Total income grew by 10.76% year on year to Rs 1,813.97 crore in the quarter ended 31 March 2024.

Profit before tax in Q4 FY24 stood at Rs 559.81 crore, registering a growth of 63.45% from Rs 342.50 crore posted in the same period a year ago.

Net interest income (NII) was at Rs 632 crore in the March quarter, up 7% YoY. Net interest margin (NIM) declined to 3.65% in Q4 FY24 as compared to 3.74% registered in Q4 FY23.

Pre-provision operating profit was at Rs 566 crore ,rising 16.22% YoY. Operating expenditure increased by 23% YoY to Rs 176 crore during the quarter, primarily on account of branch expansion and upgradation of IT infrastructure.

The disbursements during Q4 FY24 stood at Rs 5,574 crore, registering a growth of 24% YoY. Retail disbursements were up 24% at Rs 5,541 crore in Q4 FY23.

On full year basis, the company’s consolidated net profit climbed 44.17% to Rs 1,508.01 crore on 8.08% increase in total income to Rs 7,057.09 crore in FY24 over FY23.

Asset under management (AUM) grew by 7% YoY to Rs 68,549 crore as on 31 March 2024. Loan Asset increased by 10% YoY to Rs 65,358 crore as on 31 March 2024.

Gross non-performing assets (NPA) was at 1.50% as on 31 March 2024 as compared to 3.83% as on 31 March 2023. Net NPA stood at 0.95% as on 31 March 2024.

The company’s capital to risk asset ratio (CRAR) stood at 29.26% as on 31 March 2024 as compared 24.43% as on 31 March 2023. Of which tier I capital is 27.90% and tier II is 1.36% as on 31 March 2024.

As on 31 March 2024, the company has 300 branches / outreach locations. Affordable business presence expanded to 160 branches as on 31 March 2024.

Girish Kousgi, managing director & CEO of PNB Housing Finance, said, “During the Financial Year 2023-24, the company made significant progress across various business and financial parameters. Moreover, our expansion into high yielding affordable segment and the growth of our retail loan book showcases our commitment towards meeting diverse market needs.

With the opening of new branches, we have not only expanded our reach but also strengthened our presence in tier II & III markets. We have witnessed a remarkable improvement in the asset quality, which reduced by 57% year-on-year. As we move ahead, we look forward with optimism that our fundamentals position us well to achieve the desired growth and profitability.”

PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses.