PNB Housing to distribute loan of Rs 13000 crore

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PNB Housing Finance expects debt disbursement of Rs 13,000 crore in the current financial year. The company’s Managing Director and CEO Neeraj Vyas said that loan demand is expected to increase during the festive season in October-November. He said that the demand from the multi-storey residential project section is increasing after the lockdown curbs imposed due to Corona virus eased.



Increasing demand for housing in middle class
Vyas said that housing demand from a particular class (middle class) is increasing. In the market, it is said to be a sign of revival. We were hoping to reach a loan disbursement of Rs 500 crore in September, but we have already crossed it. Punjab National Bank-promoted PNB Housing Finance has given Rs 674 crore retail and Rs 20 crore corporate loans in the first quarter ended June.

Also Read: PAN Card Status: Track Your 10-Digit Permanent Account Number by This link

This figure stood at Rs 7,634 crore in the same quarter of the previous financial year. Vyas said that the company expects loan disbursements of Rs 1,200 to 1,500 crore every month from October. From January this will be increased to Rs 2,000 crore every month.



He said, I hope that after the festive season starts in October-November, we will disburse around Rs 1,200 to 1,500 crore loan every month. Since January, we have a target of disbursing loans of Rs 2,000 crore every month. PNB Housing Finance disbursed a loan of Rs 18,626 crore in 2019-20. This is 48 percent less than in 2018-19. Going forward, Vyas expects high demand from people buying houses in multi-storey residential projects.



He said that the value of property in this category is between 75 to 90 lakh rupees. The loan requirement in this is 50 to 75 lakh. He said that the situation in the region looks good after Kovid-19. Because people now feel that they need a bigger house to live in. In addition, a large number of expatriate Indians (NRIs) have also returned home. We are getting a lot of inquiries from NRIs.

The post PNB Housing to distribute loan of Rs 13000 crore appeared first on informalnewz.



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