PNB Housing Finance rallies 7% on recovery of Rs 784-cr corporate non-performing account

Shares of PNB Housing Finance jumped 7 percent in early trade on August 21 after the recovery of Rs 784-crore corporate non-performing account.

At 10:10am, the PNB Housing Finance stock was trading 6.23 percent higher at Rs 678.24 on the NSE.

The housing finance company through its focused and multi-pronged resolution strategy has resolved and fully recovered its large corporate non-performing account of Rs 784 crore, which is 1.3 percent of loan asset as of June 2023, according to a filing with exchanges.

The account has been resolved on August 19 through an ARC sale under the Swiss challenge method. As of June 2023, the gross NPA of the company stood at Rs 2,270 crore (3.76 percent of loan asset) and loan asset was Rs 60,395 crore.

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Shareholding pattern

PNB Housing Finance has a market capitalisation of Rs 16,491 crore. Public owns 39.47 percent stake in the company, while promoters, FIIs and DIIs hold the remaining 28.15 percent, 24.77 percent and 7.61 percent stake in it.

Stock performance

PNB Housing Finance has lost 2.24 percent of its value over the past one month. The benchmark Nifty50 index has lost 2.20 percent of its value over the same duration.

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