PNB Housing Finance’s Q4FY24 results reporting an increase in Net profit by 57% YoY and 30% QoQ to INR 439 crore.

Key Highlights of the Financial Year 2024

· Successfully completed capital raise of INR 2,493.76 Crore through Rights Issue in May 2023.

· Retail Loan Asset grew by 14% YoY to INR 63,306 crore as on 31st Mar 2024, which is 97% of Loan Asset.

– Build INR 1,790 crore of Affordable book within 15 months of operation

· Loan Asset stood at INR 65,358 crore as on 31st Mar 2024 registering 10% growth YoY

· Strengthened pan India presence to 300 branches & outreaches

– Dedicated 160 branches for Affordable segment and 50 branches for Emerging Segment

· Gross NPA declined by 233 bps to 1.50% as on 31st Mar 2024 as compared to 3.83% as on 31st Mar 2023. Net NPA declined to less than 1% at 0.95% as on 31st March 2024

· Capital Risk Adequacy Ratio stood at 29.26% as on 31st March 2024; Tier I at 27.90%

· Profit after Tax is at INR 1,508 crore vs INR 1,046 crore registering an increase of 44% YoY.

· Net Interest Margin stood at 3.74% for FY24 as compared to 3.73% for FY23.

· Return on Asset is at 2.20% in FY23-24 as compared to 1.61% in FY22-23

· Certified as “Great Place to Work” by building a “High Trust, High Performance Culture”.

· India Ratings, ICRA and CARE upgraded the rating to “AA+” from “ AA”; Outlook “Stable”

Commenting on the performance Mr. Girish Kousgi, Managing Director & CEO PNB Housing Finance said: “During the Financial Year 2023-24, the Company made significant progress across various business and financial parameters. The completion of a successful fund-raise via Rights Issue underscores the confidence of our shareholders. Moreover, our expansion into high yielding affordable segment and the growth of our retail loan book showcases our commitment towards meeting diverse market needs. With the opening of new branches, we have not only expanded our reach but also strengthened our presence in tier II & III markets. We have witnessed a remarkable improvement in the asset quality, which reduced by 57% year-on-year. As we move ahead, we look forward with optimism that our fundamentals position us well to achieve the desired growth and profitability.”