PNB Housing finance Q4 net rises

PNB Housing finance Q4 net rises
13/05/2017 , by , in News/Views

PNB Housing Finance reported 47% jump in net profit for the fourth quarter of last financial year, aided by mainly growth in its housing finance portfolio.

Profit for the quarter rose to Rs 152.40 crore from Rs 102.6 crore reported for the corresponding quarter last year.

“The fourth quarter was all about home loans,” said Sanjaya Gupta, MD and CEO, PNB Housing Finance. “We saw strong growth in mass housing segment.” Disbursements increased 46 per cent to Rs 6,047 crore during the fourth quarter.

Overall, housing loan disbursements accounted for 70.1 per cent and non-housing loan at 29.9 per cent of total disbursements.

Net interest income or difference between interest earned and interest expended grew 51 per cent to Rs 332.7 crore from Rs 219.9 crore.

Asset quality remained stable with net NPA at 0.15 per cent and gross NPA at 0.22 per cent.

The spread was 2.37 per cent. Net interest margin for the quarter was 3.38 per cent.

The company offers housing loans and construction finance to real estate developers for residential housing.

PNB Housing Finance is a deposit-taking housing finance company. It saw 40 per cent growth in deposits during the year at Rs 9,987 crore.

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