PNB Housing Finance's stock increased more than 10 per cent on Wednesday following a report indicating that the company's more than 1.3 crore shares were exchanged through block deals on the Bombay Stock Exchange.
The share price of PNB Housing Finance touched a day-high level of Rs 894 per share on the Bombay stock exchange. The stock opened at Rs 827.00 per share on the Indian bourse. The share price was trading around Rs 878.35 per share.
The report stated that General Atlantic Singapore Fund FII Pre planned to sell shares at a floor price of Rs 775 per scrip, which would have represented a 4.4 per cent discount to Tuesday's closing price of roughly Rs 810.
As of June 2024, General Atlantic Singapore Fund FII Pte held a 5.13 per cent stake in the company, while Asia Opportunities V (Mauritius) held a 5.19 per cent stake, per Bombay Stock Exchange shareholding data.
PNB housing finance Q1 FY25
In the meantime, PNB Housing Finance reported that its net interest income (NII) increased 3.6 per cent year over year (YoY) to Rs 651 crore for the first quarter of the fiscal year 2025, while its operating profit increased 6.9 per cent YoY to Rs 542.20 crore. During the quarter, net profit increased 24.6 per cent YoY to Rs 432.80 crore.
NPA Q1 FY25
As of June 30, 2024, gross non-performing assets (NPA) decreased by 241 basis points (bps) to 1.35 per cent from 3.76 per cent during the same period the previous year.
During the quarter, Net NPA decreased to 0.92 per cent annually. During the quarter, the company closed one NPA and one written-off corporate account. In Q1 FY25, it recovered roughly Rs 80 crore from the total written-off pool.
exchange filling |
NIM and disburstments
In Q1 FY25, the company's net interest margin was 3.65 per cent, down from 3.65 per cent in Q4 FY24 and 3.86 per cent in Q1 FY24. In Q1 FY25, the cost of borrowing decreased to 7.92 per cent from 7.98 per cent in Q4 FY24 and 7.97 per cent in Q1 FY24.
According to PNB Housing Finance exchange filling, disbursements increased to Rs 4,398 crore, a 19 per cent YoY growth. As of June 30, 2024, retail loan assets had grown by 14.4 per cent YoY to Rs 65,157 crore. As of June 30, 2024, assets under management (AUM) increased by 8 per cent YoY and 2 per cent QoQ to Rs 72,540 crore.
