Pnb Housing Finance Limited · NSE:PNBHOUSING
Pnb Housing Finance — Q2 FY2023 Earnings Presentation
27 slides from Pnb Housing Finance's earnings presentation, Oct 27, 2022
Slide 1: Exchange filing cover letter
October 27, 2022 BSE Limited, National Stock Exchange of India Limited, Listing Department, Listing Department Phiroze Jeejeebhoy Towers, “Exchange Plaza” Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 540173 Symbol: PNBHOUSING Dear Sir, Sub: Investor Pre
Slide 2: Investor Presentation Quarter Ended September 2022
Investor Presentation Quarter Ended September 2022 27-October-2022
Slide 3: Table of Content
Table of Content 1 Strategic Objective 2 Key Performance Highlights 3 Business Update – Retail & Corporate 4 Asset Quality 5 Digital Transformation 6 Financial Performance 7 Annexure
Slide 4: Strategic Objective
Strategic Objective 1 Accelerate growth by focussing on Retail Lending by leveraging our expertise in retail loan segment 2 Expand affordable Housing loan offering 3 Enhance underwriting and collection efficiencies and improve the credit quality of the portfolio 4 Drive growth through digitisation t
Slide 5: Key Performance Highlights
Key Performance Highlights Retail Segment Corporate Segment INR 6,992 Crore (H1 FY23) INR 123 Crore (H1 FY23) (54.4% YoY ) (-48.0% YoY ) Disbursement INR 3,528 Crore (Q2 FY23) INR 67 Crore (Q2 FY23) (24.5% YoY | 3.9% QoQ) (-48.0% YoY | 20.2% QoQ) Loan Book INR 52,124 Crore INR 5,708 Crore (4.1% YoY
Slide 6: Key Performance Highlights
Key Performance Highlights Disbursement AUM Loan Book Retail Loan Book INR 7,045 Crore (H1 FY23) INR 65,730 Crore INR 57,832 Crore 90% of Loan Book (49.3% YoY ) (-7.3% YoY | 0.2% of QoQ) (-4.2% YoY |1.0% QoQ ) (712 bps YoY | 91 bps QoQ) INR 3,594 Crore (Q2 FY23) (21.4% YoY | 4.2% QoQ) Deposits GNPA
Slide 7: Wide Distribution Network
Wide Distribution Network AUM – Geographical Breakup 29% 29% 24 39 29% 30% 43% 41% 113 113 112 30-Sep-21 30-Sep-22 North South West Disbursement Geographical Break-up Affordable specific locations Branches and Outreaches 25% 35% Network 29% 30% 22 hubs Over 21,000 partners 46% 36% 59% of the disburs
Slide 8: Improved Retail contribution in Loan Asset
Improved Retail contribution in Loan Asset (INR Crore) Loan Asset Mix Product-wise Break-up Segment-wise Breakup 60,342 57,832 10% 10% 10% 17% 17% 17% 4% 5% 22% 38% 20% 38% 90% 83% 64% 58% 52% 45% 30-Sep-21 30-Sep-22 30-Sep-21 30-Sep-22 30-Sep-21 30-Sep-22 Corporate Self Employed Salaried Corporate
Slide 9: Significant Reduction in Corporate Book
Significant Reduction in Corporate Book % of Total 17.0% 10.8% 9.9% Loan Asset 10,250 (INR Crore) 6,178 5,708 7,975 5,173 4,986 1,713 562 341 664 624 98 Sep-21 Jun-22 Sep-22 Construction Finance Corporate Term Loan Lease Rental Discounting Average Ticket Size City Concentration Geographical Distribu
Slide 10: Non-Performing Assets
Non-Performing Assets 30-Sep-21 31-Dec-21 31-Mar-22 30-Jun-22 30-Sep-22 (INR Crore) Gross NPA 3,842 4,736 4,705 3,638 3,502 Loan Asset As on 30-Sep-22 INR Crore 60,342 57,815 57,863 57,287 57,832 (IndAS) Gross NPA (%) 6.37% 8.19% 8.13% 6.35% 6.06% Gross NPA 3,502 Net NPA (%) 3.81% 5.46% 5.06% 4.26%
Slide 11: Expected Credit Loss (ECL) Provisions
Expected Credit Loss (ECL) Provisions Particulars (INR Crore) 30-Sep-22 30-Jun-22 30-Sep-21 Gross Stage 1* 52,438 51,554 52,677 Gross Stage 1 as % to Loan Asset 90.67% 89.99% 87.30% ECL Provision Stage 1 539 600 699 ECL Provision % Stage 1 1.03% 1.16% 1.33% Gross Stage 2* 1,892 2,095 3,824 Gross Sta
Slide 12: Financial Performance
Financial Performance Ghar Ki Baat
Slide 13: Well Diversified Resource Profile
Well Diversified Resource Profile Funding Mix – 30-Jun-22 (%) Funding Mix – 30-Sep-22 (%) Credit Rating • Fixed Deposit: “AA” by 6.7% 6.3% 14.1% 13.2% CRISIL and CARE. • Commercial Paper: “A1(+)” by CARE & 9.2% CRISIL 11.2% 27.9% 0.0% 32.2% • Non-Convertible 0.0% Debentures: “AA” by CARE, India Rati
Slide 14: Financial Highlights – Quarter on Quarter
Financial Highlights – Quarter on Quarter (INR Crore) Revenue Expense 1,683 1,153 1,112 1,100 1,586 1,057 1,053 1,496 1,426 1,412 1,613 1,035 996 931 930 964 1,538 1,435 1,307 1,301 49 61 118 111 71 118 116 126 122 136 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Interest In
Slide 15: Financial Ratio Highlights – Quarter on Quarter
Financial Ratio Highlights – Quarter on Quarter Average Yield Average Cost of Borrowing 10.70% 7.29% 7.24% 7.21% 7.32% 9.69% 9.24% 7.10% 8.53% 8.63% Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Yield (Excl. Securitisation 10.10% 9.78% 8.94% 8.85% 9.93% Income) Spread Net Int
Slide 16: Margin Analysis - Annual
Margin Analysis - Annual Average Yield Average Cost of Borrowings Spread Net Interest Margin 10.7% 7.9% 2.8% 3.2% 3.3% 9.9% 7.3% 7.4% 7.3% 3.1% 9.4% 9.7% 2.5% 2.4% 2.8% 2.1% FY21 FY22 H1FY22 H1FY23 FY21 FY22 H1FY22 H1FY23 FY21 FY22 H1FY22 H1FY23 FY21 FY22 H1FY22 H1FY23 Yield (Excl. Spread (Excl. 10.
