Q4 2024 PNB Housing Finance Ltd Earnings Call Transcript
Key Points
- Retail loan book grew by 14% YoY, the highest growth in the last five years.
- Affordable housing segment saw significant growth, with the book increasing from INR 138 crore to INR 1,790 crore YoY.
- Gross NPA reduced by 57%, from 3.83% in FY23 to 1.5% in FY24.
- PAT for FY24 grew by 44% YoY, with a 57% increase in Q4 alone.
- Company received a rating upgrade from AA to AA+ from three rating agencies.
- Incremental cost of borrowing increased to 7.93% in Q4 FY24.
- Yield on loans dropped from 10.19% in Q3 FY24 to 10.08% in Q4 FY24.
- Operating expenses grew by 23% YoY in Q4 FY24 due to investments in new verticals and IT transformation.
- Corporate loan book reduced by 46% YoY, impacting overall yields.
- Guidance indicates a potential compression in margins to around 3.5% for FY25.
Ladies and gentlemen, good day, and welcome to the Q4 and FY 2024 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, Investor Relations and Treasury. Thank you, and over to you.
Thank you, [Hejeshree] good evening, and welcome, everyone. We're here to discuss PNB Housing Finance, Q4 and FY23, FY24 earnings. You must have seen our business and financial numbers in the presentation and the press release shared with the Indian stock exchanges and also available on our website. With me, we have our entire management team across multiples led by Girish Kousgi, our MD and CEO. We'll begin with all the performance update by the Managing Director and CEO, 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 business.
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