real estate area The pace started a year and a half ago and now we’re just going through a journey. Thus, with the real estate boom coupled with the economic activity in the country and the high housing shortage. Opportunities are still very high. All in all, I feel strong demand and we are witnessing this.

“I think this year We will be able to show 40 percent growth in disbursement and loan account growth of nearly 10 percent,” Kousgi told PTI in an interview.

In the first half ending in September of the current fiscal year 2022-23, this city-based mortgage firm posted a 49.3% increase in net profit at Rs 7045 crore.

The top 5 Mortgage Companies (HFCs) are HDFC Ltd with a market share of 41.8% as of the end of March 2022, followed by LIC Housing Finance (18.5%), Indian Bulls Housing Finance (%). 4.4); PNB Housing Finance (4.2%) and Can Fin Homes (2%).

The remainder of the market 29.2% is made up of other players.

Total loans outstanding by HFCs at the end of March 2022 stood at Rs.12.2 trillion, a nearly 11 percent increase from the previous budget.

Kousgi said this year was much better than last year.

“And since next year We plan to expand the loan account by 17-18 percent and disburse between 22-25 percent,” he said.

The Company’s book loan is Rs.52,124 crore at the end of September 2022.

When it comes to profitability ratios that matter. Officials said there was some volatility in terms of gross margins at this time.

“It’s really volatile, I think at the moment the 2.2% spread and 3.2% net NIM (net interest margin) are what we’re trying to protect… so that we can fix the difference in the next few quarters and And then let’s look at the margins again.”

Speaking of the fundraising plan, he said PNB Housing was working on planned rights issues. and will submit a draft proposal before this calendar year.

At the beginning of July of this year The company has announced the issue of rights worth Rs. 2,500 crore, with the account expected to close by December.

The capital increase will support the company’s capital position. And it allows the company to accelerate its growth plans, Kousgi added.

Concerning the status of the Punjab National Bank (PNB) promoter’s involvement in rights issues He said the bank was approved by the RBI to fund up to Rs 500 crore.

In the second quarter ended in September of this fiscal year, PNB Housing Finance reported a 12% increase in net profit at Rs.263 crore. For the first half ending April-September 2022-23, net profit increased by 4% at Rs.498 crore. year

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