PNB Housing to focus on AP, Telangana
PNB Housing Finance Limited (PNBHFL), a leading housing finance company, is looking to focus on housing finance market in Telangana and Andhra Pradesh as it intends to tap growing opportunities in the two Telugu states.
Hyderabad: PNB Housing Finance Limited (PNBHFL), a leading housing finance company, is looking to focus on housing finance market in Telangana and Andhra Pradesh as it intends to tap growing opportunities in the two Telugu states.
As part of this, the company, a subsidiary of Punjab National Bank and a partner of Quality Holding Investments, has inaugurated its Regional Office in the city to cater to the markets in AP and TS.
Also, it plans to set up branches across the two states to further strengthen its operation. “We are going to set up branches at Visakhapatnam and Vijayawada in Andhra Pradesh which offers excellent growth opportunities,” Shaji Varghese, Business Head, PNB Housing Finance Limited, told media here.
Currently, the company has a loan book size of Rs 1,000 crore in Hyderabad and it’s planning to increase it. “When it comes to real estate, Hyderabad is a very important market. The Hyderabad Regional Office will act as a pivotal point for the existing and forthcoming PNB Housing branches in the surrounding regions,” he said.
The company has been growing at an annual growth rate of over 50 per cent for the past several quarters. “Tapping new regions and establishing new customer base have been one of our strategies behind our exponential growth trajectory,” he said.
As of now, the PNBHFL is operating nine nines branches in South India and has plans to open three more in this fiscal itself. It will establish an additional 15 branches in next fiscal. “South Indian market accounts for Rs 5,310 crore, or 24 per cent, of our total loan book size as of September 30, 2015,” he said.