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Business Standard
22-07-2025
- Business
- Business Standard
Aavas Financiers Ltd. Hosts PMAY Urban 2.0 Customer Felicitation & Green Home Certificate Distribution Ceremony in Udaipur
BusinessWire India Udaipur (Rajasthan) [India], July 22: Aavas Financiers Ltd., a leading name in affordable housing finance, proudly hosted the PMAY Urban 2.0 Customer Felicitation & Green Home Certificate Distribution Ceremony recently at Hotel Ramada, Udaipur. The event celebrated the successful homeownership journey of beneficiaries under the Pradhan Mantri Awas Yojana - Urban 2.0 and recognized their contribution to sustainable living through the distribution of Green Home Certificates. The ceremony was graced by the presence of esteemed dignitaries: * Shri Kuldip Narayan, IAS, Joint Secretary, Ministry of Housing and Urban Affairs, Government of India (Board Member, National Housing Bank) * Smt. Sarika Pradhan, Secretary, Social Welfare Department, Government of Sikkim (Board Member, National Housing Bank) * Shri Sanjay Shukla, Managing Director, National Housing Bank * Shri Prabhanjan Mohapatra, Board Member, National Housing Bank * Senior Officials from the National Housing Bank The event was part of Aavas' efforts to contribute to the Government of India's "Housing for All" initiative by providing access to formal housing finance for underserved communities in Tier 2 to Tier 4 cities. Shri Kuldip Narayan, Joint Secretary, Ministry of Housing and Urban Affairs, GoI, appreciated Aavas Financiers' Green Home initiative and called it a model worth scaling. He encouraged people to "each one, teach one" about green housing benefits and reminded housing finance institutions of their role in reaching underserved segments to maximise the impact of PMAY Urban 2.0. Shri Sanjay Shukla, Managing Director, National Housing Bank, highlighted that owning a home is a basic need and lifelong aspiration for every Indian. He stressed the importance of promoting the Green Home concept to encourage sustainable living, reduce energy costs, and protect the planet. He also urged everyone to spread awareness about PMAY Urban 2.0 within their communities. Shri Sachinder Bhinder, Managing Director & CEO, Aavas Financiers Ltd stated: "We are honoured to partner in the nation-building initiative of PMAY (Urban) and to be a trusted enabler in the homeownership journey of thousands of families. This event is a celebration of hope, dignity, and dreams fulfilled. We also take pride in recognising our customers' commitment to eco-conscious living through Green Home Certifications, aligning with our broader goal of sustainable housing." Through this initiative, Aavas Financiers reaffirms its commitment to making affordable and environment-friendly housing a reality for every Indian. The Green Home Certificates were awarded to encourage sustainable building practices, promote energy efficiency, and acknowledge the role of homeowners in reducing their environmental footprint.
Business Standard
22-07-2025
- Business
- Business Standard
PNB Housing Q1 PAT jumps 23% YoY to Rs 534 cr on strong home loan demand
PNB Housing Finance's consolidated net profit rose 23.26% to Rs 533.50 crore while total income jumped 13.63% to Rs 2,081.87 crore in Q1 June 2025 over Q1 June 2024. Net interest income (NII) for the period under review was Rs 760 crore, up 17% year on year (YoY). Net Interest Margin stood at 3.74% in Q1 FY26 compared with 3.65% in Q1 FY25. Gross Margin, net of acquisition cost, stood at 4.06% in Q1FY26. In Q1 FY26, operating expenditure grew by 12% YoY to Rs 216 crore. Pre-provision operating profit grew by 17% YoY to Rs 632 crore. With recovery from write-off pool, Credit Cost was -27 bps in Q1 FY26 as against -7 bps in Q1 FY25. Profit before tax in Q1 FY26 stood at Rs 687.92 crore, marking a 24.13% increase from Rs 554.18 crore in Q1 FY25. Yield stood at 9.99% in Q1 FY26, compared to 10.03% in Q1 FY25. Cost of Borrowing is at 7.76% in Q1 FY26 as compared to 7.92% in Q1 FY25. Spread on loans is at 2.23% in Q1 FY26 as compared to 2.11% in Q1 FY25. The Retail disbursement grew by 14% YoY to Rs 4,980 with Affordable segment growth at 30% and Emerging Markets segment growth at 32% in Q1FY26. Loan asset grew by 16%YoY Rs 77,732 crore as on 30 June 2025. Retail loans grew by 18% YoY to Rs 76,923 crore as on 30 June 2025. Within Retail, Affordable Loan Asset grew by 143% YoY to Rs 5,744 crore, Emerging Markets Loan Asset grew by 20% YoY to Rs 22,701 crore and Prime segment grew by 10% YoY to Rs 48,478 crore as on 30 June 2025. Asset under management (AUM) grew by 13% YoY to Rs 82,100 crore as on 30 June 2025. Gross non-performing assets stood at 1.06% as on 30 June 2025 as compared to 1.35% as on 30 June 2024. Net NPA stood at 0.69% as on 30 June 2025. The companys CRAR stood at 29.68% as on 30 June 2025 (of which Tier I capital is 28.96% and Tier II is 0.72%) as compared to 29.50% as on 30 June 2024 (of which Tier I capital was 28.43% and Tier II was 1.07%). The company has 356 branches locations as on 30 June 2025 with 200 branches in Affordable segment, 80 in Emerging Markets segment and 76 in Prime segment. Girish Kousgi, managing director & CEO said: the companys focus on high-yielding business led to 30% YoY disbursement growth in the Affordable and Emerging markets segment during the quarter contributing 50% in the retail disbursement. Our asset quality continues to improve with GNPA of 1.06 % as on June 30, 2025. While maintaining a balance between growth and profitability, our ROA stood at 2.57% annualised for FY 25-26. As we look forward, we are confident of our ability to achieve our stated guidance for the fiscal year. PNB Housing Finance is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The companys asset base comprises primarily of retail loans and corporate loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. In addition, it also provides loan against properties and loans for purchase & construction of non-residential premises. PNB Housing Finance is a deposit taking Housing Finance Company. The scrip rose 0.68% to currently trade at Rs 1,092.75 on the BSE.
