PNB Housing Finance likely to go for an initial public offering in 2017: The Hindu – Mobile edition #toothfairy #finance


#pnb housing finance

#

“Public spending will have to come to the forefront to boost the sentiment of our people to once again start transacting,” Managing Director Sanjaya Gupta said. | The Hindu

Bets on the robust growth in its lending portfolio and affordable housing segment in metros

PNB Housing Finance, the country’s fifth-largest housing finance company, may go for an initial public offering (IPO) in mid-2017, according to a top official.

“I will be frank, we have to raise capital. Probably in the coming financial year, in the middle of the year, we should be going to the market. We are now large, it makes no sense to remain a private limited company,” Sanjaya Gupta, Managing Director, PNB Housing Finance, told The Hindu.

The company is betting on the robust growth in its lending portfolio from Tier-2 and Tier-3 cities and affordable housing segment in metropolitan cities.

While the realty sector is facing a slump at macro-level, Mr. Gupta said the mass housing segment is still doing well.

“Our bread and butter is the mass section of society where housing is a necessity, not a luxury. Mass housing does not mean the entire lower segment but where the most of our demography lies. If you are talking about Delhi NCR, then you are talking about the range of Rs. 65-Rs.80 lakh flats that are selling,” he said. The more expensive property sales are lower due to ‘sentiment.’

“Public spending will have to come to the forefront to boost the sentiment of our people to once again start transacting,” Mr. Gupta said.

This investment must come mainly in infrastructure, roads, logistics, railways and warehousing.

While the metros account for the bulk of the housing finance business, growth was coming from the smaller cities, he said.

“It is very true that the six big cities in the country give more than 60 per cent of the business but the growth rate is coming from Tier-II and Tier-III cities. That is our focus, to reach out to these cities.”

The housing sector is at a sweet spot for customers, according to Mr.Gupta, who said “now is the best time to buy a house.”

“Speaking as a consumer, this is the right time to buy a house. The menu card is long, there are so many properties available at different sizes, locations and price points. I bought my own house recently and I had been looking around for two years,” he said.

The Finance Minister, in his Budget, must incentivise states to reduce the stamp duty on property to improve sentiment and spur sales.

“If we know that the construction sector is one that can augment the sentiment of the economy, then there should be direct incentives in the sector. Why are stamp duties so high even now? The union finance minister must give grants to states to make up for the difference in state revenue if the state reduces the stamp duty,” Mr. Gupta said.

The state governments must realise that the increase in volumes will make up for most of the difference (due to lower stamp duties) anyway, he added.

“On the one side, the Prime Minister is saying that he will give a subsidy of 6.5 per cent for loans of up to Rs. six lakh for housing. On the other side, you nullify this entire subsidy by taking a higher stamp duty,” Mr. Gupta said.

Mr. Gupta also suggested a portion of the registered value of a property be deductible from the owner’s tax burden.

“If you were to allow people to offset 20-25 per cent of the registered value of property against their tax burden, it will incentivise them to disclose more transactions,” he said.


Corporate Finance, plus MyFinanceLab with Pearson eText, Global Edition – Jonathan Berk – Mixed media product (9780273792086) #motorbikes #on #finance


#my finance lab

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Corporate Finance, plus MyFinanceLab with Pearson eText, Global Edition

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L – T Finance Holdings net up 8% in first quarter: The Hindu Business Line – Mobile edition #finance #now


#l T Finance Holdings (LTFH) reported an eight per cent increase in consolidated net profit at ₹207 crore in the reporting quarter ended June 30, as against ₹192 crore in the year-ago period.

LTFH, which is promoted by promoted by Larsen Toubro, has seven wholly-owned subsidiaries — L T Finance, L T Infrastructure Finance Company, L T Investment Management, L T Capital Markets, L T Housing Finance, Family Credit Ltd, and L T FinCorp.

The financial holding company said consolidated net profit to shareholders (after considering dividend on preference shares on pro-rata basis) was up 21 per cent to ₹175 crore (₹145 crore in the year-ago quarter).

Overall loans and advances grew 17 per cent year-on-year to ₹57,736 crore ( ₹49,218 crore as on June 30, 2015).

“This growth was led by disbursements in housing finance, operational projects in renewable energy, microfinance and two-wheeler finance,” said LTFH in a statement.

As per regulatory requirements, LTFH has started recognising non-performing assets (NPAs) at 120 days of delinquency.

Gross NPAs reduced from 5.45 per cent as on June 30, 2015, to 4.58 per cent of book at the end of the current quarter. Net NPAs reduced from 4.43 per cent to 3.13 per cent.

In the investment management business, average assets under management for the quarter grew 28 per cent y-o-y to ₹28,404 crore.

Meanwhile, the company said Dinanath Dubhashi has been elevated as Managing Director. Earlier, he was Deputy Managing Director.


