PNB Finance & Industries Unlisted Shares
PNB Housing Finance Sees Opportunity in HDFC’s Exit from the Market, expects 22% growth of disbursements in FY24
Trade Brains
2 min read
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.
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
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