Business Upturn
22-07-2025
- Business
- Business Upturn
Aavas Financiers Ltd. Hosts PMAY Urban 2.0 Customer Felicitation & Green Home Certificate Distribution Ceremony in Udaipur
By Business Wire India Published on July 22, 2025, 10:50 IST Aavas Financiers Ltd ., a leading name in affordable housing finance, proudly hosted the PMAY Urban 2.0 Customer Felicitation & Green Home Certificate Distribution Ceremony recently at Hotel Ramada, Udaipur. Business Wire India Aavas Financiers Ltd ., a leading name in affordable housing finance, proudly hosted the PMAY Urban 2.0 Customer Felicitation & Green Home Certificate Distribution Ceremony recently at Hotel Ramada, Udaipur. The event celebrated the successful homeownership journey of beneficiaries under the Pradhan Mantri Awas Yojana – Urban 2.0 and recognized their contribution to sustainable living through the distribution of Green Home Certificates. The ceremony was graced by the presence of esteemed dignitaries: Shri Kuldip Narayan , IAS , Joint Secretary, Ministry of Housing and Urban Affairs, Government of India (Board Member, National Housing Bank) Smt. Sarika Pradhan , Secretary, Social Welfare Department, Government of Sikkim (Board Member, National Housing Bank) Shri Sanjay Shukla , Managing Director, National Housing Bank Shri Prabhanjan Mohapatra , Board Member, National Housing Bank Senior Officials from the National Housing Bank The event was part of Aavas' efforts to contribute to the Government of India's 'Housing for All' initiative by providing access to formal housing finance for underserved communities in Tier 2 to Tier 4 cities. Shri Kuldip Narayan , Joint Secretary, Ministry of Housing and Urban Affairs, GoI, appreciated Aavas Financiers' Green Home initiative and called it a model worth scaling. He encouraged people to "each one, teach one" about green housing benefits and reminded housing finance institutions of their role in reaching underserved segments to maximise the impact of PMAY Urban 2.0. Shri Sanjay Shukla , Managing Director, National Housing Bank, highlighted that owning a home is a basic need and lifelong aspiration for every Indian. He stressed the importance of promoting the Green Home concept to encourage sustainable living, reduce energy costs, and protect the planet. He also urged everyone to spread awareness about PMAY Urban 2.0 within their communities. Shri Sachinder Bhinder , Managing Director & CEO, Aavas Financiers Ltd stated: 'We are honoured to partner in the nation-building initiative of PMAY (Urban) and to be a trusted enabler in the homeownership journey of thousands of families. This event is a celebration of hope, dignity, and dreams fulfilled. We also take pride in recognising our customers' commitment to eco-conscious living through Green Home Certifications, aligning with our broader goal of sustainable housing.' Through this initiative, Aavas Financiers reaffirms its commitment to making affordable and environment-friendly housing a reality for every Indian. The Green Home Certificates were awarded to encourage sustainable building practices, promote energy efficiency, and acknowledge the role of homeowners in reducing their environmental footprint. Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash Business Wire India, established in 2002, India's premier media distribution company ensures guaranteed media coverage through its network of 30+ cities and top news agencies.
