PNB Housing Finance Board To Deliberate On Raising ₹5,000 Crore Through Private Placement On 22 June

PNB Housing Finance announced on Saturday their intention to raise capital of Rs 5,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. It was stated that the board of directors would convene on 22 June 2023, to consider and approve the issuance of NCDs. 

According to PNB Housing Finance’s regulatory filing, the company stated, “The company’s board of directors is scheduled to be held on Thursday, June 22, 2023, inter alia to consider and approve issuance of Non – Convertible Debentures aggregating up to INR 5,000 Crore (Rupees Five Thousand Crore Only) on Private Placement Basis.” 

Regarding the financial results for Q4FY23, PNB Housing Finance reported a consolidated net profit of Rs 279 crore, which represented a growth of 64.7 per cent compared to Rs 170 crore in the corresponding period last year. The company’s net-interest income for the January-March quarter was Rs 627 crore, indicating a rise of 27 per cent compared to Rs 494.7 crore in the year-ago period. 

As for revenue from operations in Q4FY23, it amounted to Rs 1,635.71 crore, reflecting a growth of 14.71 per cent compared to Rs 1,425.83 crore in the same period the previous year. 

As per the company’s regulatory disclosure to the stock exchanges, the disbursements in FY23 increased by 33 per cent compared to the previous year, reaching a total of Rs 14,965 crore. For Q4 FY23, the disbursements stood at Rs 4,495 crore, registering an increase of 22 per cent year-on-year. 

The gross non-performing assets (GNPA) declined by 430 basis points to 3.83 per cent as of 31 March 2023, compared to 8.13 per cent in the corresponding quarter last year. The retail GNPA decreased by 133 basis points to 2.57 per cent in the fourth quarter, compared to 3.89 per cent in the year-ago period. PNB Housing Finance’s outlook was upgraded from ‘negative’ to ‘stable’ for FY23 by ICRA, CRISIL, and India Ratings.