Net interest income improved by 67% YoY and 13% QoQ to Rs 734 crore. During the quarter, there was a net positive impact of Rs 79 crore due to assigned loans. Net interest margin stood at 4.68% in Q3 FY23 as compared with 4.14% in Q2 FY23. Gross margin, net of acquisition cost, stood at 4.94% in Q3 FY23 as compared with 4.47% in Q2 FY23.

Operating expenditure increased by 8% YoY and decreased by 8% QoQ to Rs 124 crore.

Spread on loans stood at 3.83% in Q3 FY23 as against 3.38% in Q2 FY23. Excluding the net positive impact on assigned loans, the Spread for Q3 FY23 is 3.28%.

Disbursement jumped 21% to Rs 3,425 crore in Q3 FY23 over Q3 FY22. Asset under management (AUM) is at Rs 65,753 crore as on 31 December 2022 as compared to Rs 67,587 crore as on 31 December 2021.

The loan asset stood at Rs 58,034 crore as on 31 December 2022 as against Rs 57,845 crore as on 31 December 2021. Retail loans stood at Rs 53,123 crore (up 7% YoY), corporate loans are at Rs 4,911 crore (down 39% YoY).

As on 31 December 2022, Rs 2,037 crore has been restructured under the RBI's resolution framework for Covid19 related stress.

Gross Non-Performing Assets (NPAs) is at 4.87% in Q3 FY23 as compared with 6.06% in Q2 FY23. Retail GNPA was at 2.86% in Q3 FY23 as against 3.39% in Q2 FY23. Corporate GNPA is 26.61% in Q3 FY23 as compared to 30.37% in Q2 FY23. Net NPA stood at 3.22% in Q3 FY23.

The company's CRAR stood at 24.60% as on 31 December 2022, of which Tier I capital was 22.43% and Tier II was 2.17% as compared to 21.59% as on 31 December 2021, of which Tier I capital was 18.90% and Tier II capital was 2.69%.

Girish Kousgi, managing director and CEO said, "In affordable business, we have expanded our presence to 82 branches/outreaches, which will contribute to the company's strategy of building book in this segment. We continue to focus on loan asset growth and asset quality improvement while being profitable."

Meanwhile, the board has approved the issuance of non convertible debentures aggregating up to Rs 2,000 crore on private placement basis in one or more tranches.

PNB Housing Finance is primarily engaged in the business of providing loans to individuals and corporate bodies for purchase, construction, repair and up-gradation of houses. It also provides loans for commercial space, loan against property and loan for purchase of residential plots.