PNB Housing Finance Q2 results: Net profit down 25% at Rs 235.21 cr
Real Estate

PNB Housing Finance Q2 results: Net profit down 25% at Rs 235.21 cr

Housing finance company PNB Housing Finance has registered a decline of 25% in its consolidated net profit for the quarter ended September 2021.

Its profit after tax (PAT) reached Rs 235.21 crore in Q2 FY22 compared to Rs 313.29 crore it recorded in the similar quarter previous fiscal, the company said in a BSE filing.

The firm's net consolidated total revenue reached Rs 1,586.41 crore in Q2 FY22, a drop of 22% from Rs 2,021.50 crore it reported in the corresponding quarter of the previous year.

Hardayal Prasad, managing director and CEO of the firm, told the media that the firm reported a healthy increase in disbursements with 96% disbursements in the retail sector during the quarter. With a focus on the retail sector, the degrowth in retail loan assets is managed during the quarter.

With the opening up of the field movement and legal machinery after the second wave of Covid, they observed enhanced resolutions in Q2 FY22, leading to retail NPA dropping by 14% on an absolute basis during the quarter.

In the regulatory filing, the firm said that the board of directors permitted the issuance of secured and unsecured non-convertible debentures (NCDs) totalling up to an amount of Rs 2,000 crore in one or more tranches on a private placement basis. The board had decided in October this year not to continue with the preferential issue of Rs 4,000 crore passed on May 31, 2021.

The primary goal is to raise capital to help the firm's growth, and it believes that the present situation of protracted litigation, a continuation of Securities Appellate Tribunal (SAT) interim order and pending regulatory permissions is not in the best interests of the firm and its stakeholders.

PNB Housing has applied to revoke its appeal to SAT. Further, the Supreme Court on October 20, 2021, dismissed the appeal listed by SEBI saying that since an application has been moved for appeal withdrawal before the SAT, the appeal with SC becomes infructuous.

During the quarter ended September 30, 2021, PNB Housing has allocated 69,450 equity shares of Rs 10 each pursuant to the exercise of stock options by employees. Its debt-equity ratio reached 5.93, net worth was Rs 9,351.04 crore, total debt to total assets ratio was 0.83, the net profit margin was 14.41%, the firm told the media.

Image Source

Also read: DLF Q2 results: Net profit increases 64% to Rs 378.95 cr
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Housing finance company PNB Housing Finance has registered a decline of 25% in its consolidated net profit for the quarter ended September 2021. Its profit after tax (PAT) reached Rs 235.21 crore in Q2 FY22 compared to Rs 313.29 crore it recorded in the similar quarter previous fiscal, the company said in a BSE filing. The firm's net consolidated total revenue reached Rs 1,586.41 crore in Q2 FY22, a drop of 22% from Rs 2,021.50 crore it reported in the corresponding quarter of the previous year. Hardayal Prasad, managing director and CEO of the firm, told the media that the firm reported a healthy increase in disbursements with 96% disbursements in the retail sector during the quarter. With a focus on the retail sector, the degrowth in retail loan assets is managed during the quarter. With the opening up of the field movement and legal machinery after the second wave of Covid, they observed enhanced resolutions in Q2 FY22, leading to retail NPA dropping by 14% on an absolute basis during the quarter. In the regulatory filing, the firm said that the board of directors permitted the issuance of secured and unsecured non-convertible debentures (NCDs) totalling up to an amount of Rs 2,000 crore in one or more tranches on a private placement basis. The board had decided in October this year not to continue with the preferential issue of Rs 4,000 crore passed on May 31, 2021. The primary goal is to raise capital to help the firm's growth, and it believes that the present situation of protracted litigation, a continuation of Securities Appellate Tribunal (SAT) interim order and pending regulatory permissions is not in the best interests of the firm and its stakeholders. PNB Housing has applied to revoke its appeal to SAT. Further, the Supreme Court on October 20, 2021, dismissed the appeal listed by SEBI saying that since an application has been moved for appeal withdrawal before the SAT, the appeal with SC becomes infructuous. During the quarter ended September 30, 2021, PNB Housing has allocated 69,450 equity shares of Rs 10 each pursuant to the exercise of stock options by employees. Its debt-equity ratio reached 5.93, net worth was Rs 9,351.04 crore, total debt to total assets ratio was 0.83, the net profit margin was 14.41%, the firm told the media. Image Source Also read: DLF Q2 results: Net profit increases 64% to Rs 378.95 cr

Next Story
Real Estate

Maharashtra Builders Must Add Waterproof Telecom Centres In Buildings

The Maharashtra Urban Development Department (UDD) has issued a notice (dated 30 September 2024) inviting suggestions and objections regarding a proposed addendum to the Model Building Bye-Laws 2016, issued by the Ministry of Housing and Urban Affairs (MoHUA). The addendum is set to be incorporated into the Development Control and Promotion Regulations – 2034 for Greater Mumbai. Aimed at enhancing digital connectivity infrastructure in Mumbai and its suburbs, the notice calls on architects, developers, and town planners to provide input on the inclusion of Common Telecommunication Infrastru..

Next Story
Technology

Year-End Review 2024: MeitY’s Digital Leap

In 2024, the Ministry of Electronics and Information Technology (MeitY) spearheaded significant initiatives to advance India's digital growth, with a focus on artificial intelligence (AI), cybersecurity, and skill development. These efforts aimed to democratise technology, foster innovation, and cement India's position as a global technology leader. Semiconductor Manufacturing under the Semicon India Programme Several major projects received approval under the Semicon India Programme, marking a pivotal year for semiconductor manufacturing in India: 1. Tata Electronics Private Limited (TEPL)..

Next Story
Infrastructure Transport

Indian Railways to Roll Out Kavach 4.0 For Safer Rail Operations

Indian Railways is advancing efforts to boost safety and operational efficiency by deploying the state-of-the-art Kavach 4.0 automatic train protection system across key routes. The enhanced system, developed in-house, aims to prevent accidents, minimise human error, and ensure seamless train operations. According to officials, all locomotives equipped with earlier versions of Kavach will be upgraded to Kavach 4.0. The North-East Frontier Railway has identified approximately 1,966 route kilometres, stretching from Malda Town to Dibrugarh, for implementation. This initiative is part of a br..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000