Monday, June 19, 2023

PNB Housing Finance Makes A Mark In Bangalore, Enabling Affordable Homeownership Opportunities

·         PNB HFC announced the inauguration of its Roshni-focused branches in 12 new branches

·         Roshni Home Loans offer opportunities to a wide range of customers, including those new to credit and self-employed individuals with low/middle incomes

·         Flexible repayment options with lower EMIs and tenures of up to 30 years

PNB Housing Finance Limited opens 4 new branches exclusively offering affordable housing product- Roshni in Bangalore, in-line with its long-term goal of assisting individuals in achieving their dream of owning a home. The company has established a distinct affordable vertical within its structure, comprising dedicated teams for sales, credit, collections, and operations.

The inauguration of the Kengeri Branch was graced by the presence of Girish Kousgi, MD & CEO of PNB Housing Finance. Considering Bangalore’s stature as a prominent metropolitan city with progressive infrastructure, it is an opportune destination for PNB Housing Finance to strategically concentrate its market endeavours. 

Also, they have inaugurated similar branches in Hoskote, Yelahanka and Attible, which was inaugurated by Mr. Amit Singh, Chief People Officer, Mr. Prashanth Shenoy, National Head Products & Mr. Vishal Kaushik, Head of Administration from PNB Housing Finance.

With Roshni, the organization shall provide affordable home loans particularly in outskirts of tier 1, & tier-2 and tier-3 cities. The scheme comprises a diverse selection of loans catering to various needs, including the purchase of house property, self-construction, home extension/renovation, plot purchase plus construction, and loans against property. Therefore, whether applicants are first-time credit users, self-employed without a formal income and salaried from a low-income group with a household income as low as Rs10,000 to the middle-income group category, all will be eligible for loans.

PNB Housing Finance MD and CEO, Girish Kousgi, said, “With an unwavering vision to support homeownership, we strive to empower and uplift individuals' aspirations. Our mission is to facilitate accessible home loans thereby, fostering socio-economic progress for both individuals and communities. We are particularly thrilled to include Bangalore among the new locations, given its thriving real estate market and demand for affordable housing. Through Roshni, we are dedicated to expanding our affordable housing portfolio, enabling us to reach a wider audience across the nation in line with the Central Government's 'Housing for All' initiative. In three years, there will be a good mix between affordable housing loans and prime loans within the entire retail space”.

Making inroads across the country, the Company announced the inauguration of its Roshni-focused branches in 12 new branches which includes Hoskote, Kengeri, Yelahanka and Attibele, Wagholi, Bolinj, Old Panvel Thillai Nagar, Nagercoil, Mathura, Jodhpur and Ahmedabad spread across 6 states.  With the opening of these branches the company has expanded to 88 Roshni branches spread across over 150 districts and 500-plus locations and are actively working towards further expansion.

With more than 34 years of industry presence and customer trust, a pan-India branch network and a robust service delivery model, PNB Housing Finance serves home loan seekers across the country. The Company intends to grow across 15 states, including Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra and Delhi-NCR.

About PNB Housing Finance Limited

PNB Housing Finance Limited (NSE: PNBHOUSING, BSE: 540173) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company was listed on the Indian stock exchanges on 07 November 2016. The Company’s asset base comprises retail loans and corporate loans. The retail business focuses on organized mass housing segment financing for the acquisition or construction of houses. In addition, it also provides loans against properties and loans for the purchase & construction of non-residential premises. Corporate loans are mainly to developers for the construction of residential/commercial properties, corporate term loans and lease rental discounting. PNB Housing Finance is a deposit-taking Housing Finance Company.

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