PNB Housing Finance to focus on affordable home loans & aims 17% loan growth

A prominent non-government company providing affordable home loans in attractive interest rates, PNB Housing Finance announced that the company is aiming to develop its range of products & services by 17 percent throughout the financial year next to its growth in branch network & concentrate on affordable home loans furthermore. 

Regarding the announcement, Girish Kousgi, Managing Director, PNB Housing Finance said “The housing finance company has enough capital to sustain this kind of high growth”.

Speaking to the plan for next two to three years, Girish Kousgi stated, “we dont need capital as we just raised capital through the rights issue last year”. 

Notably, in the previous year, the mortgage company has elevated about Rs. 2,500 crore from rights issue. 

While speaking about the business goals & strategies to attain the upmost growth of housing loans, Kousgi stated PNB Housing Finance has closed the financial year with the loan bookings of Rs. 63, 000 crore & fosters to  develop it by 17 percent with attention on affordable home loan segment. 

In subject to this, the total number of arms has enlarged to 300. He stated 50 more branches are set to be added in the present fiscal year that would be majorly concentrated on the market of affordable home loan. Meanwhile looking into net interest margin, Kousgi said that it would nearly 3.5 percent during FY25.