 "PNB Housing Finance soars 11% after strong Q2 performance; details")
Shares of PNB Housing Finance soared 10.90 per cent, at Rs 1,035 per share on the BSE in Friday's intraday trade after the company reported a strong quarterly earnings for the second quarter of the financial year 2024-25 (Q2FY25).
PNB Housing Finance reported a net profit of Rs 470 crore for the quarter ended September, marking a 23 per cent increase year-on-year and a 9 per cent rise sequentially. This growth was driven by improved asset quality, with the gross non-performing assets (NPA) ratio declining to 1.24 per cent, down from 1.35 per cent last quarter and 1.78 per cent a year ago. Net NPA also improved to 0.84 per cent, compared to 0.92 per cent the previous quarter and 1.19 per cent a year earlier.
The company also experienced healthy growth in assets under management (AUM), which increased by 11 per cent year-on-year and 3 per cent quarter-on-quarter to Rs 74,724 crore.
Retail disbursements grew by 28 per cent year-on-year to Rs 5,341 crore, with affordable and emerging markets accounting for 31 per cent of this total.
As of September 30, retail loan assets stood at Rs 67,970 crore, with affordable and emerging markets representing 23 per cent of the retail loan portfolio. However, corporate loans decreased by 36 per cent year-on-year to Rs 1,531 crore as of September 30.
PNB Housing Finance, an arm of parent state owned Punjab National Bank, offers a range of retail and corporate loans, including individual home loans, retail loans against property, retail non-resident property loans, construction finance, and lease rental discounting, among others.
It manages its sales and distribution functions through its wholly-owned subsidiary, PHFL Home Loans and Services Limited.
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The company has a total market capitalisation of Rs 24,961.80 crore. Its shares are trading at a price to earnings multiple of 15.03 times and at an earning per share of Rs 62.09.
At 10:48 AM, the stock price of the company pared most of its gains and was up 2.79 per cent at Rs 959.25 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.61 per cent to 79,575.26 level.