PNB Housing Finance net profit up by 66% to Rs 326 crores in FY 2015-16
The fifth largest housing finance company PNB Housing Finance Limited has announced financial performance for the year ending March 31, 2016.
Continuing its impressive growth run, the company posted a net profit of Rs 326 crores as against Rs 196 crores in FY 2014-15. PNB Housing’s loan book stood at Rs 27,177 crores.
Sanjaya Gupta, Managing Director, PNB Housing Finance Limited, said, “The results are encouraging and at par with our expectations. FY2016 has been a year of high significance as we attained the status of one of the leading housing finance companies surpassing AUM of INR 27,000 crores. Customer centricity remains the foundation of our robust growth which has been aptly complemented by one of the lowest NPAs in the industry indicating the quality of our assets. The past fiscal was dedicated to expansion as we ventured into new markets with 9 more branches taking the total tally to 48.
With strong fundamentals of the Indian economy and a conducive environment for the mortgage industry, the velocity for the sector seems to be gaining and this shall provide huge impetus for PNB Housing to continue its growth momentum on an upward curve.”