Q1 2025 PNB Housing Finance Ltd Earnings Call Transcript
Key Points
- Retail disbursement grew by 19% year-over-year in Q1 FY '25, with a significant focus on the emerging and affordable segments.
- Gross NPA reduced by 241 basis points year-over-year to 1.35%, with a target to achieve 1% by year-end.
- Net interest margin maintained at 3.65%, with a return on assets improving to 2.38% from 2.27% in Q1 FY '24.
- PAT stood at INR433 crores, registering a growth of 25% year-over-year.
- The company has a strong pan-India presence with 303 branches across 20 states, and plans to add 40 to 50 more branches.
- Incremental cost of borrowing remains a concern despite a reduction to 7.75% from 7.93% in Q4 FY '24.
- Operating expenses grew by 27% year-over-year to INR190 crores, largely due to branch expansion and annual performance appraisals.
- NIM pressure expected in the short term due to the degrowth of the corporate book and repricing issues.
- The company faces challenges in maintaining yield due to book closure and balance transfer (BT) outflows.
- Asset quality improvements are still a work in progress, with ongoing efforts required to manage recoveries from written-off accounts.
Ladies and gentlemen, good day, and welcome to the Q1 FY 2024-'25 earnings conference call of PNB Housing Finance Limited.
(Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Ms. Deepika Gupta Padhi, Head of Investor Relations and Treasury. Thank you, and over to you, ma'am.
Thank you, Steve. Good evening, and welcome, everyone. We are here to discuss PNB Housing Finance Q1 FY '25 performance, which you must have seen in the presentation and press release shared with the Indian stock exchanges and is also available on our website.
With me, we have the entire management team across verticals led by Mr. Girish Kousgi, our MD and CEO. We'll begin this call with the performance update by the team followed by an interactive Q&A session. Please note, this call may contain forward-looking statements, which exemplify our judgment and future expectations concerning the development of our
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