PNB Housing Finance aims for 17-18% loan growth with focus on affordable segment
Girish Kousgi, Managing Director and CEO of PNB Housing Finance believes a brick-and-mortar presence plays a crucial role in addressing the unique needs of the affordable housing segment.
PNB Housing Finance is targeting loan growth of 17-18% for financial year 2024 with strong focus on the affordable housing segment.
Girish Kousgi, Managing Director and CEO of the financing company said demand for affordable housing is "a notch better than prime."
Kousgi believes a brick-and-mortar presence plays a crucial role in addressing the unique needs of the affordable housing segment. PNB has opened 100 branches over the past year keeping this factor in mind and it plans to add 60 more branches by March 2024.
On December 6, PNB Housing Finance announced that it has achieved a historic loan book milestone of ₹1,000 crore under its Roshni Home Loans initiative for affordable housing. The milestone was achieved in under a year since the launch of the initiative.
Through this initiative, the housing finance arm of state-owned Punjab National Bank indicated its focus on financial inclusion by offering small ticket-size loans in the range of ₹5-35 lakh for either purchasing homes, plots, loans related to construction and renovation, the company said in a filing to the stock exchanges.
PNB Housing Finance has a market capitalisation of approximately ₹20,240 crore. Shares of the housing finance company have gained over 4.25% in last month versus Nifty 50 gains of over 7%.
For the entire interview, watch the accompanying video
(Edited by : Shweta Mungre)
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