'I keep saying that our growth rates will be above 1.5-1.7 times of the industry growth rate, we are maintaining that,' said PNB Housing Finance's Sanjaya Gupta
PNB Housing Finance reported a 32 percent increase in consolidated net profit for the third quarter ended December 31, Sanjaya Gupta, Managing Director of the company, spoke to CNBC-TV18 about the results and lender's growth prospects.
"We are not working in a vacuum. So the external environment does impact this company and because there is a overall slowdown, our growth rates from our previous years in quarters has come down a little bit, not significantly. I keep saying that our growth rates will be above 1.5-1.7 times of the industry growth rate, we are maintaining that. That is our guidance for the future also," Gupta said on January 25.
With regards to the net interest margins (NIMs) as well as spreads, Gupta said, "Securitisation is business as usual. So it is unfair to say that in the last quarter we did securitisation and hence our spreads and NIMs went up and as I keep saying, out of the total AUM, 10 percent will be securitised quarter-on-quarter (QoQ), it is business as usual and in Q4 also we will securitise and I am sure and I hope that our spreads and NIMs will be protected for the entire year."
"The marginal cost of borrowing today is at about 8.30-8.35 percent and the total cost of borrowing on the book is at about 7.85 percent or 7.9 percent," said Gupta.