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  3. PNB Housing Finance Sees Opportunity in HDFC’s Exit from the Market, ex…

PNB Housing Finance Sees Opportunity in HDFC’s Exit from the Market, expects 22% growth of disbursements in FY24

3 Aug 2023

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Key Takeaways

  • With HDFC's market exit, PNB Housing Ltd seizes the chance to raise customer loan disbursements by 22% this fiscal year, driving company growth.

  • Funds come from 1/3 deposits and 40% banks. Recent rights issue offers growth capital for 3–4 months, fueling existing opportunities

  • With HDFC's market exit, PNB Housing Ltd seizes the chance to raise customer loan disbursements by 22% this fiscal year, driving company growth.

  • Funds come from 1/3 deposits and 40% banks. Recent rights issue offers growth capital for 3–4 months, fueling existing opportunities

PNB Finance & Industries Unlisted Shares

PNB Finance & Industries

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Expert Analysis

Backed by Punjab National Bank, anticipates 22% growth in new loan sales, while Q1 FY 24 saw an 11% rise in retail loans, constituting 94% of its assets.

MD’s thoughts:

  • Girish Kousgi, the MD and chief executive of PNB Housing Finance Ltd, said –– We expect loan sanction guidance of 17-18% and a disbursement target of 22% for the full year.

Justification:

  • The biggest reason for the increase is the exit of HDFC from the market.

  • Conducted a Rs 2,493.76 crore rights issue in May 2023, with Caryle, General Atlantic, domestic, and FII participation. Funds are allocated for strategic growth initiatives.

Publisher:Trade Brains