Consolidated Audited Financial Results for Q4 & FY21 Ended 31st March 2021

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Consolidated Audited Financial Results

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 2021. The financial numbers are based on IndAS.


Financial performance (Q4 FY21 vs Q4 FY20)


 Profit after Tax stood at INR 127 crore vs net loss of INR 242 crore.
 Spread stood at 2.8% as compared to 2.2%.
 Net Interest Margin stood at 3.3% as compared to 2.6%.
 Gross Margin, net of acquisition cost, stood at 3.7% compared to 2.9%.
 Pre provision Operating Profit increased by 26% to INR 539 crore vs INR 428 crore.
 Operating Expenditure remained at similar levels of INR 145 crore vs INR 144 crore.
 Total Revenue of INR 1,834 crore vs INR 1,952 crore registering a decline of 6%.
Financial performance (FY21 vs FY20)
 Profit after Tax is at INR 930 crore vs INR 646 crore registering an increase of 44%.
 The Spread on loans stood at 2.8% compared to 2.5%. Excluding the net positive impact of
securitization, Spread for FY21 is 2.5% vs 2.2% for FY20.
 Net Interest Margin stood at 3.2% compared to 3.0%
 Gross Margin, net of acquisition cost, is at 3.3% compared to 3.2% YoY.
 Pre provision Operating Profit remained at similar levels of INR 2,069 crore from INR 2,062 crore.
 Operating Expenditure at INR 455 crore vs INR 552 crore registering a decline of 18%.
 Total Revenue at INR 7,624 crore vs INR 8,490 crore registering a decline of 10%.
 The ECL provision as on 31st March 2021 is INR 2,544 crore resulting in total provision to assets
ratio at 4.1%. The total and Stage 3 provision coverage ratio is at 92% and 45% respectively.
 Return on Asset is at 1.2% as compared to 0.8%.
 Gearing as on 31st March 2021 is 6.7x compared to 8.5x as on 31 st March 2020.

 Return on Equity at 10.9% for FY21 vis a vis 8.1% for FY20.


Business Operations
 The disbursements during Q4 FY21 stood at INR 4,103 crore compared to INR 2,826 crore in Q4 FY20 registering an increase of 45%. The disbursements for FY21 stood at INR 10,445 crore. Compared to INR 18,626 crore for FY20. Retail disbursements were 96% of the total disbursements in FY21 as compared to 92% in FY20.


 Asset under Management (AUM) is at INR 74,469 crore as on 31 st March 2021. Retail Loans contribute 84% and Corporate loans 16% of the AUM. The Corporate book in absolute terms reduced by 19% in FY21 on account of sell down/accelerated payment/ scheduled repayment.


 Loan Assets stood at INR 62,255 crore as on 31 st March 2021 from INR 67,571 crore as on 31 st March 2020.

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