Pnb Housing Finance Limited · NSE:PNBHOUSING
Pnb Housing Finance — Q2 FY2024 Earnings Presentation
29 slides from Pnb Housing Finance's earnings presentation, Oct 23, 2023
Slide 1: Exchange intimation letter for investor presentation
Ref: PNBHFL/SE/EQ/FY24/69 Date: October 23, 2023 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: PNBHOU
Slide 2: Investor Presentation Quarter Ended September 2023
Investor Presentation Quarter Ended September 2023 23-October-2023 Public
Slide 3: Table of Content
Table of Content 1 Key Performance Highlights 2 Strategic Objective 3 Business Update Asset Quality 4 5 Financial Performance 6 Annexure Public
Slide 4: Key Performance Highlights
Key Performance Highlights Retail Segment Corporate Segment Total INR 7,832 Crore (H1FY24) INR 34 Crore (H1FY24) INR 7,866 Crore (H1FY24) (13.1% YoY ) (-72.3% YoY) (11.6% YoY) Disbursement INR 4,165 Crore (Q2FY24) INR 15 Crore (Q2FY24) INR 4,180 Crore (Q2FY24) (18.1% YoY | 13.6% QoQ) (-77.6% YoY | -
Slide 5: Key Performance Highlights
Key Performance Highlights AUM Loan Assets Deposits Spread NIM 2.60% (H1FY24) 3.92% (H1FY24) INR 67,415 Crore INR 60,852 Crore INR 16,820 Crore (21 bps YoY ) (67 bps YoY ) (2.2% YoY | 0.1% QoQ ) (5.2% YoY | 0.8% QoQ) Public 89% | ICD 11% 2.59% (Q2FY24) 3.95% (Q2FY24) (-79 bps YoY | -3 bps QoQ) (-19
Slide 6: Key Core Strengths and Strategic Objectives
Key Core Strengths and Strategic Objectives Core strengths Strategic objectives Diversified product portfolio with significant retail mix and 1 Asset mix Accelerate growth by focusing on retail lending deleveraging corporate loan book 2 Distribution Pan-India distribution network Expand affordable s
Slide 7: Focus on Strategic Objectives aided in delivering Improved Performance
Focus on Strategic Objectives aided in delivering Improved Performance (INR Crore) 1 Growth in Retail Loan Book 2 Improved Asset Quality (GNPA) Total 8.13% -178 bps Retail 1,493 58,471 -29 bps -119 bps 1,507 -16 bps -34 bps -16 bps -0.29% -104 bps 2,348 -54 bps -7 bps 999 -1.19% -197 bps 50,520 1,01
Slide 8: Improved Retail contribution in Loan Asset
Improved Retail contribution in Loan Asset (INR Crore) Loan Asset Mix Retail Product-wise Break-up Retail Segment-wise Breakup 57,832 60,395 60,852 10% 6% 4% 29% 29% 28% 43% 41% 40% 90% 94% 96% 71% 71% 72% 57% 59% 60% 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 30
Slide 9: De-risking Corporate Portfolio
De-risking Corporate Portfolio Corporate loan book (INR crore) Reduction in Corporate GNPA through multi-pronged strategy (INR crore) % of total 9.9% 3.9% GNPA % 2.86% loan assets) 30.37% 58% YoY 3,327 Reduction in book through down sell, accelerated pre-payments & resolutions Resolved and fully rec
Slide 10: Wide Distribution Network
Wide Distribution Network Loan Asset – Geographical Breakup Affordable 39 89 branches & outreaches 36% 33% 200 28% 31% 151 49 36% 36% 30-Sep-22 30-Sep-23 Disbursement - Geographical Break-up 30-Sep-22 Sept’22 - Sept’23 30-Sep-23 Branches/outreaches 35% 34% 29% 37% 14,000+ Channel Partners for loans
Slide 11: Expand Affordable Segment, especially in tier-2 and tier-3 cities
Expand Affordable Segment, especially in tier-2 and tier-3 cities Affordable Segment Distribution Network Disbursements (INR Crore) +64% +66% 374 228 137 Q4FY23 Q1FY24 Q2FY24 PNB Housing Finance is ready to capitalize on available opportunity in Affordable Segment Built a separate affordable vertica
Slide 12: Non-Performing Assets
Non-Performing Assets -69% 7 6.06% Overall GNPA 3,502 6 4.87% 2,824 5 2,270 2,270 3.83% 3.76% 4 1,086 3 3.59% 3.22% 1.78% 2 2.76% 2.59% 1 30-Sep-22 31-Dec-22 31-Mar-23 30-Jun-23 30-Sep-23 1.19% • Retail Collection Efficiency 30-Sep-22 31-Dec-22 31-Mar-23 30-Jun-23 30-Sep-23 for H1FY24 is 99.3% as ag
Slide 13: Expected Credit Loss (ECL) Provisions
Expected Credit Loss (ECL) Provisions Particulars (INR Crore) 30-Sep-23 30-Jun-23 30-Sep-22 Gross Stage 1* 57,796 56,119 52,438 Gross Stage 1 as % to Loan Asset 94.98% 92.92% 90.67% ECL Provision Stage 1 559 499 539 ECL Provision % Stage 1 0.97% 0.89% 1.03% Gross Stage 2* 1,970 2,006 1,892 Gross Sta
Slide 14: Financial Performance
Financial Performance Public
Slide 15: Well Diversified Resource Profile
Well Diversified Resource Profile Credit Rating Borrowing Mix – 30-Jun-23 (%) Borrowing Mix – 30-Sept-23 (%) 0.7% 3.3% • Fixed Deposit: “AA” by 5.7% 4.8% CARE & CRISIL. 9.5% 10.4% • Commercial Paper: “A1(+)” by CARE & CRISIL • Non-Convertible 40.2% Debentures: “AA” by 32.1% 42.0% 31.4% CARE, India R
Slide 16: Financial Highlights – Quarter on Quarter
Financial Highlights – Quarter on Quarter (INR Crore) Revenue Expense 1,794 1,704 1,777 1,172 1,197 1,225 1,682 1,634 1,099 1,146 1,730 1,718 996 1,008 1,048 1,057 1,613 1,601 1,676 964 135 124 143 150 168 69 64 33 28 59 52 -5 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Int
Slide 17: Financial Ratio Highlights – Quarter on Quarter
Financial Ratio Highlights – Quarter on Quarter Average Yield Average Cost of Borrowing 11.38% 7.97% 7.99% 10.70% 10.41% 10.59% 10.58% 7.76% 7.55% 7.32% Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Spread Net Interest Margin 3.83% 4.68% 3.38% 4.14% 3.86% 3.95% 3.74% 2.65% 2.
