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PNB Housing Finance consolidated net profit declines at Rs235.21cr in Q2FY22; stock slumps 3.5%

The sales were also down 21.44% to Rs1583.32cr in the quarter ended September 2021.

November 03, 2021 10:23 IST | India Infoline News Service
PNB Housing Finance consolidated net profit declined 24.92% to Rs235.21cr in the quarter ended September 2021 as against Rs313.29cr during the previous quarter ended September 2020.

The sales were also down 21.44% to Rs1583.32cr in the quarter ended September 2021 as against Rs2015.51cr during the previous quarter ended September 2020.

PNB Housing Finance Ltd is currently trading at Rs492.50 down by Rs18.45 or 3.61% from its previous closing of Rs510.95 on the BSE.

Commenting on the performance Mr. Hardayal Prasad, Managing Director & CEO said: “The Company has registered healthy growth in disbursements with 96% disbursements in retail segment during the quarter. With focus on the retail segment, the de-growth in retail loan asset is controlled during the quarter. With opening up of the field movement and legal machinery post second wave of Covid, we witnessed improved resolutions in Q2 FY22 resulting in retail NPA down by 14% on absolute basis during the quarter.”

Key highlights:
·         The disbursements during Q2 FY22 stood at INR 2,961 crore compared to INR 2,444 crore in Q2 FY21 registering an increase of 21%. Retail disbursements were 96% of the total disbursements in Q2FY22.The retail disbursements grew by 23% YoY in Q2 FY22.
·         The de-growth in the Retail book has been arrested as on 30th September 2021 to INR 49,298 crore as compared to 30th June 2021 to INR 49,450 crore.
·         The Company’s CRAR based on IndAS stood at 20.7% as on 30th September 2021
·         Improved resolutions in Q2 FY22 resulting in retail NPA down by 14% on absolute basis during the quarter.
·         Gearing as on 30th September 2021 is 5.9x compared to 7.8x as on 30th September 2020
·         Digital sourcing contributed 48% to total logins in Q2 FY22 as compared
·         With economic activity getting back to pre-covid levels, Collection Efficiency improved significantly MoM to 98.6% in Sept 2021 from 96.6% in June 2021
·         Unnati AUM increased by 9% YoY in September 2021
·         Corporate Book:  Down Sell / Accelerated pre-payment of INR 1,214 Crore in H1 FY22
·         13 Unnati locations this year

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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