Business Daily from THE HINDU group of publications
Friday, Aug 03, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Aug 03, 2007 ePaper |
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Money & Banking
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Financial Performance Corporate Results - Housing Finance PNB Housing net up 57%
New Delhi, Aug. 2 PNB Housing Finance Ltd, a wholly owned subsidiary of Punjab National Bank (PNB), has registered a 56.92 per cent increase in net profit for the first quarter ended June 30, 2007 at Rs 8.16 crore against Rs 5.2 crore recorded in the same period last year. Total income increased by 64.19 per cent to Rs 50.26 crore (Rs 30.61 crore). “Despite interest rates moving upward during 2007-08, the company is looking for 40 per cent growth in fresh business. During the first quarter, the company has raised Rs 100 crore through private placement of secured bonds issue at 9.25 per cent to augment long-term resources. The company will also look for new avenues for resource mobilisation”, Mr V.K. Khanna, Managing Director, PNB Housing Finance, said in a statement. — Our Bureau
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