PNB Housing to Raise Up to $125 Million via ECB in Q3 FY25

Managing Director and CEO of PNB Housing Finance, Girish Kousgi, is planning to raise up to $125 million through External Commercial Borrowing (ECB) in the third quarter of FY25. 

He mentioned that the company has already taken out part of an approved ECB loan of $125 million and is considering raising another $100 to $125 million early next quarter. As of now, PNB Housing Finance’s total borrowing stands at ₹55,734 crore. Term loans make up 39.4% of this amount, followed by deposits at 32.5%, and non-convertible.

Financial Highlights

PNB Housing Finance saw its consolidated net profit rise by 57% year-on-year to ₹439 crore in the January-March quarter of FY24, compared to ₹279 crore in the same period last year. On a sequential basis, profit grew 30% from ₹338 crore in the third quarter of FY24.

The company’s net interest income (NII) increased by 7% to ₹632 crore during the quarter, up from ₹593 crore in the previous year. However, the net interest margin (NIM) slightly decreased to 3.65%, down from 3.74% last year, though it remained stable compared to the December 2023 quarter. For the Retail segment, it was 0.94%, while the Corporate segment had a net NPA of 1.11%. Operating expenses rose 23% year-on-year to ₹176 crore, compared to ₹143 crore in Q4 FY23, due to branch expansion and IT infrastructure upgrades.

About PNB Housing Finance Limited

PNB Housing Finance Limited (PNB Housing) is a housing finance company registered with the National Housing Bank (NHB). PNB Housing is a subsidiary of Punjab National Bank (PNB), which owns 51% of its share capital. The company does not have any subsidiaries. In December 2009, PNB Housing entered a financial partnership with Destimoney Enterprises Private Limited (DEPL). Later, in February 2015, DEPL’s majority shareholder, Destimoney Enterprises Limited, sold its entire stake to Quality Investments Holdings, owned by Carlyle Group, a global investment firm. 

On September 09, 2024, the share price of PNB Housing Finance Ltd opened at ₹1,012.00, touching the day’s high of ₹1,055.00 at 02:10 PM. 

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