PNB Housing Finance shares gain 3% post Q1 earnings; net profit rises 25% YoY

Total income during the quarter rose to ₹1,832 crore from ₹1,708 crore registered in the same quarter of the previous fiscal, PTI reported. The lender's interest income in Q1 was higher at ₹1,739 crore against ₹1,667 crore logged in the year-ago period.

Net interest income (NII) grew by 4% to ₹651 crore during the quarter under review. However, the net interest margin (NIM) declined to 3.65%, compared to 3.86% in the first quarter of the previous year.

The gross non-performing assets (NPAs) were down 1.3% over 3.76% at the end of June 2023, it said.

• Disbursement grew by 19% YoY to ₹4,398 crore; retail disbursement constitutes 99%.

• Retail loan assets grew by 14.4% YoY to ₹65,157 crore as of June 30, 2024, which is 97.3% of loan assets.

Commenting on Q1 results, Girish Kousgi, Managing Director and CEO, said, "The company’s focus on growth, asset quality, and profitability is 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 of June 30, 2024."

The CEO added that the government's commitment to inclusive growth is demonstrated by the expansion of the Pradhan Mantri Awas Yojana (PMAY) scheme, which includes the provision of 3 crore additional houses in urban and rural areas. This is a substantial stride toward the realisation of the government's vision of "Housing for all."

The company is well-positioned to capitalise on this opportunity with its pan-India presence through 303 branches, including dedicated 160 branches for the affordable segment, Kousgi said further.