In Thursday’s trading session, the shares of a registered Indian housing finance company slumped 3.6 percent to Rs. 861.15 on BSE, after a Foreign Institutional Investor (FII) offloaded shares worth over Rs. 1,069 crores and exited the company.
With a market capitalisation of Rs. 22,466.5 crores, at 11:14 a.m., the shares of PNB Housing Finance Limited were trading in the red at Rs. 866.5, down by 3.02 percent, as against its previous closing price of Rs. 893.45.
What’s the News:
As per the block deal data available with the BSE, the foreign portfolio investor General Atlantic Singapore Fund FII PTE Ltd. exited from PNB Housing Finance by selling its entire 5.13 percent stake.
General Atlantic Singapore Fund offloaded 1.33 crore equity shares at an average price of Rs. 802.5 per share, resulting in a total transaction value of nearly Rs. 1,069.33 crores.
In contrast, the Government of Singapore purchased around 36.4 lakh equity shares in the company, amounting to about Rs. 292.5 crores, also at an average price of Rs. 802.5 per share.
Financials:
The company has reported a significant growth in revenue from operations, with a 6.7 percent YoY rise from Rs. 1,708 crores in Q1FY24 to Rs. 1,823 crores in Q1FY25. Similarly, the net profit jumped by 24.8 percent YoY from Rs. 347 crores to Rs. 433 crores, during the same period.
Shareholding Pattern:
As per the June 2024 shareholding pattern, the Promoters hold a 28.13 percent stake in the company, Foreign Institutional Investors (FII) hold a 17.89 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 43.04 percent and 10.95 percent stake in PNB Housing Finance, respectively.
Stock Performance:
The shares of PNB Housing Finance delivered positive returns of nearly 32.2 percent in one year as well as around 10.7 percent returns year-to-date.
About the company:
Incorporated in 1988, PNB Housing Finance Limited is primarily engaged in the business of providing loans for the purchase, construction, repair and up-gradation of houses, along with offering loans for commercial space, loans against property and loans for the purchase of residential plots.
Written by Shivani Singh
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