Slide 17: Capital Position
Capital Position (INR Crore) Capital to Risk Asset Ratio Provisions 23.4% 24.1% 4,000 4.4% 5.0 2.3% 4.0% 4.5 3,500 3.7% 2.7% 4.0 3,000 3.5 18.7%** 2,544 2,559 2,162 3.0 2,500 2.5 3.2% 2,000 2.0 1.5 1,500 1.0 1,000 0.5 0.0 500 21.8% -0.5 20.7% 20.7% 0 -1.0 17.8% 31-Mar-21 31-Mar-22 30-Sep-22 15.5% To
Slide 18: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Crore) Q2 FY23 Q2 FY22 YoY Q1 FY23 QoQ H1FY23 H1 FY22 YoY FY22 FY21 FY20 Interest Income 1,598 1,500 1,299 2,896 3,111 5,822 7,190 7,688 Add: Net gain on fair value changes 6 38 - 6 80 111 162 159 Add: Income on derecognized loans assigned during
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR Crore) 30-Sep-22 31-Mar-22 31-Mar-21 31-Mar-20 Particulars (INR Crore) 30-Sep-22 31-Mar-22 31-Mar-21 31-Mar-20 LIABILITIES ASSETS 1 Financial Liabilities 1 Financial Assets (a) Derivative financial instruments - - 51 - (a) Cash and cash equivalents 3,246 5
Slide 20: Key Takeaways
Key Takeaways Continue to operate in Leverage advance mass housing and analytics and digital Improve collection Remedial Upgrade technology merchant segment tools to automate credit efficiencies through management Group platforms for enhanced appraisal journey in predictive analytics, to focus on re
Slide 21: Annexure
Annexure Ghar Ki Baat
Slide 22: ESG Snapshot
ESG Snapshot ▪ 99% EMI collections through digital mode Environment ▪ The Company through its CSR initiative supported • Solar Electrification in 20 government school in Haryana & UP • Water Conservation in Rajasthan • Research and innovation in construction sector for environment friendly material
Slide 23: Shareholding
Shareholding Shareholding as on 30-Sep-22 Top Shareholders 2.4% 7.7% 1.9% 32.6% SSG Capital, General Atlantic Singapore Fund, Tata Mutual Fund, Vanguard, Blackrock (ETFs), United India Insurance, Dimensional 23.2% Fund Advisors, Franklin Templeton MF, Bajaj Allianz Life Insurance Inclusions in MSCI
Slide 24: Growth of Housing Finance Sector
Growth of Housing Finance Sector Portfolio Growth of HFCs Portfolio Composition of HFCs* 2% 38% 17% 29% 29% 23% 25% 19% 25% 16% 20% 14% 15% 14% 6% 9% 14% 16% 11% 11% 13% 7% 7% 6% 5% 6% 67% 1% Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 P Mar-23 P On-Book POS Non Housing Loans Housing Loans Home
Slide 25: Glossary
Glossary Ratios Formulas Used Average Yield (%) (Interest Income + Assignment Income) on Loans / Average Loan Assets Cost to Income (%) Operating Expenditure(Employee Cost + Other Expenses + Depreciation - Acquisition Cost – ESOP cost - CSR cost - Fair value on repossessed assets) / (Net Revenue-Acq
Slide 26: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by PNB Housing Finance Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation, directly or indirectly, in any man
Slide 27: Thank You
Thank You Company: PNB Housing Finance Limited CIN: L65922DL1988PLC033856 Ms. Deepika Gupta Padhi (Head-Investor Relations & Treasury) Phone: +91 11 23445214 Investor.relations@pnbhousing.com www.pnbhousing.com 26
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