Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Jul 31, 2019 09:10 PM IST | Source: CNBC-TV18

PNB Housing's annual loan growth to be better than industry average, says MD Sanjaya Gupta

Elaborating on the June-quarter results, he said, “Where we de-grew was the corporate finance. We are honouring our past commitments on corporate finance and we are not doing the new loans."

CNBC TV18 @moneycontrolcom

PNB Housing Finance is confident of its annual loan growth beating the industry average, said Sanjaya Gupta, managing director of the company, after the firm reported a weak set of numbers for the June quarter.

“The macroeconomic environment, the sentiment are down on consumer consumption and hence it has also impacted us but the good thing is that our retail disbursements have shown a positive trend even in Q1. It will be forward-looking if I give you my annual expectations. I think it will be healthier than industry averages. We are pretty confident on that," said Gupta in an interview with CNBC-TV18.

Elaborating on the June-quarter results, he said, “Where we de-grew was the corporate finance. We are honouring our past commitments on corporate finance and we are not doing the new loans."

Close

In terms of non-performing assets (NPAs), he added, “As of March 31, we had five stressed corporate accounts.” One of these five accounts of Rs 150 crore has become NPA.

Speaking about capital raising plans, he said, “Yesterday our board has approved up to Rs 2,000 crore for the financial year 2020 and this stakeholder’s committee is 100 percent empowered now to appoint merchant bankers and to take the process forward. We are very confident that before Q3 we will be having that tier-I capital.”

Source: CNBC-TV 18

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jul 31, 2019 08:20 pm
Sections
Follow us on
Available On