PNB Housing cautious on corporate finance disbursement, says MD Gupta

Image result for PNB Housing cautious on corporate finance disbursement, says MD GuptaPNB Housing Finance on Thursday reported a 51 percent jump in its consolidated net profit to Rs 379.77 crore for the fourth quarter ended March 2019. Sanjaya Gupta, MD of PNB Housing Finance, spoke to CNBC-TV18 about the company’s financial performance.

“The company keeps on monitoring its corporate finance book on a regular basis and end of January 2019 out of the 10 accounts they found five accounts which could slip under NPA. So, the company created provisions and put these five accounts under special watch. The exposure to these accounts is to the tune of Rs 750 crore,” said Gupta.

With regards to the cost of funds, he said, “It would be in the vicinity of 8.25-8.35 basis points and spreads without securitization would be maintained around 200-210 basis points.”

“The disbursement growth quarter on quarter came down because the company became cautious on corporate finance disbursements, while retail disbursements grew by 14-15 percent quarter on quarter”, Gupta said.

[“source=cnbctv18”]