PNB Housing Finance Q2 net up 22.7 per cent at ₹470 crore 

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PNB Housing Finance Limited (PNBHFL) on Thursday reported a 22.7 per cent increase in consolidated net profit for the quarter ended September 30,2024 at ₹470 crore (₹383 crore).

The latest bottomline performance is also higher than the net profit of ₹433 crore recorded in June 2024 quarter.

For the first half of the current fiscal, PNBHFL recorded a net profit of ₹ 903 crore, up 24 percent over net profit of ₹730 crore recorded in same period last year.

 Total income for the quarter under review stood at ₹1880 crore (₹1779 crore)

Commenting on the performance, Girish Kousgi, Managing Director & CEO said:”The Company’s focussed approach led to growth across all parameters. The Retail Asset grew by 16.2 percent YoY inching towards our stated guidance of 17 percent for FY25. 

Our affordable segment is performing well and crossed ₹ 3,000 crore in Loan Asset in October 2024. The Company registered retail disbursements growth of 28 percent YoY to ₹ 5,341 crore during the reported quarter i.e. Q2 FY25”.

The portfolio asset quality continues to improve with Gross NPA at 1.24 percent as on end September 2024.

“With the Government focus on the affordable segment (EWS and Mid income group) under PMAY-Interest Subsidy Scheme, close to 1 crore customers are expected to benefit over next 5 years. This leads to a huge opportunity for players like us with pan India presence and special focus on Affordable and Emerging Market segment”, Kousgi said.