This will be JICA's first debt funding in the housing finance sector in India. The country's fourth-largest housing finance company closed the year with healthy assets under management (AUM) of ₹84,000 crore.
PNB Housing Finance has signed an agreement with Japan International Cooperation Agency (JICA) to raise 75 million dollars (about ₹568 crore) with co-financing of 25 million dollars (about ₹190 crore) by Citibank to finance mortgage loans in the affordable housing Schemes in India.
|Project Name||Builder Name|
|The Millennia||Sternal Buildcon Pvt. Ltd. (M/S Signature Global Group)|
|Solera 2||Sternal Buildcon Pvt. Ltd. (M/S Signature Global Group)|
|Raheja Krishana Housing||Raheja Developers|
|Supertech Basera||Revital Reality Private Limited|
|Arawali Homes||GLS Infratech Pvt. Ltd|
View All Properties in Gurgaon Under Affordable Housing Scheme
This will provide affordable housing to low-income households in India based on the Facility for Accelerating Financial Inclusion in Asia.
"This will be JICA's first debt funding in the housing finance sector in India. We look forward to having a long term relationship with them," said PNBHF Managing Director Sanjaya Gupta.
"In spite of the current lockdown, with our operational robustness and resilient human capital, the team worked relentlessly to have the agreement executed," he said in a statement.
maintained liquidity of ₹7,588 crore (not considering statutory liquidity ratio investments) as on March 31 and has additional sanctioned but undrawn lines of ₹3,994 crore. It has serviced all committed liabilities till date without exercising the moratorium option.
The country's fourth-largest housing finance company closed the year with healthy assets under management (AUM) of ₹84,000 crore and deposit mobilisation of ₹9,200 crore in FY20.
"Though the impact of the changed scenario arising due to COVID-19 is getting worked out, as an organisation we continue to be extremely vigilant and focused towards recovery initiatives," said Gupta.
The loan spread is expected to be within the guided range of 200 to 215 basis points for the current financial year, he said.