PNB Housing Finance publications Rs 351-cr loss in Q4 on increased write-offs
Mortgage company PNB Housing Finance (PNB HFC) intends to reduce business loan guide by Rs 1,500 crore by March 2021 and it is planning for an additional round of rationalisation.
Hardayal Prasad, handling director (MD) and ceo (CEO) stated the organization has generated a stronger stability sheet and can continue steadily to rebalance its profile to construct a robust retail franchise.
There is a sell down and accelerated pre-payment of Rs 477 crore into the business guide.
“HFC continues to be steadfast in its technique to reduce share of corporate guide by end of this present financial 12 months,” Dayal stated in an analysts’ call.
The business is closely monitoring its book that is corporate and reports have been in different phases of quality. Several of those resolutions are required to fructify through the present economic 12 months.
Assets under administration (AUM) endured at Rs 81,221 crore as on September 30, 2020, when compared with Rs 83,495 crore as on June 30, and Rs 89,471 crore as on September 30, 2019. Continue reading →