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PNB Housing Finance Ltd (PNBHFL) has reported a 66 percent increase in net profit for the year ended March 2016 at Rs 326 crore (Rs 196 crore). Total income for the year grew 52 per cent to Rs 2,697 crore.
Commenting on the financial performance, Sanjaya Gupta, Managing Director, PNBHFL said that the results are encouraging and at “par with our expectations”.
“Financial year 2015-16 has been a year of high significance as we attained the status of one of the leading housing finance companies surpassing assets under management of Rs 27,000 crore”, Gupta said in a statement here.
Net interest margin for the year ended March 31, 2016 stood at 3.08% as against 3.21% in the previous year.
PNBHFL is a subsidiary of Punjab National Bank. Quality Holding Investments (owned by Carlyle Group) is the other significant shareholder in PNBHFL.
Srivats.kr@thehindu.co.in
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