Slide 18: Margin Analysis - Annual
Margin Analysis - Annual Average Yield Average Cost of Borrowings Spread Net Interest Margin 10.68% 10.28% 10.59% 7.91% 7.99% 2.77% 2.81% 3.92% 7.30% 7.47% 2.60% 3.73% 9.42% 3.16% 2.12% 2.80% FY21 FY22 FY23 H1FY24 FY21 FY22 FY23 H1FY24 FY21 FY22 FY23 H1FY24 FY21 FY22 FY23 H1FY24 Gross Interest Margi
Slide 19: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Crore) Q2 FY24 Q2 FY23 YoY Q1 FY24 QoQ H1 FY24 H1 FY23 YoY FY23 FY22 FY21 Interest Income 1,703 1,598 1,667 3,370 2,896 6,199 5,822 7,190 Add: Net gain on fair value changes 15 6 9 24 6 34 111 162 Add: Income on derecognized (assigned) loans 0 9
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR Crore) 30-Sep-23 31-Mar-23 31-Mar-22 31-Mar-21 Particulars (INR Crore) 30-Sep-23 31-Mar-23 31-Mar-22 31-Mar-21 LIABILITIES ASSETS 1 Financial Liabilities 1 Financial Assets (a) Derivative financial instruments - - 51 (b) Debt Securities 6,579 3,994 6,202 1
Slide 21: Key Takeaways
Key Takeaways Focus on Retail Strengthen underwriting Resolutions in Capital Raise Enhance Profitability Segment Growth and Collections Corporate Book & Return Ratios including Affordable Framework Segment Continued focus on Retail Leverage advance analytics Resolution in one large Successfully comp
Slide 22: Annexure
Ghar Ki Baat Annexure
Slide 23: Shareholding Pattern
Shareholding Pattern Shareholding as on 30-Sep-23 Top 10 Shareholders 4.3% 6.0% 4.0% 28.1% • Promoter (PNB) 5.1% • Carlyle 9.8% • Ares SSG Capital • General Atlantic Singapore Fund 32.7% • Tata Mutual Fund 9.9% • Pioneer Investment Fund • Vanguard • Nippon Mutual Fund Promoters Quality Investment Ho
Slide 24: Experienced and Professional Management Team
Experienced and Professional Management Team Girish Kousgi Vinay Gupta Sanjay Jain Managing Director and CEO Company Secretary & Chief Chief Financial Officer Compliance officer Jatul Anand Ajay Kumar Mohanty Anujai Saxena Chief Credit & Collections Officer Head - Internal Audit and Chief of Chief T
Slide 25: ESG Snapshot
ESG Snapshot Environment ▪ 99.6% EMI collections through digital mode ▪ The Company through its CSR initiative supported • Solar Electrification in 24 government school in Haryana & UP and initiated in 1 tribal school in Jharkhand • Undertaken various programme under Environment and Water Conservati
Slide 26: Growth of Housing Finance Sector
Growth of Housing Finance Sector Portfolio Growth of HFCs Portfolio Composition of HFCs* 3% 15% 15% 9% 11% 13% 6% 15% 7% 3% 2% 3% 1% -1% Mar-20 Mar-21 Mar-22 Mar-23 73% -1% On-Book POS Non Housing Loans Housing Loans Home Loans LAP Construction Finance Others HFCs Share Total HFC Loans 5.7 5,9 6.6 7
Slide 27: Glossary
Glossary Ratios Formulas Used Average Yield (%) (Interest Income + Assignment Income) on Loans / Average Loan Assets NIM (%) Net Interest Income including assignment income / Average Earning Assets Operating Expenditure(Employee Cost + Other Expenses + Depreciation - Acquisition Cost – ESOP cost - C
Slide 28: 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 29: 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 Public 28
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