The HFC aims to add 60 more branches by the end of this financial year, taking the total number of affordable branches to 160
Abhishek Biswal, Business Head, Airtel IQ
FinTech BizNews Service
Mumbai, 6th Nov 2023: PNB Housing Finance, the third largest* housing finance company in India, marked a significant milestone today with the inauguration of its first all-women branch in the country. This exclusive, all-women branch located in Tambaram, Tamil Nadu, also marked the Company’s 100th Affordable-focussed branch. The inauguration was graced by Girish Kousgi, MD & CEO, PNB Housing Finance, along with Ms. Gita Nayyar and Mr. R. Chandrasekaran, Independent Directors, PNB Housing Finance.
With this inauguration, PNB Housing Finance has strengthened its commitment towards gender diversity and women empowerment. By establishing an all-women branch, it aims to create a unique and supportive environment where women can flourish in both professional and personal spheres of life and contribute to the economic progress of the nation.
This is also the Company’s 100th branch in the country dedicated to offering affordable housing finance solutions to customers through its affordable segment scheme Roshni. The initiative aligns seamlessly with its objective of business expansion and enhancing the accessibility of its products & services for a wider spectrum of customers.
Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, stated, “As a progressive housing finance company, we recognize the importance of gender diversity and inclusivity in the workplace. Our first-ever all-women branch will help foster an environment where women can thrive, build their skills and contribute to the success of the organization. Further, this being our 100th branch for Roshni home loans, reaffirms our dedication to offering affordable and accessible financing solutions, thereby fulfilling the home ownership dreams of a diverse customer base. We are quite optimistic about the growth opportunities in the affordable segment and are looking forward to adding 60 more Roshni branches as a strategic step in that direction. Tamil Nadu is an attractive market for us and we will continue to solidify our presence in the state with our offerings.”
The Company clocked in around INR 750 crores disbursement under Roshni as on 30th September, 2023, witnessing a growth of ~65% quarter-on-quarter. It has 14 Roshni branches in the state of Tamil Nadu and plans to take this number to 22 by the end of the current financial year. It has an average ticket size of ~INR 15 lacs and is poised to substantially augment the affordable segment portfolio, propelled by rapid growth in disbursements.
Roshni Loans represents PNB Housing Finance’s steadfast focus on financial inclusion by offering loans ranging from INR 5-35 lakh for home buying, home expansion & renovation, plot purchases, and loans against property. It has a customer-oriented approach with advantages such as flexible loan tenure, minimal income documentation, robust service delivery mode, high loan-to-value ratio, and competitive interest rates.
Along with the focus on Affordable segment, the Company also plans to opening additional 27 branches for its ‘Prime’ retail loans offering, taking the Prime branches total to 138 by the end of this Financial Year. The expansion in retail segment including affordable and prime is expected to take the Company-wide locations count to 298 by the end of this Financial Year.
