On behalf of Board of Directors, I present the 30th Annual Report and the consolidated financial statements of PNB Housing Finance Limited for the year ended March 31, 2018. It gives me immense pleasure that the Company is now in the elite list of large housing finance companies in terms of loan assets and deposits. The Company has traversed this journey in a short span of six years, post undertaking a Business Process Re-engineering Project.
Taking challenges in your stride and trying till you succeed are the two key attributes that the school of sports teaches us. As Michael Jordan once said, "Never say never because limits, like fears, are often just an illusion." Sport has a capacity to transcend barriers and to energize people. Goals are set high and there are no limits to the ambitions of achievement. However, these goals cannot be achieved alone. Partnership and cooperation are vital.
Senior Management Team
PNB HOUSING - COMMITTED TO SPREAD SMILES AMONG HOME ASPIRANTS ON ITS PATH TOWARDS NATION BUILDING
- The Company...
- has been serving home aspirants across the country for 30 years
- reaches home aspirants through 84 branches, 21 regional offices and 3 zonal offices spread across 47 unique locations across the country
- is the 5th largest housing finance company by assets size and 2nd largest* by deposit book size among leading HFCs in India
- offers a wide range of products in home loans, non-home loans, contruction finance to real estate developers and deposits
- fosters customer delight and convenience with transparency vai numerous technology anabled and customer friendly solutions
- became a public listed entity in FY2016-17
- has ISO 9001:2015 certified central operations and central processing centre, ISO 9001:2015 customer service operations and ISO 9001:2008 certified contact centre
^ ICRA Indian Mortgage Finance Market Update for 9MFY2018
STEPPING UP PERFORMANCE
HIGHLIGHTS FOR FY2017-18
During the year, the Company crossed landmark number of ₹ 50,000 crores assets with assets under management expanding to ₹ 62,252 crores marking a rise of 50% over FY2016-17
The portfolio quality remained robust as our NPAs were among the lowest in the industry
We maintained a well balanced portfolio with exposure to home loan at 70% and non-home loan at 30%
We continued to self-generate our raw material for lending purpose as deposits contributed 21.35% to borrowing mix
Incorporated wholly owned subsidiary PHFL Home Loans Services Ltd. to focus on sales and distribution functions of PNB Housing
Our self-efficiency enhanced as we sourced 65% of our business from in-house sales channel; now a part of PHFL Home Loans and Services Ltd.
Our customer service operations are now ISO certified indicating an efficient and customer focused quality framework
The Company has been certified as a Great Place to Work second year in a row
STEPPING UP OUR POSITION
Over the past few years, PNB Housing has been maintaining its stature as one of the fastest growing HFCs in the Country. We have been rising up the charts steadily and today we are positioned amongst the top three players in the segment. We are stepping closer to our mission to stand tall as one of the most admired housing finance companies in India.
STEPPING UP EFFICIENCY
AWARDS AND RECOGNITIONS
Awarded ‘Best Project Finance Company of the Year’ at Construction Times Builders Award 2018
Awarded ‘Excellence in Customer Relation’ at GIHED CREDAI Property Show 2017
Honored in the field of “IT Security” CSO 100 Awards
Awarded “IPO of the Year” by Finance Monthly Magazine (M&A Award)
Awarded Bronze for Outdoor Campaign during IPO at Outdoor Advertising Awards 2017 in the financial services category
Awarded as ‘Leading Housing Finance Company 2017’ at National Awards for Best Housing Finance Companies organized by CMO Asia
Bagged Silver Award for the Annual Report FY2016-17 from ABCI (Association of business communication of India)
Awarded ‘Housing Finance Company of the Year’ at the 10th Annual Estate Awards organized by Franchise India in association with ET Now
Recognized as ‘Symbol of Excellence in the BFSI Sector’ at The Economic Times Best BFSI Brands 2018
Conferred the ‘Best Housing Finance Company of the Year’ at ET Now Rise with India – Banking, Financial Services and Insurance Awards
STEPPING UP REACH
India's housing finance sector is significantly under penetrated. The environment is conducive to capitalise upon the plethora of opportunities that have opened up over the years for the sector. PNB Housing is expanding its reach through a well-defined strategy of controlled aggression, ensuring that each of its branch is a healthy contributor to the performance of the Company.
STEPPING UP FITNESS
The housing finance sector is surrounded by opportunities and challenges. We consider these challenges inherent to our business and stay prepared to mitigate them. We work hard to keep ourselves agile and alert.
STEPPING UP TEAMWORK
Team work is about oneness. It is a virtue that makes you believe that “No one of us, is as strong as all of us!” PNB Housing is a united contingent of talented work force, business associates, stake holders and employees, where each member knows his or her role and is determined perform it to the fullest to make this a great place to work.
STEPPING UP TECHNOLOGY
Technology continues to be a power that we humans have harnessed to augment our capabilities. PNB Housing believes in staying ahead of time by adapting, innovating and deploying state of the art technology to improve efficiency, customer convenience and ease of doing business with our stakeholders.
STEPPING UP PHILANTROPHY
Knowledge, skill, humility and experience are tools meant to be utilized for a greater good. Through our CSR initiatives we are creating a platform to help the lesser privileged in realizing their true potential.
If it doesn’t challenge you, it won’t change you!
The urge to push limits is a trait that fuels the fire within us to outdo the set benchmarks.
It is this urge that prompts us to Step Up and thrust ourselves beyond the known boundaries to deliver performance exceptionnelle.
Excellence never comes easy. It demands relentless supply of dedication, patience and most importantly physical and mental agility, much in similarity to what we get to see in the world of sports. Records get made, records get broken, winners celebrate while others gear up for the next opportunity. And yet it’s not about winning or losing. It’s about becoming better than one already is, for there are no confines to self-improvement.
We at PNB Housing, are inspired by the athlestism that makes sports one of the most exciting activities to engage in. Year on year, we compete with ourselves and try to better our performance by working harder and accepting bigger challenges.
Our Annual Report 2017-18 is a tribute to the spirit of sportsmanship that inspires us to step up and move forward in the journey called ‘a better tomorrow’.