GIC Housing Finance Stock Price, Share Price, Live BSE, pnb housing finance.#Pnb #housing #finance


GIC Housing Finance

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Pnb housing finance

63% of moneycontrol users recommend buying GIC Housing Fin. What’s your call on GIC Housing Fin today?

Pnb housing finance

Pnb housing finance

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14 November 2017

Vedanta Nov Fut

Mindtree Nov Fut

Click here to view the Open, High, Low, Close, Volume and Spread data for GIC Housing Fin

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Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Pnb housing finance

Minda Industries Recommended on Nov 24th 2016

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Our experts panel will help you to get you those life-changing stocks, tomorrow’s bluechips today.

About GIC Housing Fin

GIC Housing Fin is in the Finance – Housing sector. The current market capitalisation stands at Rs 2,318.56 crore.


PNB Housing Finance IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status, pnb housing finance.#Pnb #housing #finance


PNB Housing Finance Ltd IPO (PNB Housing Finance IPO) Detail

Pnb housing finance

Save Over 60% on Brokerage & Taxes

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today.

Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India’s No. 1 IPO Investment Portal.

Company’s target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.

1. Fifth largest HFC in India and the fastest growing HFC among the leading HFCs in India

2. Strong distribution network with deep penetration of key Indian urban centres

3. Scalable operating model and centralised and streamlined operational structure

4. Access to diversified and cost-effective funding sources

5. Diversified product offering with specific focus on self-employed customers

6. Customer-centric approach resulting in strong brand recognition

7. Prudent credit underwriting, monitoring and collection processes

8. Managed by experienced and qualified professionals with strong industry expertise

9. Support from their parent and promoter PNB

Company Promoters:

The Promoter of the Company is Punjab National Bank (“PNB”). PNB (directly and through its nominees) holds 64,730,700 Equity Shares which constitutes 51.00%, of the Company’s pre-Issue paid-up and subscribed Equity Share capital.


PNB Housing Finance IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status, pnb housing finance.#Pnb #housing #finance


PNB Housing Finance Ltd IPO (PNB Housing Finance IPO) Detail

Pnb housing finance

Save Over 60% on Brokerage & Taxes

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today.

Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India’s No. 1 IPO Investment Portal.

Company’s target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.

1. Fifth largest HFC in India and the fastest growing HFC among the leading HFCs in India

2. Strong distribution network with deep penetration of key Indian urban centres

3. Scalable operating model and centralised and streamlined operational structure

4. Access to diversified and cost-effective funding sources

5. Diversified product offering with specific focus on self-employed customers

6. Customer-centric approach resulting in strong brand recognition

7. Prudent credit underwriting, monitoring and collection processes

8. Managed by experienced and qualified professionals with strong industry expertise

9. Support from their parent and promoter PNB

Company Promoters:

The Promoter of the Company is Punjab National Bank (“PNB”). PNB (directly and through its nominees) holds 64,730,700 Equity Shares which constitutes 51.00%, of the Company’s pre-Issue paid-up and subscribed Equity Share capital.


PNB Housing Finance Stock Price, Share Price, Live BSE, pnb housing finance.#Pnb #housing #finance


PNB Housing Finance

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Market Depth (14 Nov 2017)

Pnb housing finance

  • Pnb housing finance

    59% of moneycontrol users recommend buying PNB Housing Fin. What’s your call on PNB Housing Fin today?

    Pnb housing finance

    Pnb housing finance

    Top Trading Ideas

    14 November 2017

    Vedanta Nov Fut

    Mindtree Nov Fut

    Click here to view the Open, High, Low, Close, Volume and Spread data for PNB Housing Fin

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Minda Industries Recommended on Nov 24th 2016

    What are Multi baggers?

    Our experts panel will help you to get you those life-changing stocks, tomorrow’s bluechips today.

    About PNB Housing Fin

    PNB Housing Fin is in the Finance – Housing sector. The current market capitalisation stands at Rs 22,578.30 crore.


