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About PNB Housing Finance

* PNB Housing Finance Limited (PNBHOUSING) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB).

* The Company’s asset base comprises 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 loans against properties and loans for purchase & construction of non-residential premises.

* Corporate loans are mainly to developers for construction of residential / commercial properties, corporate term loans and lease rental discounting. PNB Housing Finance is a deposit taking Housing Finance Company

* PNB Housing are also establishing themselves in the affordable housing financing space with their dedicated Unnati segment. The company network of 99 branches are spread across 67 unique cities and 38 outreach centres. This includes 24 new locations for Unnati across the country.

* The company operates the sales and distribution function through our wholly-owned subsidiary, PHFL Home Loans and Services Limited.

Operating Performance

* In FY22 with an AUM of ? 65.9 billion, with the retail segment accounting for 89% of AUM. During the year, we reported disbursements of ? 11.2 billion, reflecting a YoY growth of 8%. In line with management retail first strategy, they disbursed 97% of its total disbursement to the retail segment. As per their stated policy, they reduced its corporate loan book by 39% during the year, through sell-down and accelerated re-payments.

* During 1QFY23, On loan assets, retail loans registered growth of 2% YoY 1% sequentially to ? 50.3 billion as on 30th June 2022. The corporate loan asset declined by 45% YoY to ? 6 billion as on 30th June '22 on account of sell down and accelerated prepayments. The loan assets for the Company outstanding as on 30th June 2022 is ? 56.3 billion and the assets under management is at Rs.64.9 billion

* The management guided High single digit which is anything from 8%- 9% for AUM in FY23. In the past the management has clocked 4.3-4.4% AUM growth during covid. The company interest rates and the competitors (large banks) interest rates are almost at the same; 7.5-7.55%.

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