Net interest income (NII) for the period under review was Rs 696 crore, up 11.8% YoY.
The company’s operating improved by 10% to Rs 580 crore in Q3 FY25 from Rs 527 crore in Q3 FY24.
PNB Housing wrote provisions amounting to Rs 36 crore in the December’24 quarter. It had made a provision for an impairment charge of Rs 59 crore in the same period last year.
Profit before tax in Q3 FY25 stood at Rs 616 crore, up by 40% from Rs 440 crore in Q3 FY24.
Pre provision operating profit grew by 16.1% YoY and 3.7% QoQ to Rs 579.5 crore.
Yield at 10.12% in Q3 FY25 as compared to 10.05% in Q2 FY25 and 10.19% in Q3 FY24.
Cost of Borrowing is at 7.83% in Q3 FY25 as compared to 7.84% in Q2 FY25 and 8.07% in Q3 FY24.
Spread on loans is at 2.29% in Q3 FY25 as compared to 2.21% in Q2 FY25 and 2.12% in Q3 FY24.
Net Interest Margin stood at 3.70% in Q3 FY25 as compared to 3.68% in Q2 FY25 and 3.49% in Q3 FY24.
Gross Margin, net of acquisition cost, stood at 4.07% in Q3 FY25. With recovery from retail written off pool, credit cost was -19 bps in Q3 FY25 as compared to -24 bps in Q2 FY25 and 34 bps in Q3 FY24.
The disbursements during Q3 FY25 grew by 29.9% YoY to Rs 5,380 crore. Retail segment grew by 30.9% YoY to Rs 5,380 crore.
Loan asset grew by 15.4%YoY Rs 71,917 crore as on 31 December 2024 Retail loans grew by 17.5% YoY to Rs 70,676 crore as on 31 December 2024.
Corporate loans are at Rs 1,241 crore as on 31 December 2024, reduced by 43.8% as compared to 31 December 2023.
Asset under management (AUM) grew by 12.1% YoY to Rs 76,840 crore as on 31 December 2024.
Gross non-performing assets stood at 1.19% as on 31 December 2024 as compared to 1.24% as on 30 September 2024 and 1.73% as on 31 December 2023. Net NPA stood at 0.80% as on 31 December 2024.
The company’s CRAR stood at 28.8% as on 31 December 2024 (of which Tier I capital is 28.0% and Tier II is 0.8%) as compared 29.5% as on 31 December 2023 (of which Tier I capital was 28.0% and Tier II was 1.6%).
Girish Kousgi, managing director & CEO said: “The company delivered on its growth and profitability parameters with retail segment growth at 17.5% and return on asset at 2.48% (annualised) for 9M FY25.
Our affordable segment is performing well and has delivered robust disbursement growth of 127% YoY to INR 920 crore during the quarter. The portfolio asset quality continues to improve with Gross NPA at 1.19% as on 31st Dec 2024.
The company received NHB refinance sanction of INR 5,000 crore and another ECB sanction of USD 100 million in Q3 FY25.
The company has signed an MoU with NHB under Pradhan Mantri Aawas Yojna Urban 2.0 to support the eligible beneficiaries under interest subsidy scheme.
The company with affordable and emerging markets segment and pan India presence is well placed to tap the available opportunity”
PNB Housing Finance is promoted by Punjab National Bank and is a registered housing finance company with National Housing Bank (NHB). The company’s asset base comprises primarily of retail loans and corporate loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. In addition, it also provides loan against properties and loans for purchase & construction of non-residential premises.