PNB Housing Finance Limited, a constituent of the BSE 500 stock, has reported its Q4 results on April 20. The housing company reported a 19 per cent rise in fourth quarter net profit at Rs 656 crore as compared with Rs 500 crore in the year-ago period.
The brokerage firm, Motilal Oswal Securities Limited, maintains a buy call on PNB Housing with a target price of Rs 1275 vs 1260. Here’s why:
PNB Housing Finance Q4 results
PNB Housing Finance Limited’s net interest margin for the quarter, however, dipped a bit to 3.69% against 3.75% in the year-ago period, while the gross non-performing assets ratio improved to 0.93% from 1.08% a year back.
The mortgage lender’s assets under management expanded 13% year-on-year to Rs 90,921 crore. Its retail loan asset grew 16% to Rs 86,946 crore while the company resumed corporate lending after a gap of around four years.
The company said that the affordable and emerging Markets segment grew by 28% year-on-year and contributed 40% to the retail loan assets.
Its retail disbursements clocked an all-time high of Rs 9,020 crore in the quarter under review, while it disbursed Rs 335 crore to builders, marking a re-entry into the corporate lending segment.
The board of the company proposed a final dividend of Rs 8 per share, having a face value of Rs 10 a piece, for the fiscal year ending March 31.
PNB Housing Finance share price today
At the time of writing this report (9:03 AM), the shares of PNB Housing Finance Ltd. were trading 1.20 per cent higher at Rs 1009.95, compared to the previous closing price of Rs 998.00.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
