PNB Housing Finance Q3 outcomes: Web revenue rises 43% at Rs 269 crore

The online revenue of PNB Housing Finance rose 43 per cent year-on-year (YoY) to Rs 269 crore within the third quarter (October-December) of FY23 on the again of improved margins and web curiosity revenue.

As compared, the housing finance firm (HFC) had booked a web revenue of Rs 188 crore within the December quarter of FY22 and Rs 263 crore within the September quarter of FY23.

On Tuesday, the inventory rose 4.81 per cent to Rs 556.60 on the Bombay Inventory Alternate.

The HFC’s complete revenue in the course of the December quarter was Rs 1,797 crore in opposition to Rs 1,496 crore a yr in the past, the lender mentioned in an change submitting.

“As on thirty first Dec 2022, Rs 2,037 crore has been restructured beneath the RBI’s decision framework for Covid-19 associated stress,” it added.

The financial institution’s asset high quality confirmed an enchancment with gross non-performing property (NPAs) as a share of gross advances dropping to 4.87 per cent within the third quarter of FY23 from 6.06 per cent within the second quarter of FY23. Web NPAs stood at 3.22 per cent from 3.59 per cent in the course of the comparable interval.

The mortgage lender mentioned it disbursed loans value Rs 3,425 crore in Q3 FY23, registering progress of 21 per cent from Rs 2,828 crore in Q3 of FY22. The disbursements had been predominantly within the retail phase.

Girish Kousgi, Managing Director & CEO of PNB Housing Finance mentioned in reasonably priced enterprise, the HFC has expanded its presence to 82 branches, which is able to contribute to the corporate’s technique of constructing books on this phase. “We proceed to deal with mortgage asset progress and asset high quality enchancment whereas being worthwhile,” he added.

The online curiosity revenue (NII) of the HFC expanded by 67 per cent YoY to Rs 734 crore within the reporting quarter. Web Curiosity Margin stood at 4.68 per cent in Q3 FY23, up from 4.14 per cent within the earlier quarter, the corporate mentioned in an announcement.

The excellent mortgage e book of the HFC rose to Rs 58,034 crore in December 2022 as in comparison with Rs 57,845 crore as on the finish of December 2021. It additionally expanded sequentially from Rs 57,832 crore on the finish of September 2022.

The capital adequacy ratio (CAR) of the corporate was at 25 per cent as on December 31, comfortably above the regulatory requirement.