PNB Housing hikes

PNB Housing Finance, the country’s second-largest housing finance company by deposit book size, has launched the facility of online deposits both on its website and mobile app.
Not only this, the company is also offering an attractive rate of interest of up to 8.45% per annum for a 44-month deposit, marking a rise of 35bps over the last ROI.

PNB Housing is adept in bringing the highest level of convenience and unparalleled service to its customers. It thrives on digital interventions that bring ease in transacting with the company, from anywhere and anytime.
The latest addition will allow applicants to create deposits in just three simple steps with the help of e-KYC and digital signatures. The auto-renewal and online redemption are other distinct advantages of the feature. 
PNB Housing Finance Executive Director and Business Head Shaji Varghese said, “Online deposits facility is a relatively new service in the housing finance sector. The paucity of time for many has led to the expectation of getting every service at a touch of a button and our online FD service does just that.
In fact, the auto-renewal and online redemption features are novices in the sector. So anyone can create an FD without having the need to walk into a branch or call customer care, that too, anytime anywhere in just about 10 minutes. As the entire process is automated, it eliminates the need for physical KYC.”
PNB Housing Finance is one of the few deposit-taking housing finance companies (HFCs) offering competitive interest rates. As on June 30, 2018, the deposits book size stands at Rs11,724cr. The company stands fifth among leading HFCs with assets under management at Rs68,578cr as on June 30, 2018.
RESULT OUTCOME: IN LINE WITH ESTIMATE
Revenue growth of 23% yoy in Q1FY19 came on a high base of Q1FY18 (up 33% yoy). The company kept a lid on its operating costs which led to margin expansion on qoq and yoy basis. BFL is setting up an aluminum forging facility in BF PMT in Tennessee, USA, at an investment of $55mn. The facility will commence production in CY20 and will cater to the car market in North America. The management has guided for strong capex over the next two years: Rs500cr in FY19 and Rs400cr in FY20. Record sales of North American Class 8 trucks augur well for BFL, which derives significant revenues from that segment. At CMP, the stock trades at 21x FY20E EPS.