PNB Housing Finance Ltd.

NSE: PNBHOUSING | BSE: 540173 | ISIN: INE572E01012 |Industry: Housing Finance
|Turnaround Potential
352.40 5.70 (1.64%)
NSE Oct 27, 2020 15:31 PM
Volume: 200.9K

PNB Housing Finance Ltd.    
15 Jun 2020
Motilal Oswal
15 June 2020 PNBHOUSI reported INR2.4b net loss (v/s est. of INR2.4b PAT) in 4QFY20, driven by higher-than-expected provisions. The company reported provisions of INR7.5b (v/s est. of INR1.4b), including COVID-19-related provisions of INR4.7b. Given the high leverage, we expect the company to continue to run down its balance sheet. We increase our FY21 credit cost estimates by 70bp. Maintain Neutral, with TP of INR190. Given the lockdown in the last week of the quarter, disbursements were muted at INR28b. Interestingly, the retail home loan book declined 5% QoQ. On the other hand, the retail GNPL ratio doubled YoY to 1.
PNB Housing Finance Ltd. has gained 63.41% in the last 3 Months
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