PNB Housing Finance Ltd

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Barring PNB Housing Finance, other housing finance stocks indicate weakness, with selling pressure to mount further if crucial levels are breached.

In comparison, the housing finance company (HFC) had booked a net profit of Rs 188 crore in the December quarter of FY22 and Rs 263 crore in the September quarter of FY23

PNB Housing Finance on Friday said it has opened 'Roshni' branches in various locations, including tier II and III cities, for deepening its customer base in the affordable housing segment. Through its affordable home loan scheme Roshni, the city-based lender has also renewed its commitment towards the government's Housing for All mission, it added. Under this initiative, PNB Housing Finance will offer retail loans to individuals in the range of Rs 5 lakh to Rs 30 lakh. The company's Roshni branches inaugurated in Chennai, Coimbatore, Ghaziabad, Hyderabad, Indore/Ujjain, Lucknow, Mumbai, Nagpur, Pune, Rajkot and Varanasi will cater to customers in this segment. Borrowers can get loans for purchase of house property, self-construction, home extension/renovation, plot purchase plus construction, loan against property, among others, PNB Housing Finance said in a release. Whether loan applicants are new to credit, self-employed without formal income or salaried from a low-income group

Its net interest income (NII) expanded by 29 per cent YoY to Rs 649 crore in the reporting quarter.

PNB Housing Finance on Friday announced the appointment of Vinay Gupta as the Chief Financial Officer. The appointment will be effective from October 26, it said in a regulatory filing. Gupta's appointment follows the resignation of Kapish Jain as the CFO in April this year. The interim CFO Kaushal Mithani had resigned in August. Currently, Gupta is associated with SBI Cards and Payment Services. A chartered accountant with over 20 years of experience, he has extensive experience in financial management, financial planning and other areas.

PNB Housing Finance is revamping its 'Unnati' loan portfolio to go deeper into the affordable housing segment eyeing customers who need loans of Rs 9-12 lakh, MD & CEO Hardayal Prasad said. PNB Housing has created a small vertical under Unnati which will be different from existing Rs 18-19 lakh as affordable housing loans. "We are setting up a whole infrastructure, we have already opened 10 more branches in June quarter. This policy on Unnati is completely revamped, this is a completely different way the business will take place. The loan ticket size will come down to about Rs 9-12 lakh as against Rs 18-19 lakh which is there today. "So there is world of difference in the way as we plan to hit the road by September and that is where the Unnati book will start growing," Prasad said, adding it opened 20 branches in March 2022 quarter and more will be added going forward. PNB Housing was never there in this loan bracket, some of the competing HFCs offer these types of loans. "As a ..

The domestic housing sector is set to grow for the next five years after a lull of several years and the housing finance companies are well poised to tap this opportunity aided with sectoral reforms

PNB Housing Finance is looking to raise Rs 2,000 crore by issuing NCDs on a private placement basis

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On the NSE, the Nifty50 index touched an intra-day low of 15,711 before settling at 15,863, down 382 points or 2.35 per cent

PNB Housing Finance had decided to sell a part of its stake to a group of investors led by private equity firm Carlyle in May

PNB Housing Finance on Wednesday said the Securities Appellate Tribunal has allowed it to withdraw its appeal in the matter related to the Rs 4,000 crore Carlyle deal, which stands scrapped now

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The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent

The counsel argued that blaming the board of directors was unfair as preferential allotment price was not final and had to be approved by a special resolution