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Looking to present housing finance scenario and in order to encourage new
borrowers to avail housing loan from us, the company has offered discount of
0.50 % on the existing PNBHFR (at present 12.50%) to new customers, as
under:
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In this connection please note that:
1. We offer new home loans now at 0.50% less than the previous rates.
2. The rates of interest in old accounts will remain unaffected.
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PNB Housing Finance Ltd., a wholly owned
subsidiary of Punjab National Bank has achieved 76% growth in net Profits after
tax during Nine months ended 31 December 2007. Announcing the results, Shri V K
Khanna, the MD of the company informed that “during the current year, the
profit before tax was Rs. 41.80 crores (Rs. 23.69 crores) and Profit after tax
was Rs. 28.87 crores (Rs. 16.40 crores). The company has achieved 51% growth in
total income at Rs. 159.97 crores (Rs.106.14 crores). The net worth of the
company as on 31.12.07 was Rs.156.60 crores (Rs. 126.02 crores) and the
annualised earning per share was Rs. 12.83 (Rs.7.29). The Book value per share
as on 31st December 07 was Rs. 52.20.”
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The Company has already paid an interim
dividend of 10% for the year, which absorbed a sum of Rs. 3.51 crores including
dividend tax. Shri Khanna also informed, “The Company is looking at higher
business volume in the coming months. The Company is entering into tie-ups for
promoting individual loans in the projects of various Builders across the
country. The business potential is sufficient to ensure good growth in the
current year. During the current financial year, the Company has also raised
bonds aggregating Rs.450 crores. The amount raised is used to augment long-term
resources of the Company.”
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NEW DELHI : PNB Housing Finance Ltd., a
wholly owned subsidiary of Punjab National Bank, has achieved 80% growth in Net
Profit after tax during the Ist half year ended 30th September 2007. Announcing
the results, Shri V K Khanna, the MD of the company, informed that “during the
half year the profit before tax was Rs. 26.40 crores (Rs. 15.03 crores ) and
Profit after tax was Rs. 18.37 crores (Rs. 10.20 crores). The company has
achieved 53% growth in total income at Rs. 103.55 crores (Rs. 67.90 crores).
The net worth of the company as on 30.09.07 was Rs. 146.10 crores (Rs. 119.83
crores) and the annualised earning per share was Rs. 12.24 (Rs. 6.80). The Book
value per share as on 30th September 07 was Rs. 48.70.”
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The Board has approved an interim
dividend of 10% for the year, which will absorb a sum of Rs. 3.51 crores
including dividend tax. Shri Khanna also informed, “The Company is looking at
higher business volume in the coming months. The Company is entering into
tie-ups for promoting individual loans from various Builders across the
country. The business potential is sufficient to ensure good growth in the
current year. During the current financial year, the Company has raised bonds
series IV and V for Rs. 100 crores each. The amount raised will be used to
augment long-term resources of the Company.”
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Date:
14.12.07
For & on behalf of the Board
Place: New
Delhi
V. K. Khanna
(Managing
Director)
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1. The Board has recommended a final dividend of
10% on equity shares subject to approval of the members of the Company.
2. The main business of the Company is to provide loans for purchase or
construction of residential houses. All other activities of the Company revolve
around the main business and accordingly there are no separate reportable
segments, as per the Accounting Standard on 'Segment Reporting' (AS 17) issued
by the Institute of Chartered Accountants of India.
3. The Company has made provision on Standard non housing loans @ 0.4 % as
against a stipulation of 0.1% by NHB. The Company has also made a provision of
0.2% on Standard Housing Loans.
4. The above results were reviewed by the Audit Committee and taken on record
by Board of Directors at their meeting held on 30.04. 2007 |
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Date:
30.04.07
For & on behalf of the Board
Place: New
Delhi
V. K. Khanna
(Managing
Director)
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| Last
updated on:12-Feb-2008 |
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