PNB Housing Finance targets 60 new Roshni branches by FY24 closure

PNB Housing Finance, a housing finance company, has set the target of adding 60 more Roshni branches by the end of this financial year, thereby increasing the total number of affordable branches to 160. The company recently inaugurated its 100th branch, which is also the first all-women Roshni branch, in Tambaram, Tamil Nadu. Currently, there are 14 Roshni branches in Tamil Nadu, and the company aims to elevate this number to 22 by the conclusion of the current financial year. Girish Kousgi, the Managing Director and CEO of the company, stated that the establishment of the first-ever all-women branch is intended to create an environment conducive to the flourishing of women, allowing them to enhance their skills and contribute to the organization's success. He expressed optimism about the growth prospects in the affordable segment and anticipated the addition of 60 more Roshni branches. As of September 30, 2023, the company reported disbursements of approximately Rs 7.5 billion under Roshni, reflecting a quarter-on-quarter growth of around 65%. Roshni loans, ranging from Rs 5-35 lakh, are tailored for purposes such as home buying, home expansion and renovation, plot purchases, as well as loans against property. In addition to the focus on the affordable segment, the company has outlined plans to open an additional 27 branches for its 'prime' retail loans offering. This move is expected to bring the total number of 'prime' branches to 138 by the conclusion of the current financial year.