AUM, Profits and revenue zooms for PNB Housing in Q1, even as bank and Caryle Group talk of selling stakes

Last Updated: Thu, Aug 09, 2018 17:29 hrs
Real estate

New Delhi: PNB Housing Finance Limited has quietly posted an impressive first quarter result. This, in comparison to the media attention that PNB bank received during it's first quarter result (announced two days ago).

PNB Housing Finance in it's unaudited financial results for quarter ending June 2018 posted net interest income at Rs 432.8 crores, a growth of 28% against Rs 339.3 crores that it posted in the corresponding quarter a year ago.

Profit after Tax increased by 50% to Rs 255.8 crore from Rs 170.1 crore.

Disbursements increased by 25% to Rs 9,767.3 crore during the period of review from Rs 7,793.9 crore in the corresponding period last year.

The bank in a filing report said that the Asset under Management (AUM) stood at Rs 68,577.5 crore as on 30th June'18 from Rs 46,755.2 crore on 30th June'17 registering a growth of 47% during the period. Housing Loans comprises 70% of the AUM while the remainder is Non-Housing loans.

In terms of borrowings, total borrowings grew by 53% to Rs 60,439.7 crore from the quarter, a year ago and deposit portfolio grew by 17%.

The total outstanding loans assigned amounted to Rs 4,671.7 crore as on 30th June, 2018. Gross Non-Performing Assets (NPA) stood at 0.43% of the Loan Assets at the end of the period in review. At an AUM level the Gross NPA falls further to 0.41%, said the report. Net NPA stood at 0.33% of the Loan Assets.

Sanjay Gupta, Managing Director said, "We are the fastest growing HFC amongst the top 5 HFCs in India. However, we believe in a profitable growth hence pre-empting the interest rate scenario, increased our lending rates on the book as well as on incremental disbursements.

"We are in the midst of a stake sale whereby our promoter i.e. Punjab National Bank and our second largest shareholder i.e. Quality Investment Holdings, the Carlyle group, have started the process to sell the controlling stake in the Company. While the process is underway, we continue to focus on our business and growth strategy."

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