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

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.