PNB Housing Finance is looking to add 24 branches in 9 locations in the financial year 2019, said Sanjaya Gupta, MD of the company.

In financial year 2018, they added 21 branches in seven location.

Gupta said the growth rate trajectory is linked to macroeconomic conditions but expected the growth to be around 1.7-1.75 times of industry growth rate.

He said that the company was a conservative player and the portfolio was 80 percent retail and 20 percent wholesale. "So, the gross NPAs are only 0.33 percent."

He is also confident of passing on the rising interest rates to customers. “We have already done a reference rate change of 25 basis points across all segments and products and our customers have responded well,” he said.

The company will be able to maintain spreads between 2 and 2.1 percent, and margins between 3.05-3.10 percent, said Gupta, adding that gross margins would be around 3.4 percent. “This will be safe to give decent profitability on the portfolio we are building,” he said.

First Published:May 4, 2018 2:03 PM IST