PNB Housing Finance to open 25 new branches by March 2022
Real Estate

PNB Housing Finance to open 25 new branches by March 2022

PNB Housing Finance is concentrating on its high-yielding affordable housing business 'Unnati' in tier-II and -III cities and targets to operationalise 25 new branches by March 2022.

Besides, the housing financier aims to improve the Unnati business from 9% presently to approximately 12-14% going forward. PNB Housing launched 13 Unnati locations during the quarter ended December 2021.

The firm started a transformational 'Project IGNITE' last fiscal year, targeted at increasing the affordable housing business, improving its core capabilities by providing to the self-employed sector as well as developing differentiators to beat the competition in the salaried segment loan market, among others.

The firm is concentrating on high-yielding affordable housing business Unnati in tier-II and -III geographies, its Managing Director and CEO Hardayal Prasad told the media during an earnings call after Q3FY22 results.

Business Head (Retail) Pankaj Jain told the media that the monthly disbursement numbers are likely to cross Rs 100 crore immediately.Their overall percentage of Unnati share will surge from 9% to about 12-14%.

PNB Housing Finance recorded a net profit of Rs 188 crore in the quarter ended December 2021, dropping by 19% from the previous close. Disbursement, however, increased 19% to Rs 7,548 crore. Its Credit Head (Retail), Jatul Anand, told the media that for Unnati loans, they categorised the loans under the Rs 35 lakh segment for both salaried and self-employed.

Image Source

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

PNB Housing Finance is concentrating on its high-yielding affordable housing business 'Unnati' in tier-II and -III cities and targets to operationalise 25 new branches by March 2022. Besides, the housing financier aims to improve the Unnati business from 9% presently to approximately 12-14% going forward. PNB Housing launched 13 Unnati locations during the quarter ended December 2021. The firm started a transformational 'Project IGNITE' last fiscal year, targeted at increasing the affordable housing business, improving its core capabilities by providing to the self-employed sector as well as developing differentiators to beat the competition in the salaried segment loan market, among others. The firm is concentrating on high-yielding affordable housing business Unnati in tier-II and -III geographies, its Managing Director and CEO Hardayal Prasad told the media during an earnings call after Q3FY22 results. Business Head (Retail) Pankaj Jain told the media that the monthly disbursement numbers are likely to cross Rs 100 crore immediately.Their overall percentage of Unnati share will surge from 9% to about 12-14%. PNB Housing Finance recorded a net profit of Rs 188 crore in the quarter ended December 2021, dropping by 19% from the previous close. Disbursement, however, increased 19% to Rs 7,548 crore. Its Credit Head (Retail), Jatul Anand, told the media that for Unnati loans, they categorised the loans under the Rs 35 lakh segment for both salaried and self-employed. Image Source Also read: PNB Housing Finance Q2 results: Net profit down 25% at Rs 235.21 cr

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?