PNB Housing Finance on Friday reported a 48.6% year-on-year (y-o-y) rise in its consolidated net profit for the quarter ended March to Rs 152.40 crore on the back of an 37% y-o-y growth in revenue from operations to Rs 1,075.93 crore. The company’s provisions, however, jumped 113.5% from the year-ago period to Rs 66.66 crore.
“The cumulative provision for non-performing assets and standard assets is Rs 26.78 crore and Rs 193.97 crore respectively as on 31st March, 2017,” PNB Housing said in a release, adding that it made additional provisions of `15 crore for contingencies.
“The cumulative provision for contingencies is `39.48 crore, over and above the provisions required to be maintained as per NHB (National Housing Bank) directions,” the release stated.
The asset quality showed an improvement, with the gross non-performing asset (NPA) ratio falling 15 basis points (bps) from the end of December 2016 to 0.22% and the net NPA ratio improving to 0.15% from 0.27% a quarter ago.
For the entire FY17, PNB Housing Finance clocked a 43% growth in disbursements over FY16 to `20,639 crore. Disbursements towards housing loans accounted for 70.1% of overall disbursements. The largest share of non-housing loans belonged to the loan-against-property portfolio, which accounted for 57% of all loans other than those for housing.
Retail borrowers account for 82% of the company’s total borrower base, with 40.8% being salaried and a similar share of self-employed borrowers.
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Assets under management (AUM) stood at `41,492 crore as on March 31, up 50.6% from `27,555 crore as on March 31, 2016.
The company sold loans worth `3,377 crore through the loan assignment route during FY17. The loan outstanding grew 42% y-o-y to `38,531 crore at the end of March, 71% of which were housing loans.
The deposit portfolio grew 40% to `9,987 crore from Rs 7,121 crore a year ago.