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PNB Housing Finance Achieves 76% Growth in Net Profits – Dec.
’07
New Delhi, February 07, 2008
PNB Housing Finance Ltd., a wholly owned subsidiary of
Punjab National Bank has achieved 76% growth in net Profits
after tax during Nine months ended 31 December 2007.
Announcing the results, V K Khanna, the MD of the company
informed that “during the current year, the profit before tax
was Rs. 41.80 crores (Rs. 23.69 crores) and Profit after tax
was Rs. 28.87 crores (Rs. 16.40 crores).
The company has achieved 51% growth in total income at Rs.
159.97 crores (Rs.106.14 crores). The net worth of the company
as on 31.12.07 was Rs.156.60 crores (Rs. 126.02 crores) and
the annualised earning per share was Rs. 12.83 (Rs.7.29). The
Book value per share as on 31st December 07 was Rs. 52.20.”
The Company has already paid an interim dividend of 10% for
the year, which absorbed a sum of Rs. 3.51 crores including
dividend tax. Khanna also informed, “The Company is looking at
higher business volume in the coming months. The Company is
entering into tie-ups for promoting individual loans in the
projects of various Builders across the country. The business
potential is sufficient to ensure good growth in the current
year. During the current financial year, the Company has also
raised bonds aggregating Rs.450 crores. The amount raised is
used to augment long-term resources of the Company.”
In view of the downward interest rate scenario, the company
has decided to reduce interest rates on home loans for new
borrowers by 0.50% with immediate effect.
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