PNB Housing Finance is confident of its annual loan growth beating the industry average, said Sanjaya Gupta, managing director of the company, after the firm reported a weak set of numbers for the June quarter.
âThe macroeconomic environment, the sentiment are down on consumer consumption and hence it has also impacted us but the good thing is that our retail disbursements have shown a positive trend even in Q1. It will be forward-looking if I give you my annual expectations. I think it will be healthier than industry averages. We are pretty confident on that," said Gupta in an interview with CNBC-TV18.
Elaborating on the June-quarter results, he said, âWhere we de-grew was the corporate finance. We are honouring our past commitments on corporate finance and we are not doing the new loans."
In terms of non-performing assets (NPAs), he added, âAs of March 31, we had five stressed corporate accounts.â One of these five accounts of Rs 150 crore has become NPA.
Speaking about capital raising plans, he said, âYesterday our board has approved up to Rs 2,000 crore for the financial year 2020 and this stakeholderâs committee is 100 percent empowered now to appoint merchant bankers and to take the process forward. We are very confident that before Q3 we will be having that tier-I capital.â