PNB Housing Finance Ltd will expand its presence in the southern markets.
Speaking to newspersons after the inauguration of its regional office here on Wednesday, Shaji Varghese, Business Head, PNB Housing, said his company will open branches in Vishakapatnam and Trichur before the end of the current financial year.
At present, PNB Housing operates nine branches in South India and has plans to open three more in this fiscal, whereas around 15 branches will be added in the next financial year.
"South is one of our key focus markets and we are confident that with these expansions, we will be able to tap a substantial customer base in the southern market in coming months,’’ the official added.
At the end of the second quarter of the current financial year, South India accounted for 24 per cent of the total loan book (Rs 5,310 crore) for PNB Housing.
The company had registered a compound annual growth rate of over 50 per cent in last several quarters and sees tapping new regions as one of the key strategies for growth.