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

03 Nov 2021 CW Team

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

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

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..

Infrastructure Transport

29 Oct 2025

NFR Launches Key Railway Projects to Boost BTAD Connectivity

Northeast Frontier Railway (NFR) has unveiled major railway projects to enhance connectivity and economic growth in Assam’s Bodoland Territorial Area Districts (BTAD). These initiatives align with the national Viksit Bharat vision, focusing on regional development and job creation. A key project is the Wagon Periodic Overhauling (POH) Workshop in Basbari, Kokrajhar. The workshop, costing Rs 2.56 billion in phase one, will initially overhaul 75 wagons per month, scaling up to 250 in future phases. Its location near Basbari station and Rupsi Airport will boost logistics and local employment. ..

Infrastructure Transport

29 Oct 2025

Aurangabad Railway Station Renamed to Chhatrapati Sambhajinagar

The Aurangabad Railway Station in Maharashtra has officially been renamed Chhatrapati Sambhajinagar Railway Station, according to a release by Central Railway on October 25, 2025. The new station code will be ‘CPSN’. This decision follows the Maharashtra government’s gazette notification on October 15, issued by the BJP-led Mahayuti government. The change aligns with the city’s renaming in 2022 under the leadership of Chief Minister Eknath Shinde. The new name honors Chhatrapati Sambhaji Maharaj, the son of Maratha king Shivaji Maharaj. The renaming of the railway station comes three..