Money & Banking

PNB Housing Fin approves capital raising of up to ₹2,000 cr in FY20

Our Bureau New Delhi | Updated on July 30, 2019 Published on July 30, 2019

The board of PNB Housing Finance (PNBHFL), on Tuesday, approved a plan to raise capital of up to ₹2,000 crore this fiscal to fund its future business growth.

It is understood that the quantum of capital raising and the route to be adopted would be decided by a committee of the board in the coming days.

Net profit

Meanwhile, PNBHFL has reported a 11 per cent increase in consolidated net profit for the first quarter ended June 30, 2019, at ₹284 crore (₹256 crore). The latest bottomline performance was, however, lower than the net profit of ₹380 crore recorded in the March quarter.

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Published on July 30, 2019
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