  • PNB Housing Finance IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status, pnb housing finance.#Pnb #housing #finance


    PNB Housing Finance Ltd IPO (PNB Housing Finance IPO) Detail

    Pnb housing finance

    Save Over 60% on Brokerage & Taxes

    We can help you save between 60% to 90% brokerage fee & taxes. Contact us today.

    Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India’s No. 1 IPO Investment Portal.

    Company’s target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

    The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.

    1. Fifth largest HFC in India and the fastest growing HFC among the leading HFCs in India

    2. Strong distribution network with deep penetration of key Indian urban centres

    3. Scalable operating model and centralised and streamlined operational structure

    4. Access to diversified and cost-effective funding sources

    5. Diversified product offering with specific focus on self-employed customers

    6. Customer-centric approach resulting in strong brand recognition

    7. Prudent credit underwriting, monitoring and collection processes

    8. Managed by experienced and qualified professionals with strong industry expertise

    9. Support from their parent and promoter PNB

    Company Promoters:

    The Promoter of the Company is Punjab National Bank (“PNB”). PNB (directly and through its nominees) holds 64,730,700 Equity Shares which constitutes 51.00%, of the Company’s pre-Issue paid-up and subscribed Equity Share capital.


    Home Loan – Compares Rates & EMI of SBI, HDFC, ICICI, Axis, PNB, DHFL, LIC at Deal4loans, pnb housing finance.#Pnb #housing #finance


    HOME LOAN

    Home loan is really critical and important financial decision in our lives. Before you finalise your bank to secure home loan, try to get more information on current interest rates from different banks. First, gather some more information about how much each bank can give you. Find out eligibility for government and private banks. Which interest rate is more flexible and affordable such as fixed rates or floating rates? What is more easy a prepay option or balance transfer? We try to give answers to all such questions, and make this home loan process simple for you. To find the lender for 20 years term go through the fine print and save for years to come. A perfect Home loan is loan which gives you lowest rates throughout the tenure, has part payment options and allows you to balance transfer if you wish to.

    Pnb housing finance

    with Lowest Rates ?

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Should I take Home loan now or wait ?

    The right time to take a Home loan is when:

    • The Property you intend to buy is good and cannot be missed or it is expected that the price of property will rise.
    • The EMI that you have to pay per month is above your monthly expense budgets etc.

    Bonanza for home loan seekers as govt. offers interest subsidy for those earning 6 lakh – 18 lakh. The scheme has been envisaged for one year. Those who have been sanctioned housing loans and whose applications are under consideration since January 1 this year are also eligible for interest subsidy. Prime Minister Narendra Modi had earlier announced an interest subsidy of 4 per cent on housing loans of up to ₹9 lakh for those earning up to 12 lakh per year under PMAY SCHEME 2017. A subsidy of 3 per cent on housing loans of up to 12 lakh for those earning up to 18 lakh per year.

    Major Home Loan providers in India

    The first step involved in the process is to find your property, which is followed by the verification of property documents, post that the documents are examined. Simultaneously, you can start searching for the lender who can offer the best home loan deal after checking your eligibility criteria.

    Know the Home Loan Eligibility: Banks offer the loan amount based on your monthly income and the value of the property. They will give you max amount in which your EMI of home loan and others loans is 50-60% of your income. Other factor is value of that property.

    Applying for the Loan : After you have selected your lender, you have to fill in the application form, wherein the lender requires complete information about your financial assets liabilities; other personal professional details together with the property details its costs.

    Documentation Verification Process: You are required to submit the necessary documents to the bank, which will be verified together with the details in the application

    Bank sanctions Loan Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount sanctions the loan, the bank further sends an offer letter to the borrower, which constitutes the details like rate of interest, loan tenure repayment options etc.

    Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity, so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

    The borrower signs the loan agreement the bank disburses the loan amount.

    Documents required in Home Loan

    Generally, the documents required to process your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:

    • Income
    • Age Proof
    • Address Proof
    • Income Proof of the applicant & co-applicant
    • Last 6 months bank A/C statement
    • Passport size photograph of the applicant & co-applicant

    How is my Home loan Eligibility Calculated

    • Income
    • Qualifications
    • Age
    • Spouse s income
    • No. of dependants
    • Stability and continuity of occupation
    • Assets/LiabilitiesM.
    • Savings history.

