PNB Housing Finance Ltd.

NSE: PNBHOUSING | BSE: 540173 | ISIN: INE572E01012 |Industry: Housing Finance
|Turnaround Potential
360.45 3.80 (1.07%)
NSE Oct 23, 2020 15:31 PM
Volume: 132.6K

PNB Housing Finance Ltd.    
10 May 2019
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported 4QFY19 results with the key pointers being: (1) Spread expanded 3 bps QoQ to 2.59% with cost of borrowings easing more than yield (2) Disbursements declined 8% QoQ to Rs 85.62bn with a view to maintaining liquidity (3) Management flagged a stressed pool of Rs 9.08bn but also cited low LGD experience. Asset quality outcomes remain best-in-class with a Stage 3 (GNPA) ratio of 0.48% (4) Opex to ATA declined 3 bps QoQ to 70 bps despite adverse optical impact of IndAS (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key P&L; items, PNBHF posted 13% YoY NII growth at Rs6,097mn, PPOP growth of 20% YoY at Rs5,552mn and PAT growth of 51% YoY at Rs3,798mn. We have revised our estimates...
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
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