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PNB Housing Finance conducted a conference call on 24 January 2018 to discuss its financial results for the quarter ended December 2017. Sanjaya Gupta, managing director of the company addressed the call:
Highlights:
The company has posted strong 53% surge in the overall AUM to Rs 57668 crore end December 2017 over December 2016. The loan portfolio of the company increased 61% to Rs 55296 crore, while the loans sold outstanding dipped 31% to Rs 2373 crore end December 2017 over December 2016.
Within the loan portfolio, the home loan segment accounted for 69.7% of the overall loan book and non home loan segment had a share of 30.3% in the loan book. In the home loan book, the individual housing loans accounted for 57.2% and construction finance for 12.5%. In the non-housing loan book, the loan against property accounted for 16%.
The disbursements increased 110% to Rs 9276 crore in the quarter ended December 2017.
As per the company, about 21% of disbursements were in below Rs 25 lakh category in 9MFY18.
The company has added new 17 branches in 9MFY18, while also extended Central Processing Center to Mumbai.
Gross NPA ratio rose to 0.42% at end December 2017 from 0.34% a quarter ago and 0.37% a year ago. Meanwhile, Net NPA ratio also rose to 0.33% at end December 2017 from 0.26% a quarter ago. In absolute terms, GNPA stood at Rs 242.2 crore and NNPA at Rs 182.5 crore at end December 2017.
The gross NPA ratio for the home loan segment stands at 0.49% for non home loan segment at 0.39% and loan against property at 0.59%.
The company repossessed 274 properties worth Rs 170 crore in FY2017 and 119 properties worth Rs 65 crore in 9MFY18, while it has disposed 61 properties amounting to Rs 32 crore in 9MFY18. The company expects the auction process to accelerate in Q4.
The company expects it spreads to compress by 10-12 bps over next 12-15 months, while it would maintain spreads of 195-210 bps.
About 73% of the loan portfolio of the company is at variable interest rate.
The deposits with the company have increased 22% to Rs 10668 crore at end December 2017. The company proposes to have liability mix from deposits at 25%, NCD 45%, CP 15-18%, banks 10%, NHB refinance 5%.
The company has planned a masala bond issuance of US$ 500 million, while. IFC is an anchor for the issue.
The company expects housing loan industry growth at 16 to 18%, while it proposes to grow at 1.5 to 1.7 x of the industry growth.
The company expects to improve its RoA to 1.75 to 1.85% in next 2 years.
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