Net increase of 33% in housing finance to GNP


It had recorded a net profit of 190.05 crores of rupees during the corresponding period from 2017 to 2017, the company said in a regulatory document.

PNB Housing Finance announced Monday a 33% increase in its consolidated net income for an amount of Rs 252.99 crore in the second quarter ended September 2018.

It had recorded a net profit of 190.05 crores of rupees during the corresponding period from 2017 to 2017, the company said in a regulatory document.

The company occupies a comfortable position regarding the asset-liability imbalance position (ALM), said PNB Housing in a separate statement. "In the 0-1 year bucket, we are largely matched on ALM. Our short-term borrowings increased from 17.5% in March 2018 to 11.7% in September 2018. On a bucket of 1 to 3 years, we borrow external commercial borrowing (ECB) and more sticky government deposits, and are comfortable with our mix.

"In addition, our borrowings in the last month represent our strength in the debt market, as we raised more than Rs 6,000 crore through commercial paper and $ 200 million through the ECB through automatic way, "he said. The total income of the non-bank finance company (NBFC) was R1808.26 crore during the quarter, an increase of 42 percent from the previous year's R1,474.44 crore.

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