PNB Housing Finance Sees 10% Surge in Stock Price After Block Deal of 1.3 Crore Shares
PNB Housing Finance's stock price jumped over 10% on Wednesday after a block deal of 1.3 crore shares was reported on the Bombay Stock Exchange. The company's Q1 FY25 results also showed a 3.6% YoY increase in net interest income.
Pnb Housing FinanceStock PriceBlock DealQ1 Fy25 ResultsNet Interest IncomeReal Estate NewsAug 21, 2024
The block deal was reportedly executed at a floor price of Rs 775 per scrip, which would have represented a 4.4% discount to Tuesday's closing price of roughly Rs 810. As of June 2024, General Atlantic Singapore Fund FII Pte held a 5.13% stake in the company, while Asia Opportunities V (Mauritius) held a 5.19% stake, per Bombay Stock Exchange shareholding data.
In its Q1 FY25 results, PNB Housing Finance reported a 3.6% year-over-year (YoY) increase in net interest income (NII) to Rs 651 crore. The company's operating profit also increased by 6.9% YoY to Rs 542.20 crore. Net profit for the quarter jumped 24.6% YoY to Rs 432.80 crore.
As of June 30, 2024, the company's gross non-performing assets (NPA) decreased by 241 basis points (bps) to 1.35% from 3.76% during the same period the previous year. Net NPA also decreased to 0.92% annually.
The company's net interest margin was 3.65% in Q1 FY25, down from 3.65% in Q4 FY24 and 3.86% in Q1 FY24. The cost of borrowing decreased to 7.92% from 7.98% in Q4 FY24 and 7.97% in Q1 FY24.
Disbursements increased to Rs 4,398 crore, a 19% YoY growth. As of June 30, 2024, retail loan assets had grown by 14.4% YoY to Rs 65,157 crore. Assets under management (AUM) increased by 8% YoY and 2% QoQ to Rs 72,540 crore.
PNB Housing Finance is a leading housing finance company in India, providing home loans and other financial services to individuals and corporations. The company is promoted by Punjab National Bank and is listed on the Bombay Stock Exchange and National Stock Exchange.
Information
PNB Housing Finance was established in 1988 and is headquartered in New Delhi, India. The company has a strong presence in the Indian housing finance market and has been consistently increasing its market share.
PNB Housing Finance is a subsidiary of Punjab National Bank, one of the largest public sector banks in India. The company is committed to providing affordable housing finance solutions to its customers and has a strong track record of delivering value to its stakeholders.
Frequently Asked Questions
What was the stock price of PNB Housing Finance on Wednesday?
The stock price of PNB Housing Finance touched a day-high level of Rs 894 per share and was trading around Rs 878.35 per share.
What was the size of the block deal reported on the Bombay Stock Exchange?
The block deal was reportedly for 1.3 crore shares.
What was the net interest income of PNB Housing Finance in Q1 FY25?
The net interest income of PNB Housing Finance was Rs 651 crore in Q1 FY25.
What was the net profit of PNB Housing Finance in Q1 FY25?
The net profit of PNB Housing Finance was Rs 432.80 crore in Q1 FY25.
What was the gross NPA of PNB Housing Finance as of June 30, 2024?
The gross NPA of PNB Housing Finance was 1.35% as of June 30, 2024.
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