Corporate Results

PNB Housing Finance has continued to post strong 43% growth in the net profit to Rs 483.27 crore for the quarter ended December 2024 (Q3FY2025) over Q3FY2024. The loan book of the company surged 15%, while overall AUM jumped 12% end December 2024 over December 2023. The company has posted strong 30% growth in the disbursement in Q3FY2025. Meanwhile, the margins of the company were healthy, while asset quality improved in Q3FY2025.

The net interest margin was healthy at 3.70% in the quarter ended December 2024, compared with 3.68% in the preceding quarter and 3.49% in the corresponding quarter last year. Net interest income for the quarter ended December 2024 increased 16% to Rs 690.51 crore as against Rs 592.89 crore in the same period of the previous year.

Income from operations increased 10% to Rs 1848.43 crore in the quarter ended December 2024. Interest expense moved up 7% to Rs 1157.92 crore, while other expenses (including staff cost of Rs 98.29 crore and other expenses of Rs 93.00 crore) increased 22% to Rs 191.29 crore. Ensuing Gross profit advanced 16% to Rs 593.90 crore.

The depreciation rose to Rs 14.38 crore in Q3FY2025 against Rs 13.05 crore in Q3FY2024. The company has reversed provision and write offs of Rs 36.13 crore in Q3FY2025 as against provisions charge of Rs 59.10 crore in same quarter last year. PBT increased 40% to Rs 615.65 crore.

Effective tax rate eased to 21.50% bps on yoy basis from 23.13%. The profit after tax of the company improved 43% to Rs 483.27 crore in the quarter ended December 2024.

Loan book and disbursements

The AUM of the company increased 12% to Rs 76840 crore end December 2024 over December 2023. The loan portfolio of the company increased 15% to Rs 71917 crore, The loans sold outstanding declined 21% to Rs 4923 crore end December 2024 over December 2023. The disbursements increased 30% to Rs 5380 crore in the quarter ended December 2024.

The deposits with the company rose 1% to Rs 17275 crore at end December 2024.

Asset quality

Gross NPA ratio declined to 1.19% at end December 2024 from 1.24% a quarter ago and 1.73% a year ago. Meanwhile, Net NPA ratio also declined to 0.80% at end December 2024 from 0.84% a quarter ago.

In absolute terms, GNPA stood at Rs 857 crore and NNPA at Rs 572 crore at end December 2024.

Book value of the company stood at Rs 629.2 per share, while adjusted book value was at Rs 607.2 per share at end December 2024.

Financial Performance 9MFY2025:

For the nine months ended December 2024 (9MFY2025), PNB Housing Finance reported 6% rise in Income from operations at Rs 5367.81 crore. Interest expense moved up 6% to Rs 3373.35 crore, while other expenses increased 23% to Rs 559.06 crore. Ensuing Gross profit increased 8% to Rs 1722.44 crore. Depreciation increased 12% to Rs 41.58 crore, while provision and write offs were written off amounting to Rs 93.70 crore. PBT improved 27% to Rs 1774.56 crore. Effective tax rate stood at 21.91% 9MFY2025, compared with 23.34% in 9MFY2024. The PAT of the company improved 30% to Rs 1385.76 crore in 9MFY2025.

PNB Housing Finance: Consolidated Results
Particulars	2412 (3)	2312 (3)	Var %	2412 (9)	2312 (9)	Var %	2403 (12)	2303 (12)	Var %
Income from operations	1848.43	1679.51	10	5367.81	5049.31	6	6742.21	6199.07	9
Other Income	94.68	76.49	24	287.04	193.81	48	314.88	330.59	-5
Total Income	1943.11	1756.00	11	5654.85	5243.12	8	7057.09	6529.66	8
Interest Expenses	1157.92	1086.62	7	3373.35	3191.42	6	4261.12	3898.52	9
Other expenses	191.29	156.93	22	559.06	456.12	23	619.76	527.51	17
Gross profit	593.90	512.45	16	1722.44	1595.58	8	2176.21	2103.63	3
Depreciation	14.38	13.05	10	41.58	37.01	12	51.19	51.44	0
Profit before tax and Provisions	579.52	499.40	16	1680.86	1558.57	8	2125.02	2052.19	4
Provisions and write off	-36.13	59.10	LP	-93.70	164.48	LP	171.12	691.28	-75
Profit before tax'	615.65	440.30	40	1774.56	1394.09	27	1953.90	1360.91	44
Provision for tax	132.38	101.86	30	388.80	325.33	20	445.89	314.91	42
PAT	483.27	338.44	43	1385.76	1068.76	30	1508.01	1046.00	44
EPS*(Rs)	74.4	52.1	'	71.1	54.8	'	58.1	40.3	'
Adj BV (Rs)	607.2	533.0	'	588.3	519.7	'	552.8	556.5	'
* Annualized on current equity of Rs 259.86 crore. Face Value: Rs 10, Figures in Rs Crore PL: Profit to Loss, LP: Loss to Profit
Source: Capitaline Corporate Database

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