PNB Housing Finance
 | |
| Company type | Public |
|---|---|
| Industry | Financial services, Housing Finance Company (HFC), BFSI |
| Founded | 11 November 1988 |
| Headquarters | New Delhi, India |
Number of locations | 189 branches (2023) |
Area served | India |
Key people | Girish Kousgi (Managing Director) Sanjay Jain (Company Secretary & Compliance Head) Anubhav Rajput (Chief Technology Officer) |
| Products | Home Loans, Mortgage loan, Home Improvement Loans, Home Construction Loans, Plot Loans, Home Extension Loans, Land Loans, Loan Against Property, Lease Rental Discounting, Fixed Deposits |
| Revenue |  ₹7,057 crore (US$830 million) (2024) [1] |
| ₹1,954 crore (US$230 million) (2024) | |
| ₹1,508 crore (US$180 million) (2024) | |
| Total assets | ₹72,405 crore (US$8.6 billion) (2024) |
Number of employees | ~1690 (2023) |
| Website | www |
PNB Housing Finance Limited (PNB Housing) is an Indian housing finance company. It was incorporated in 1988 as a subsidiary of Punjab National Bank (PNB). The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits. The company's equity shares are listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange since November 2016.
History
[edit]PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). In 2001, it registered with National Housing Bank (NHB).[2]
On 9 December 2009, PNB entered into a strategic partnership with Destimoney Enterprises Private Limited (DEPL)[3] 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.[4] 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%.
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$220 million).[5][6]
References
[edit]- ^ "FY24 Results".
- ^ NULL. "List of Housing Finance Companies granted Certificate of Registration" (PDF). nhb.org.
- ^ Fe Bureau (16 February 2017). "PNB sells 26% in housing finance arm to Destimoney". financialexpress.com.
- ^ Saha, Manojit (25 February 2015). "Carlyle picks up Destimoney's 49% stake in PNB Housing Finance". Business Standard. Retrieved 14 September 2020.
- ^ 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 (29 March 2019). "PNB inks pacts to sell 13% in housing arm for ₹1,852 crore". @businessline. Retrieved 29 March 2019.
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