The Board of Directors of PNB Housing Finance Limited today approved the Consolidated Audited Financial Results for the quarter and financial year ended 31 st March, 2019. As per the notifications issued by the Ministry of Corporate Affairs and National Housing Bank, the Company has adopted Indian Accounting Standards i.e. IndAS from 1st April 2018. The corresponding financial numbers are also based on IndAS. Financial performance (Q4 FY18-19 vs Q4 FY17-18) Net Interest Income registered a growth of 13% to INR 609.7 crore from INR 540.8 crore. Profit after Tax grew by 51% to INR 379.7 crore from INR 251.6 crore. The Spread on loans for Q4 FY18-19 stood at 2.59% compared to 2.98% for Q4 FY17-18. Net Interest Margin for Q4 FY18-19 stood at 3.18% compared to 3.59% for Q4 FY17-18. Gross Margin, net of acquisition cost but including fees, for Q4 FY18-19 stood at 3.51% compared to 3.78% for Q4 FY17-18. Financial performance (FY18-19 vs FY17-18) Net Interest Income at INR 2,063.5 crore vs INR 1,659.9 crore registering a growth of 24%. Profit after Tax grew by 42% to INR 1,191.5 crore from INR 841.2 crore. The Spread on loans for FY18-19 stood at 2.35% compared to 2.54% for FY17-18. Net Interest Margin for FY18-19 stood at 2.93% compared to 3.19% for FY17-18. Gross Margin, net of acquisition cost but including fees, for FY18-19 stood at 3.34% compared to 3.50% for FY17-18. The net worth as on 31 st March, 2019 stood at INR 7,543.9 crore. The cumulative ECL provision as on 31 st March, 2019 is INR 437.6 crore. In addition to the ECL provision, the Company has INR 156.5 crore as a steady state provision for unforeseeable macroeconomic factors. Return on Asset is at 1.61% on an average gearing of 9.3x against 1.56% on an average gearing of 7.6x during FY17-18 resulting in an expansion of Return on Equity to 17.44% for FY18-19 vis a vis 14.20% for FY17-18. Dividend The Board of Directors recommended final dividend of INR 9.0 per equity share of INR 10/- for FY18-19. Dividend Payout ratio for the year inclusive of dividend distribution tax is 16.8%. Business Operations Disbursements grew by 9% to INR 36,079.4 crore during FY18-19 from INR 33,194.7 crore over FY17-18. Asset under Management (AUM) is at INR 84,721.9 crore as on 31 st March, 2019 moved from INR 62,252.0 crore as on 31 st March, 2018 registering a growth of 36% during the period with share of Housing Loans being 71% and Non Housing being 29% of the AUM. Loan Asset grew by 30% YoY to INR 74,023.0 crore as on 31 st March, 2019 from INR 57,014 crore as on 31st March 2018. Regd. Office: 9th Floor, Antriksh Bhavan, 22 Kasturba Gandhi Marg, New Delhi – 110 001 Phone: 011 – 23736857, E-mail: email@example.com, Website: www.pnbhfl.com CIN: L65922DL1988PLC033856 Borrowings Total borrowings are at INR 72,362.0 crore as on 31 st March, 2019 expanded from INR 54,268.3 crore as on 31 st March, 2018 registering a growth of 33% during the period. The Deposit portfolio grew by 24% to INR 14,315.0 crore as on 31 st March, 2019 from INR 11,586.2 crore as on 31 st March, 2018 with expanding retail penetration. Total outstanding, loans assigned, amounted to INR 10,698.9 crore as on 31 st March, 2019. Distribution and Service Network As on 31 st March, 2019 the Company has 102 branches with presence in 62 unique cities and 23 Hubs. This includes 18 branches, which were made operational during the year. The Company also services the customers through 29 outreach locations. Asset Quality Gross Non-Performing Assets (NPA) stood at 0.48% of the Loan Assets as on 31 st March, 2019 against 0.33% as on 31 st March, 2018. At an AUM level the Gross NPA is at 0.44%. Net NPA stood at 0.38% of the Loan Assets as on 31 st March, 2019 against 0.23% as on 31 st March, 2018. Capital to Risk Asset Ratio (CRAR) The Company’s CRAR based on IGAAP stood at 13.98% as on 31 st March, 2019, of which Tier I capital was 11% and Tier II capital was 2.98%. As per the regulatory norms, the minimum requirement for the CRAR and Tier I capital is 12% and 6% respectively. Credit Rating PNB Housing Finance Fixed Deposit programme has been rated “FAAA” by CRISIL and “AAA” by CARE. The rating of “FAAA” and “AAA” indicates ‘High Safety” with regards to the repayment of interest and principal. The Company’s Commercial Paper (CP) is rated at “A1(+)” by CARE & CRISIL and Non-Convertible Debenture (NCD) are rated at “AAA” by CARE, “AA+” by India Ratings, “AA+” by CRISIL and “AA+” by ICRA. Further the bank loans long term rating is rated at “AAA” by CARE and AA+ by CRISIL. Commenting on the performance Mr. Sanjaya Gupta, Managing Director said: “FY18-19 was a challenging year with tight liquidity, which impacted the overall Indian financial and real estate sectors. Amid such environment, we continued our focus on maintaining adequate liquidity, balanced ALM, efficient operations and robust asset quality. This resulted in double digit growth across all the businesses and financial vectors. Our PAT for the year crossed a landmark of INR 1,100 crore for the financial year 18-19. We would continue to maintain a balanced approach to business, with focus on asset quality, and improving profitability.” Regd. Office: 9th Floor, Antriksh Bhavan, 22 Kasturba Gandhi Marg, New Delhi – 110 001 Phone: 011 – 23736857, E-mail: firstname.lastname@example.org, Website: www.pnbhfl.com CIN: L65922DL1988PLC033856 About PNB Housing Finance Limited PNB Housing Finance Limited (NSE: PNBHOUSING, BSE: 540173) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company got listed on the Indian stock exchanges on 7th November, 2016. The Company’s asset base comprises of retail loans and corporate loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. In addition, it also provides loan against properties and loans for purchase & construction of non-residential premises. Corporate loans are mainly to developers for construction of residential / commercial properties, corporate term loans and lease rental discounting. PNB Housing Finance is a deposit taking Housing Finance Company.