Big Data: Talend Big Data Integration Products – Services, pentaho data integration community edition.#Pentaho #data #integration #community #edition


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PNB Housing Finance net up 66% in FY’16: The Hindu Business Line – Mobile edition #online #finance


#pnb housing finance

#

Updated: May 13, 2016 19:28 IST | K. R. Srivats

PNB Housing Finance Ltd (PNBHFL) has reported a 66 percent increase in net profit for the year ended March 2016 at Rs 326 crore (Rs 196 crore). Total income for the year grew 52 per cent to Rs 2,697 crore.

Commenting on the financial performance, Sanjaya Gupta, Managing Director, PNBHFL said that the results are encouraging and at “par with our expectations”.

“Financial year 2015-16 has been a year of high significance as we attained the status of one of the leading housing finance companies surpassing assets under management of Rs 27,000 crore”, Gupta said in a statement here.

Net interest margin for the year ended March 31, 2016 stood at 3.08% as against 3.21% in the previous year.

PNBHFL is a subsidiary of Punjab National Bank. Quality Holding Investments (owned by Carlyle Group) is the other significant shareholder in PNBHFL.


Manappuram Finance fiscal net profit up 30%: The Hindu Business Line – Mobile edition #pcp #car #finance


#manappuram finance

#

Manappuram Finance Ltd has posted a 30 per cent increase in its net profit at ₹353.36 crore in FY’16 compared with ₹271.31 crore reported in FY’15.

Operating income stood at ₹2,360.23 crore, higher by 18.8 per cent, in comparison with ₹1,986.42 crore recorded in the previous fiscal.

An interim dividend of ₹0.45 per share for the quarter was earlier declared in March this year. Accordingly, the board has not proposed any further dividend. Total dividend for the year amounted to ₹1.80 per share.

V P Nandakumar, Managing Director CEO, said, “Wth this performance, we can say with conviction that we are back on the growth path. Our new businesses have done well and we look forward with optimism to the prospect of becoming a diversified NBFC.”

The company’s consolidated assets under management also rose to ₹ 11,433 crore from ₹9,593 crore recorded in the previous fiscal year.

The recent diversification into new business areas has gained further traction with new businesses now contributing about 12 per cent of its consolidated AUM. Microfinance subsidiary, Asirvad Microfinance Pvt Ltd, had ended the year with an AUM of ₹998.82 crore, representing a growth of 210 per cent over ₹322 crore.

Commercial vehicle loans and mortgage-based finance (housing loans and loans against property) have contributed ₹302.52 crore to the total AUM. Their contribution in the preceding fiscal year was ₹44.80 crore.


6th Edition Chapter 3 Solutions #alpha #finance


#my finance lab

#

(6th Edition)

Reviewing basic financial statements The income statement for the year ended December 31, 2012, the balance sheets for December 31, 2012 and 2011, and the statement of retained earnings for the year ended December 31, 2012, for Technica, Inc. are given below and on the following page. Briefly discuss the form and informational content of each of these statements.

Technica, Inc. Income Statement for the Year Ended December 31, 2012

Sales revenue $600,000

Less: Cost of goods sold

Less: Operating expenses

General and administrative

Total operating expense

Less: Interest expense

Net profits before taxes

Earnings available for common stockholders

Earnings per share (EPS) $2.15

Technica, Inc. Balance Sheets

Total current assets

Land and buildings

Machinery and equipment

Furniture and fixtures

Total gross fixed assets

Less: Accumulated depreciation

Net fixed assets

Liabilities and Stockholders’ Equity

Total current liabilities

Common stock equity (shares outstanding:19,500 in 2012 and 20,000 in 2011) $110,200 $120,000

Total stockholders’ equity

Total liabilities and stockholders’ equity

Technica, Inc. Statement of Retained Earnings for the Year Ended December 31, 2012

Retained earnings balance (January 1, 2012)

Plus: Net profits after taxes (for 2012)

Less: Cash dividends (paid during 2012)

Retained earnings balance (December 31, 2012)

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L – T Finance Holdings net up 8% in first quarter: The Hindu Business Line – Mobile edition #masters #of #finance


#l T Finance Holdings (LTFH) reported an eight per cent increase in consolidated net profit at ₹207 crore in the reporting quarter ended June 30, as against ₹192 crore in the year-ago period.

LTFH, which is promoted by promoted by Larsen Toubro, has seven wholly-owned subsidiaries — L T Finance, L T Infrastructure Finance Company, L T Investment Management, L T Capital Markets, L T Housing Finance, Family Credit Ltd, and L T FinCorp.

The financial holding company said consolidated net profit to shareholders (after considering dividend on preference shares on pro-rata basis) was up 21 per cent to ₹175 crore (₹145 crore in the year-ago quarter).

Overall loans and advances grew 17 per cent year-on-year to ₹57,736 crore ( ₹49,218 crore as on June 30, 2015).

