PNB Housing Finance Limited

PNB Housing Finance Ltd
Type	Private company
Traded as	[NSE India: PNBHOUSING]
Industry	Housing Finance Company (HFC), Financial services, BFSI
Founded	11 November 1988
Headquarters	New Delhi, India
Area served	India
Key people	Hardayal Prasad; (Managing Director) ; Ajay Gupta ; (ED & Chief Risk Officer) ; Sanjay Jain ; (Company Secretary & Compliance Head); Kapish Jain; (Chief Financial Officer) ; Anshul Bhargava; (Chief People Officer) ; Nitant Desai ; (Chief Operations & IT Officer)
Products	Home Loans, Home Improvement Loans, Home Construction Loans, Plot Loans, Home Extension Loans, Land Loans, Loan Against Property, Lease Rental Discounting, Fixed Deposits
AUM	US $ 9,571 Mn (31-Mar-18)
Number of employees	~1290 (2018)
Website	www.pnbhousing.com

PNB Housing Finance Limited (PNBHFL) is an Indian public limited housing finance company (HFC), headquartered in New Delhi with branches in major cities across India. The company is promoted by Punjab National Bank and is registered with state owned bank and regulation authority of India - National Housing Bank (NHB).[1] The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits.

On 30 March 2019, Punjab National Bank announced that it had signed an agreement to sell a 13.01% stake in PNB Housing Finance to private equity firm General Atlantic and alternative investment firm Varde Partners for ₹1,851.60 crore (US$260 million).[2][3]

As on 31st december 2018, the shareholding pattern in PNB HFL, Highest shareholding is 32.7 percent of PNB BANK (PROMOTER/Parent) & 32.3 Percent of Quality investment holding (QIH) & remaining part of FII, public, mutual fund companies, corporate bodies & others.

Company history

PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). On December 9, 2009 PNB entered into a strategic partnership with Destimoney Enterprises Private Limited (DEPL)[4] and sold its 26% stake to DEPL. DEPL which held 49% shares in the company until February 2015 sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm.[5] The remaining 51% was owned by the parent bank i.e. Punjab National Bank.

In November 2016, the Company came out with a public issue of equity shares. Its equity shares are listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with effect from 7 November 2016. Post the public issue, the promoters jointly hold 76% of shared in the company and the public shareholding stands at 24%. The Company does have a 100% owned subsidiary for offering various loans under a dedicated direct sales force.

Operations

The company has Pan India presence in more than 60 locations through a network of 84 branches & 36 outreach offices as on 31 March 2018. Company’s 21 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Thane, Pune, Ahmedabad, Indore and Hyderabad which support branch operations The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium. Fixed Deposits, other than direct channel is also sourced via Broker Network

Products

Home Loan: PNB Housing provides housing loans to individuals for construction, purchase, repair, and upgrade of houses.

Non Home Loan: The company also provides loan against property, commercial property loan, lease rental discounting loans for commercial property, loans for purchase of residential plots and loan for real estate developers

Deposits:[6] PNB HFL also offers Fixed Deposits of different maturities and various interest payment options

Citations and references

NULL. "List of Housing Finance Companies granted Certificate of Registration" (PDF). nhb.org.
Panda, Subrata (29 March 2019). "PNB offloads stake in PNB Housing Finance for Rs 1,851 crore". Business Standard India. Retrieved 29 March 2019.
Bureau, Our. "PNB inks pacts to sell 13% in housing arm for ₹1,852 crore". @businessline. Retrieved 29 March 2019.
Fe Bureau. "PNB sells 26% in housing finance arm to Destimoney". financialexpress.com.
http://www.business-standard.com/article/finance/carlyle-picks-up-destimoney-s-49-stake-in-pnb-housing-finance-business-standard-news-115022500315_1.html
MSSN Team. "PNB Housing Finance entices investors with as high as 15% "yield"". Moneylife.in.

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[1] NULL. "List of Housing Finance Companies granted Certificate of Registration" (PDF). nhb.org.

[2] Panda, Subrata (29 March 2019). "PNB offloads stake in PNB Housing Finance for Rs 1,851 crore". Business Standard India. Retrieved 29 March 2019.

[3] Bureau, Our. "PNB inks pacts to sell 13% in housing arm for ₹1,852 crore". @businessline. Retrieved 29 March 2019.

[4] Fe Bureau. "PNB sells 26% in housing finance arm to Destimoney". financialexpress.com.

[5] ttp://www.business-standard.com/article/finance/carlyle-picks-up-destimoney-s-49-stake-in-pnb-housing-finance-business-standard-news-115022500315_1.html

[6] MSSN Team. "PNB Housing Finance entices investors with as high as 15% "yield"". Moneylife.in.