PNB Housing Finance to raise $125 million via ECBs

                NEW DELHI: PNB Housing Finance has received external commercial borrowings (ECB) sanction of USD 125 million at a very competitive rate during the quarter ended September 30, 
2024, the company said in its earnings call. Its affordable segment loan book crossed Rs 3,000 crore mark in October 2024. It aims to reach target of Rs 15,000 crore affordable loan 
book by FY27.
Retail loan book grew by 16.2% to Rs. 67,970 crore as on September 30, 2024. This is against the stated guidance of 17% for the financial year 2024-25.
The corporate loan book was at Rs 1,531 crore, total loan was at Rs 69,501 crore, asset-under-management (AUM) was at Rs 74,724 crore as on September 30, 2024.
During the quarter, the company disbursed Rs 5,341 crore. The disbursement in the affordable segment grew at 68.5% year-on-year to Rs 630 crore in Q2 FY25.
In Q2 FY25, operating expenses have grown by 19% year-on-year to Rs 199 crore. "This is largely due to branch expansion done in “Roshni” and emerging vertical during Q4 of the last 
financial year wherein we have added 100 branches. Excluding fresh investments done in these 100 branches, operating expenses would have grown by around 9%. This fresh 
investment will definitely help in profitable growth going forward," said Vinay Gupta, CFO of the company.
The company has maintained an average daily LCR of 193% against the regulatory requirement of 85%. It has also maintained SLR of 15% on public deposits as of September 30, 2024 
against the regulatory requirement of 13%.
PNB Housing expects to start corporate business in the next few months to further help in yield and retail business.
Gross non-performing assets (GNPA) improved by 11 bps to 1.24% in Q2 FY25. Last quarter, the GNPA was 1.35%. Cost of borrowing reduced by 8 bps sequentially to 7.82%.
During the quarter, it recovered Rs 48 crore from retail written-off pool in comparison to Rs 28 crore in Q1 FY25. The company has a written-off pool of around Rs 1,250 crore in corporate 
and Rs 500 crore in retail.


Source : Economic Times