“This growth was led by disbursements in housing finance, operational projects in renewable energy, microfinance and two-wheeler finance,” said LTFH in a statement.

As per regulatory requirements, LTFH has started recognising non-performing assets (NPAs) at 120 days of delinquency.

Gross NPAs reduced from 5.45 per cent as on June 30, 2015, to 4.58 per cent of book at the end of the current quarter. Net NPAs reduced from 4.43 per cent to 3.13 per cent.

In the investment management business, average assets under management for the quarter grew 28 per cent y-o-y to ₹28,404 crore.

Meanwhile, the company said Dinanath Dubhashi has been elevated as Managing Director. Earlier, he was Deputy Managing Director.


Magma Fincorp to focus on housing finance, auto loans: The Hindu Business Line – Mobile edition #ge #capital #finance


#magma finance

#

Updated: February 12, 2016 17:12 IST | V. Sajeev Kumar

The Kolkata-based NBFC Magma Fincorp Ltd is looking at a 20 per cent growth in FY16 with a focus on auto loans, housing finance and used vehicle loans.

“Over the past months we have been able to build a strong team to deliver numbers in auto loans and affordable housing and expect to grow at over 20 per cent in each of the products,” Dhrubashish Bhattacharya, Vice-President, Magma Fincorp, said.

The company’s focus on auto loans, which has been the mainstay so far, will also continue and the renewed focus on the rural and semi-rural markets will come in handy, he told presspersons here on Friday.

With a 3.9-lakh customer base, he said the company has a loan book position of ₹18,812 crore. Last year, disbursals were at ₹8,788 crore and Kerala contributed five per cent of the loan book through its 10 branches spread across the State.

According to him, unfavourable external market conditions, especially in agri, commercial vehicles and construction equipments loans, have contributed to a rise in NPAs, which hover at three per cent. However, the focus was now on bringing it down by engaging a dedicated team to focus on delinquent cases, he added.


PNB Housing Finance likely to go for an initial public offering in 2017: The Hindu – Mobile edition #second #chance #finance


#pnb housing finance

#

“Public spending will have to come to the forefront to boost the sentiment of our people to once again start transacting,” Managing Director Sanjaya Gupta said. | The Hindu

Bets on the robust growth in its lending portfolio and affordable housing segment in metros

PNB Housing Finance, the country’s fifth-largest housing finance company, may go for an initial public offering (IPO) in mid-2017, according to a top official.

“I will be frank, we have to raise capital. Probably in the coming financial year, in the middle of the year, we should be going to the market. We are now large, it makes no sense to remain a private limited company,” Sanjaya Gupta, Managing Director, PNB Housing Finance, told The Hindu.

The company is betting on the robust growth in its lending portfolio from Tier-2 and Tier-3 cities and affordable housing segment in metropolitan cities.

While the realty sector is facing a slump at macro-level, Mr. Gupta said the mass housing segment is still doing well.

“Our bread and butter is the mass section of society where housing is a necessity, not a luxury. Mass housing does not mean the entire lower segment but where the most of our demography lies. If you are talking about Delhi NCR, then you are talking about the range of Rs. 65-Rs.80 lakh flats that are selling,” he said. The more expensive property sales are lower due to ‘sentiment.’

“Public spending will have to come to the forefront to boost the sentiment of our people to once again start transacting,” Mr. Gupta said.

This investment must come mainly in infrastructure, roads, logistics, railways and warehousing.

While the metros account for the bulk of the housing finance business, growth was coming from the smaller cities, he said.

“It is very true that the six big cities in the country give more than 60 per cent of the business but the growth rate is coming from Tier-II and Tier-III cities. That is our focus, to reach out to these cities.”

The housing sector is at a sweet spot for customers, according to Mr.Gupta, who said “now is the best time to buy a house.”

“Speaking as a consumer, this is the right time to buy a house. The menu card is long, there are so many properties available at different sizes, locations and price points. I bought my own house recently and I had been looking around for two years,” he said.

The Finance Minister, in his Budget, must incentivise states to reduce the stamp duty on property to improve sentiment and spur sales.

“If we know that the construction sector is one that can augment the sentiment of the economy, then there should be direct incentives in the sector. Why are stamp duties so high even now? The union finance minister must give grants to states to make up for the difference in state revenue if the state reduces the stamp duty,” Mr. Gupta said.

The state governments must realise that the increase in volumes will make up for most of the difference (due to lower stamp duties) anyway, he added.

“On the one side, the Prime Minister is saying that he will give a subsidy of 6.5 per cent for loans of up to Rs. six lakh for housing. On the other side, you nullify this entire subsidy by taking a higher stamp duty,” Mr. Gupta said.

Mr. Gupta also suggested a portion of the registered value of a property be deductible from the owner’s tax burden.

“If you were to allow people to offset 20-25 per cent of the registered value of property against their tax burden, it will incentivise them to disclose more transactions,” he said.