 "PNB housing finance, Punjab national bank")
PNB Housing Finance aims to grow its portfolio by 17 per cent during the current fiscal on the back of the increase in branch network and focus on affordable housing loan.
The housing finance company has enough capital to sustain this kind of high growth, PNB Housing Finance managing director Girish Kousgi told PTI.
For the next 2-3 years, he said, "we dont need capital as we just raised capital through the rights issue last year".
Last year, the mortgage firm raised about Rs 2,500 crore from rights issue.
Talking about the strategy to achieve this kind of loan growth, he said, PNB Housing closed the year with the loan book of Rs 63,000 crore and aims to grow it by 17 per cent with focus on affordable segment.
Its affordable housing loan book, which it started 15 months back, stood at Rs 1,790 crore.
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However, PNB Housing Finance's corporate loan book shrank 46 per cent in FY24 to Rs 2,052 crore as it was on a balance sheet cleansing exercise.
He said the company would also increase corporate lending this year after three years of pause.
The housing finance company opened 100 branches last year, which will help in expanding business including in affordable segment, he said.
With this, the total number of branches has increased to 300.
He said 50 more branches are going to be added during the current financial year that would be mostly focussed on affordable loan market.
With regard to the outlook on Net Interest Margin (NIM), he said, it would be around 3.5 per cent during the current fiscal.
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