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PNB Housing to Raise Up to $125 Million via ECB in Q3 FY25

18 September 20243 mins read by Angel One
PNB Housing Finance plans to raise up to $125 million through ECB in Q3 FY25, with current borrowings at ₹55,734 crore and term loans accounting for 39.4%.
PNB Housing to Raise Up to $125 Million via ECB in Q3 FY25
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Managing Director and CEO of PNB Housing Finance, Girish Kousgi, is planning to raise up to $125 million through External Commercial Borrowing (ECB) in the third quarter of FY25. 

 

He mentioned that the company has already taken out part of an approved ECB loan of $125 million and is considering raising another $100 to $125 million early next quarter. As of now, PNB Housing Finance’s total borrowing stands at ₹55,734 crore. Term loans make up 39.4% of this amount, followed by deposits at 32.5%, and non-convertible.

Financial Highlights

PNB Housing Finance saw its consolidated net profit rise by 57% year-on-year to ₹439 crore in the January-March quarter of FY24, compared to ₹279 crore in the same period last year. On a sequential basis, profit grew 30% from ₹338 crore in the third quarter of FY24.

 

The company’s net interest income (NII) increased by 7% to ₹632 crore during the quarter, up from ₹593 crore in the previous year. However, the net interest margin (NIM) slightly decreased to 3.65%, down from 3.74% last year, though it remained stable compared to the December 2023 quarter. For the Retail segment, it was 0.94%, while the Corporate segment had a net NPA of 1.11%. Operating expenses rose 23% year-on-year to ₹176 crore, compared to ₹143 crore in Q4 FY23, due to branch expansion and IT infrastructure upgrades.

About PNB Housing Finance Limited

PNB Housing Finance Limited (PNB Housing) is a housing finance company registered with the National Housing Bank (NHB). PNB Housing is a subsidiary of Punjab National Bank (PNB), which owns 51% of its share capital. The company does not have any subsidiaries. In December 2009, PNB Housing entered a financial partnership with Destimoney Enterprises Private Limited (DEPL). Later, in February 2015, DEPL’s majority shareholder, Destimoney Enterprises Limited, sold its entire stake to Quality Investments Holdings, owned by Carlyle Group, a global investment firm. 

 

On September 09, 2024, the share price of PNB Housing Finance Ltd opened at ₹1,012.00, touching the day’s high of ₹1,055.00 at 02:10 PM. 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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