The Board of Directors of PNB Housing Finance Limited approved the Consolidated Unaudited Financial Results for the quarter ended 30th June 2024. The accounts have been subjected to a limited review by the Company’s Statutory Auditors in line with the regulatory guidelines. The financial numbers are based on IndAS.
PNB Housing Finance ddisbursement grew by 19% YoY to INR 4,398 crore; retail disbursement constitutes 99%
Emerging markets and affordable segment contribute 33% of the retail disbursement in Q1FY25.Retail Loan Asset grew by 14.4% YoY to INR 65,157 crore as on 30th Jun 2024, which is 97.3% of Loan Asset. Affordable book crossed INR 2,000 crore mark; as on 30th Jun 2024 is at INR 2,361 crore. Loan Asset stood at INR 66,986 crore as on 30th Jun 2024 registering 11% growth YoY
Strengthened Pan India presence to 303 branches & outreaches. Dedicated 160 branches for Affordable segment and 50 branches for Emerging Segment. Gross NPA declined by 241 bps to 1.35% as on 30th Jun 2024 as compared to 3.76% as on 30th June 2023. Net NPA declined to less than 1% at 0.92% as on 30th Jun 2024.
Resolved 1 NPA and 1 written off corporate account during the quarter. Recovered ~INR 80 crore from total written-off pool in Q1FY25. Profit after Tax is at INR 433 crore vs INR 347 crore registering an increase of 25% YoY. Return on Asset is at 2.38% in Q1FY25 (annualized); FY24 ROA stood at 2.20%. Capital Risk Adequacy Ratio stood at 29.50% as on 30th Jun 2024; Tier I at 28.43%. CRISIL upgraded the rating to “AA+” from “AA”; Outlook “Stable”
Commenting on the performance Girish Kousgi, Managing Director & CEO PNB Housing Finance 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% 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% 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 realization of the government's vision of "Housing for all." The Company is well-positioned to capitalize on this opportunity with our Pan India presence through 303 branches, including dedicated160 branches for the affordable segment.”
