Asset under management surges by 59% to INR 27,555 crores
May 12 2016, 19.32 PM IST || Pocket News Alert
Highlights for FY2015-16
· Total income grew to INR 2,697 crores; 52% higher than the previous year
· Profit after tax rose to INR 326 crores; up by 66% from INR 196 crores in FY2014-15
· Loans disbursed worth INR 14,456 crores registering a growth of 53% over last year
· Assets under management of the company reached INR 27,555 crores; up by 59% from FY2014-15
· Return on average net worth for the year was 17.11% as against 16.09% in the previous year
· Gross NPAs stood at 0.22%; Net NPA at 0.14%
· Deposits by end of financial year are INR 7,116 crores; growth of 45% over previous year
· Provision cover of 296% on Gross NPA
· Dividend of INR 3.4 per share of face value of INR 10 each in proportion to the amount paid up on each share recommended by the Board of Directors
New Delhi, May 12, 2016: PNB Housing Finance Limited the fifth* largest housing finance company of the country, today announced financial performance for the year ending March 31, 2016. Continuing its impressive growth run, the company posted a net profit of INR 326 crores as against INR 196 crores in FY2014-15. PNB Housing’s loan book stood at INR 27,177 crores.
Commenting on the performance, Mr. 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.”
* PNB Housing is the 5th largest housing finance company by loan portfolio as on 30th September 2015, according to IMaCS report.
Profitability
· For the year ended March 31, 2016, profit after tax stood at INR 326 crore as compared to INR 196 crore in the previous year, representing a growth of 66%
· Profit before tax stood at INR 503 crore as compared to INR 296 crore in the previous year, a growth of 70%
Lending Operations
· The company sanctioned loans worth INR 23,011 crores witnessing a surge of 53% and disbursements were INR 14,456 crores representing a growth of 53% during FY2015-16.
· As at March 31, 2016, Asset under Management stood at INR 27,555 crore as against INR 17,297 crore in the previous year.
· The company has maintained a well-balance portfolio mix where the exposure to housing loan, non-housing loan and construction finance is 61%, 30% and 9% respectively.
· PNB Housing has successfully deployed a balanced business sourcing mix where 55% of the total portfolio is being sourced from in-house channels.
· The total number of customers as on March 31, 2016 was over 1,70,000 including loan asset and deposit customers.
· As at March 31, 2016, the Loan Portfolio stood at INR 27,177 crore as against INR 16,819 crore in the previous year.
Net Interest Margin
· Net Interest Margin for the year ended March 31, 2016 was 3.08% as compared to 3.21% in the previous year.
Asset Quality
· The focus has persistently been on profitable and sustainable business framework. Besides low NPAs, another outstanding achievement has been NIL NPAs in the segment dealing with loans to real estate developers for construction finance. Gross NPAs were at 0.22% of gross advances as against 0.20 % as on March 31, 2015. Net NPAs were at 0.14% as on March 31, 2016, as against 0.07% as on March 31, 2015.
Cost to Income Ratio
· Cost to Income ratio for the year stood at 25.21% as compared to 30.94% in previous year
Network
· The company has exerted higher thrust on south and west regions through strategic expansion in these areas along with continuous extension in north India. The Company has opened new branches in Vishakapatnam, Vijaywada, Hyderabad, Nasik, Surat, Thrissur, Vadodara, Bhiwadi and Faridabad during FY2015-16.
Branding
· Repositioned PNB Housing as a new age contemporary housing finance company through a focused brand campaign citing convenient, hassle free services for its customers.
PNB Housing is the 5th largest housing finance company by loan portfolio as on 30th September 2015 and 2nd Largest HFC by public deposits as on March 31st, 2015, according to IMaCS report. PNB Housing is a subsidiary of Punjab National Bank in partnership with Quality Holding Investments (owned by Carlyle group).
The company offers housing loans and fixed deposits to customers. In housing loans segment, the company offers loans for construction, purchase, repair and expansion of houses to individuals and corporate bodies. It also provides loans for commercial space, loan against property and loan for purchase of residential plots.
For more information, please visit us at www.pnbhousing.com