At the end of FY25, the lender’s asset quality has improved to 1.08%, compared to 1.5% a year earlier. The goal for this year is to reduce the gross non-performing assets (NPA) to below 1%.
India’s PNB Housing Finance has appointed Ajai Kumar Shukla as its managing director and CEO for a five-year term starting December 18, resulting in a 5% increase in the mortgage lender’s shares. Shukla brings over 30 years of experience in housing and mortgage lending and will take over from Girish Kousgi, who was instrumental in accelerating the company’s growth in the affordable housing sector, outperforming its competitors. The announcement comes as significant home financiers face growing challenges from banks in the luxury home lending market, while affordable housing has become more appealing due to higher yields and limited competition. Currently…
NEW DELHI: LIC Housing Finance announced a 25.4% increase in net profit, reaching Rs 1,368 crore for the fourth quarter ending March 2025, compared to Rs 1,091 crore in the same quarter of the previous fiscal year. The company reported total income of Rs 7,283 crore for the March quarter of FY25, an increase from Rs 6,937 crore in the corresponding quarter of FY24. For the fiscal year 2024-25, the net profit increased by 14% to Rs 5,429 crore, up from Rs 4,765 crore in FY24. LIC Housing Finance shares closed at Rs 624.90, gaining 1.31% from the previous close…
Representative image CHENNAI: Sundaram Home Finance has announced its intention to raise over Rs 6,000 crore to enhance its growth in the current financial year. The funding will be achieved through various means including refinancing from NHB, bank loans, debentures, and fixed deposits, as stated by an official. Sundaram Home Finance reported a 26% increase in net profit for the January-March 2025 quarter, reaching Rs 71.57 crore compared to Rs 56.80 crore in the same quarter of the previous financial year. Disbursements in the reviewed quarter amounted to Rs 1,929 crore, up from Rs 1,469 crore in the previous year’s…