PNB Housing Finance Ltd (PNBHFL) has reported a net profit of ₹127 crore for the quarter ended March 31, 2021. The housing finance lender had recorded a net loss of ₹242 crore in the same quarter last year. Total income for the quarter under review recorded a decline of 6 per cent at ₹ 1,834 crore (₹1,952 crore).

For the entire fiscal 2020–21, the company reported a net profit of ₹930 crore, up 44 per cent over the net profit of ₹646 crore recorded in the previous fiscal. Total revenue in 2020-21 stood at ₹ 7624 crore, a decline of 10 percent over ₹ 8,490 crore in previous fiscal.

Commenting on the financial performance, Hardayal Prasad, Managing Director and CEO, PNBHFL, said in a statement: “Led by retail lending, the company registered a healthy increase in disbursements on sequential basis quarter-on-quarter in the current fiscal. We also registered a 50 per cent jump in retail disbursement in Q4 FY21 compared to Q4 FY20. With collections being the primary focus we have witnessed an improving trend in collection efficiency which is now 98.3 per cent in Q4 FY21.

The company had earlier laid down its strategy and milestones required to achieve the same. As a retail-focussed housing finance company, we will leverage our expertise in self-employed and mass housing especially Unnati where the company has developed niche in terms of distribution network, underwriting capability and services. The company is excited about the co-lending opportunity for which it has tied up with a bank. With accelerated reduction in the corporate book by 19 per cent and healthy internal accruals the gearing is now at 6.7 times. We will further ensure to build a digital housing ecosystem that will automate processes and drive cost efficiencies.”

PNBHFL had an assets under management of ₹74,469 crore as on March 31, 2021. Retail loans contribute 84 per cent and corporate loans 16 per cent of the AUM. Net interest margin for the fiscal 2020-21 stood at 3.2 per cent (3 per cent).