    The most important concern of banks in determining your loan eligibility is that whether or not you are contentedly able to pay off the amount you borrow.

    Fixed and floating rate of interest

    When you avail a home loan EMI is calculated either on fixed rate of interest or according to the floating rate of interest. Before finalizing either, you must take a note of both the patterns and take a well-calculated decision. Generally, home loan is taken for a longer tenure compared to other loans such as personal loan or car loan. You borrow the loan for at least for10 years and maximum upto 30 years. In such scenario, you end up paying a huge amount as interest on your principal amount. Therefore, the difference of 0.5% can make huge impact on your overall interest amount. Let’s take a close look at both the patterns of interest.

    Fixed rate of interest: Generally, in fixed rate of interest, the percentage of interest is fixed for whole tenure and same percentage of interest is charged throughout the loan. It makes the EMI payable at a constant sum throughout the tenure. Therefore, it is always recommended that you opt fixed rate of interest only when the rates are bottom down and if an upward trend is expected.

    Floating rate of interest: Floating rates of interest changed with the market lending rates. Therefore, these rates are prone to fluctuations. The interest rate on your EMI might get increased or decreased depending upon the fluctuation in the market lending rates. In this case, bank provide an alternative to increase the tenure of the loan, at a constant EMI, for the borrowers who do not desire their EMI to be increased in case of higher interest rates.

    How to calculate interest rate?

    While applying for a home loan, the most important question is rate of interest. One more thing, which is equally important is how interest is calculated by respective bank. Banks are required to quote interest rates on a ‘reducing balance’ basis. Let’s take a look how this whole formula works:

    For instance: You have taken a loan of Rs. 1 lakh for a period of one year at an interest rate of 10.00% per annum, on a monthly reducing balance basis. In this situation, you will pay 12 equated monthly instalment’s (EMIs), with a part of each EMI going towards repaying the principal amount borrowed (Rs 1 lakh), and the balance towards servicing the interest on your loan. What is important to note is reducing balance calculation is the interest component of your EMI keeps changing, from a high initial amount in the early part of your loan, to a nominal figures as the loan comes to an end.


    Home Loan – Compares Rates & EMI of SBI, HDFC, ICICI, Axis, PNB, DHFL, LIC at Deal4loans, pnb housing finance.#Pnb #housing #finance


    HOME LOAN

    Home loan is really critical and important financial decision in our lives. Before you finalise your bank to secure home loan, try to get more information on current interest rates from different banks. First, gather some more information about how much each bank can give you. Find out eligibility for government and private banks. Which interest rate is more flexible and affordable such as fixed rates or floating rates? What is more easy a prepay option or balance transfer? We try to give answers to all such questions, and make this home loan process simple for you. To find the lender for 20 years term go through the fine print and save for years to come. A perfect Home loan is loan which gives you lowest rates throughout the tenure, has part payment options and allows you to balance transfer if you wish to.

    Pnb housing finance

    with Lowest Rates ?

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Pnb housing finance

    Should I take Home loan now or wait ?

    The right time to take a Home loan is when:

    • The Property you intend to buy is good and cannot be missed or it is expected that the price of property will rise.
    • The EMI that you have to pay per month is above your monthly expense budgets etc.

    Bonanza for home loan seekers as govt. offers interest subsidy for those earning 6 lakh – 18 lakh. The scheme has been envisaged for one year. Those who have been sanctioned housing loans and whose applications are under consideration since January 1 this year are also eligible for interest subsidy. Prime Minister Narendra Modi had earlier announced an interest subsidy of 4 per cent on housing loans of up to ₹9 lakh for those earning up to 12 lakh per year under PMAY SCHEME 2017. A subsidy of 3 per cent on housing loans of up to 12 lakh for those earning up to 18 lakh per year.

