PNB Housing Finance MD & CEO Girish Kousgi, Independent Directors Gita Nayyar and R. Chandrasekaran inaugurated the corporate’s a hundredth Roshni department and first-ever all-women department in Chennai.
| Photo Credit: Special Arrangement
PNB Housing Finance Ltd. is planning to recommence lending to the corporate sector in the subsequent two-three quarters, mentioned MD & CEO Girish Kousgi.
“Right now, our focus in on retail lending, which constitutes 96% of our loan book. Corporate lending will be taken up to help retail growth,” he informed the media.
According to him, the housing finance agency had to wind down corporate lending due to improve in unhealthy money owed and began specializing in retail belongings. The inexpensive housing finance scheme named Roshni was began some eight months in the past.
“In the last six months, we did a business of ₹750 crore and it would touch ₹1,000 crore during this quarter and ₹2,000 crore by March 24. Going forward, the ratio between prime retail lending and affordable housing will be maintained at 60:40,” he mentioned.
On Monday, the PNB Housing inaugurated its first all-women department in Chennai. It additionally marked the PNB Housing’s a hundredth affordable-focused department.
“We are quite optimistic about the growth opportunities in the affordable segment and are looking forward to add 60 more Roshni branches as a strategic step in that direction. We now have 14 Roshni branches in Tamil Nadu and eight more will be added before March 24,” he mentioned.
PNB Housing can be planing to opening 27 branches for its ‘Prime’ retail loans providing, taking the whole variety of branches to 138 by the tip of FY24. The enlargement in retail phase together with inexpensive and prime is anticipated to take the company-wide areas depend to 298 by finish of FY24.
