PNB Housing Finance aims to grow its portfolio by 17 per cent during the current financial year on the back of an increase in branch network and focus on affordable housing loan.

The housing finance company has enough capital to sustain this kind of high growth, PNB Housing Finance Managing Director Girish Kousgi has told the PTI.

For the next two to three years, “we don’t need capital as we just raised capital through the rights issue last year”, Mr Kousgi has said.

Last year, the mortgage firm had raised about Rs 2,500 crore from rights issue.

Talking about the strategy to achieve this kind of loan growth, he adds that PNB Housing closed FY24 with a loan book of Rs 63,000 crore and aims to grow it by 17 per cent in FY25 with focus on affordable segment.

The company’s affordable housing loan book, which it started 15 months ago, is Rs 1,790 crore.

However, PNB Housing Finance’s corporate loan book shrank by 46 per cent in FY24 to Rs 2,052 crore as it was on a balance sheet cleansing exercise.

Mr Kousagi has said that the company will also increase corporate lending this year after three years of pause.

The housing finance company opened 100 branches last year, which will help in expanding business, including in affordable segment. With this, the total number of branches has increased to 300.