    Major Home Loan providers in India

    The first step involved in the process is to find your property, which is followed by the verification of property documents, post that the documents are examined. Simultaneously, you can start searching for the lender who can offer the best home loan deal after checking your eligibility criteria.

    Know the Home Loan Eligibility: Banks offer the loan amount based on your monthly income and the value of the property. They will give you max amount in which your EMI of home loan and others loans is 50-60% of your income. Other factor is value of that property.

    Applying for the Loan : After you have selected your lender, you have to fill in the application form, wherein the lender requires complete information about your financial assets liabilities; other personal professional details together with the property details its costs.

    Documentation Verification Process: You are required to submit the necessary documents to the bank, which will be verified together with the details in the application

    Bank sanctions Loan Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount sanctions the loan, the bank further sends an offer letter to the borrower, which constitutes the details like rate of interest, loan tenure repayment options etc.

    Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity, so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

    The borrower signs the loan agreement the bank disburses the loan amount.

    Documents required in Home Loan

    Generally, the documents required to process your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:

    • Income
    • Age Proof
    • Address Proof
    • Income Proof of the applicant & co-applicant
    • Last 6 months bank A/C statement
    • Passport size photograph of the applicant & co-applicant

    How is my Home loan Eligibility Calculated

    • Income
    • Qualifications
    • Age
    • Spouse s income
    • No. of dependants
    • Stability and continuity of occupation
    • Assets/LiabilitiesM.
    • Savings history.

    The most important concern of banks in determining your loan eligibility is that whether or not you are contentedly able to pay off the amount you borrow.

    Fixed and floating rate of interest

    When you avail a home loan EMI is calculated either on fixed rate of interest or according to the floating rate of interest. Before finalizing either, you must take a note of both the patterns and take a well-calculated decision. Generally, home loan is taken for a longer tenure compared to other loans such as personal loan or car loan. You borrow the loan for at least for10 years and maximum upto 30 years. In such scenario, you end up paying a huge amount as interest on your principal amount. Therefore, the difference of 0.5% can make huge impact on your overall interest amount. Let’s take a close look at both the patterns of interest.

    Fixed rate of interest: Generally, in fixed rate of interest, the percentage of interest is fixed for whole tenure and same percentage of interest is charged throughout the loan. It makes the EMI payable at a constant sum throughout the tenure. Therefore, it is always recommended that you opt fixed rate of interest only when the rates are bottom down and if an upward trend is expected.

    Floating rate of interest: Floating rates of interest changed with the market lending rates. Therefore, these rates are prone to fluctuations. The interest rate on your EMI might get increased or decreased depending upon the fluctuation in the market lending rates. In this case, bank provide an alternative to increase the tenure of the loan, at a constant EMI, for the borrowers who do not desire their EMI to be increased in case of higher interest rates.

    How to calculate interest rate?

    While applying for a home loan, the most important question is rate of interest. One more thing, which is equally important is how interest is calculated by respective bank. Banks are required to quote interest rates on a ‘reducing balance’ basis. Let’s take a look how this whole formula works:

    For instance: You have taken a loan of Rs. 1 lakh for a period of one year at an interest rate of 10.00% per annum, on a monthly reducing balance basis. In this situation, you will pay 12 equated monthly instalment’s (EMIs), with a part of each EMI going towards repaying the principal amount borrowed (Rs 1 lakh), and the balance towards servicing the interest on your loan. What is important to note is reducing balance calculation is the interest component of your EMI keeps changing, from a high initial amount in the early part of your loan, to a nominal figures as the loan comes to an end.


    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.


    PNB Housing Finance files draft papers for Rs 2500cr IPO #manappuram #finance


    #pnb housing finance

    #

    PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

    The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

    According to the Draft Red Herring Prospectus (DRHP), the company plans to raise up to Rs 2,500 crore through the initial share sale and a portion would be reserved for the employees.

    The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

    “We believe that the listing of our equity shares will enhance our visibility and brand name among existing and potential customers,” it added.

    For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

    At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

    Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

    The company plans to grow business and loan portfolio by consolidating position in key geographies as well as by expanding into specific target markets such as the affordable housing segment.


    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.