PNB Housing Finance Q2 loan disbursements fall 35%; eyes Rs 10,000 crore via NCDs

PNB Housing Finance’s loan disbursements for the second quarter of the current fiscal fell by nearly 35% sequentially to Rs 4,970 crore, at a time when the credit growth within the Indian banking system dropped to 8.8% for the fortnight ended September 27 on the back of a slowing credit demand situation.

Shares of the lender fell 13.03% to close at Rs 380.10 on Wednesday. The non-banking finance company (NBFC) in an exchange notification released data on disbursements, NPAs and fund-raising plans.

The lender’s AUMs came in at RS 89,471 crore, an increase of 21.8% year-on-year. The asset quality improved sequentially, with gross NPAs falling 12 bps to 0.73%.

In a separate notification, the company said it plans to raise `10,000 crore through secured and unsecured NCDs, and its board is to meet on October 24 to take into account its Q2FY20 results and the fund-raising programme.