The Independent
07-07-2025
- Business
- The Independent
Building affordable homes would be a powerful way to generate growth for Britain
The UK's housing sector stands on the cusp of a new era of delivery. The government's recent ambition to deliver around 300,000 new social and affordable homes is welcome, with £39 billion pledged over the next decade, a 10-year rent settlement, and the creation of a new National Housing Bank all signalling a renewed commitment to tackling one of the country's most pressing challenges. These commitments follow sustained calls from across the housing sector – including from Lloyds Banking Group – for decisive action. Over the past several years, we and many others have urged the government to set out a long-term approach to housing, backed by meaningful investment and reform. Many of the building blocks are now in place, and so the focus must shift to delivery, with the private sector and registered providers helping to turn ambition into reality. The scale of the challenge is stark. Over 165,000 children in England alone are in temporary accommodation, and social housing construction has fallen to historic lows – with affordable housing starts dropping by 39 per cent in the past year and by 92 per cent in London alone. A generation of young people, families and individuals are being denied the stable foundation needed to build secure, fulfilling lives at home and work. Changing this will require turning policy into delivery at pace, and at scale. At Lloyds, we believe business has a critical role to play. Since 2018, we've provided over £20 billion in support to the social housing sector alone. And we're going further: transforming our own legacy estate, including former offices and data centres like Pudsey in Leeds, into new social housing; working with our charity partner Crisis to end homelessness with homes; and partnering with the Prince of Wales' Homewards initiative to enable smaller, specialist housing providers to help those who need it most. Addressing these challenges is not only a moral imperative, it also presents a powerful economic opportunity. The £39 billion commitment to affordable housing goes beyond social investment, serving as a significant economic stimulus and a powerful way to generate growth. When people have a secure, affordable home, they are better able to work, save, and provide for their families, creating wealth and opportunity for themselves and their communities. The ripple effects of housing investment are felt across construction, finance, retail and public services. It empowers individuals and families, and strengthens the economy. To turn commitments into action, we believe three things should now happen, each critical to unlocking delivery at scale. First, we need to build on the momentum already underway in cities and regions across the UK to unlock more housing projects. We are increasingly seeing local and combined authorities acting as convenors, bringing together housing associations, developers, investors and communities to form delivery coalitions. With Bristol, Sheffield and Lewisham, work has started to deliver the 'Small Sites Aggregator' – a concept developed through Lloyds Banking Group's Social Housing Initiative – that will package together small parcels of brownfield land into single, investable projects on which homes will be built. There are other great examples from cities and regions across the country that show the potential for creative collaboration. The next step is to scale these models, with central government and financial services firms providing the tools, flexibility and ambition to support delivery that is locally responsive and nationally consistent. Second, we must address the growing reliance on temporary accommodation. In 2023-24, councils in England spent over £2.3 billion on temporary housing, often on provision that is costly and does not provide the long-term certainty people need to thrive. A new wave of private sector-led investment could help. One idea worth exploring is a national vehicle, funded primarily by private capital, to acquire and refurbish underused homes for use by local authorities. This could reduce costs, improve housing quality, and create a pipeline of homes that could later transition into permanent social housing. Addressing this challenge now is critical to avoid it becoming a long-term feature of the UK's housing system. Third, we need targeted policy reform to unlock further investment and delivery. This means building on the Government's announcements to date and ensuring housing remains a viable, attractive proposition to commercial investors. Using the UK's new fiscal framework to crowd in private capital, providing income guarantees to make social housing projects more viable, and using benefits savings from moving people from the private rented sector to social housing to build new homes – these are all practical, achievable steps. Planning reforms, investment in skills, and support for local authorities so they have the capacity they need to develop and run housing programmes at scale are also critical. The UK's housing challenge is complex. But progress is possible. With the right leadership, policy and partnerships, together we can deliver the most significant expansion of social and affordable housing in decades – with lasting impact for communities across the UK. Charlie Nunn is the CEO of the Lloyds Banking Group. The Independent's Brick by Brick campaign, in partnership with Refuge, is helping to build innovative, safe homes that welcome survivors of domestic abuse. All donations received will be spent on Refuge's lifesaving work housing survivors of domestic abuse, and help to rebuild lives, brick by brick. The national domestic abuse helpline offers support for women on 0808 2000 247, or you can visit the Refuge website. There is a dedicated men's advice line on 0808 8010 327.
Hindustan Times
30-06-2025
- Business
- Hindustan Times
Mumbai's housing affordability is at a 15-year high, but homeownership still remains out of reach for most buyers
Mumbai's affordability may be at its best in 15 years, but homeownership remains out of reach for most buyers. Even high-income earners face steep challenges, according to a National Housing Bank (NHB) analysis, it would take the top 5% of urban households in the financial capital over 109 years of savings to purchase an average home in the city, highlighting the severe affordability crisis. Mumbai real estate market update: Affordability may be at its best in 15 years, but homeownership remains out of reach for most buyers. (Picture for representational purposes only)(Mehul R Thakkar/HT) A recent Knight Frank India report highlights that Mumbai has reached its best affordability level in 15 years. However, this has not translated into real accessibility. It noted that the average Mumbai household spends 48% of its income on monthly home loan repayments, a slight improvement from 50% last year, but still significantly higher than in other major Indian metros. This is the first time in the index's history that Mumbai has fallen below the 50% mark, which is considered the outer point of affordability. Mumbai's market, which has always been above the threshold, has now become more affordable due to reduced home loan rates, the Knight Frank India report said. However, despite this, experts say that affordability remains far off. Also Read: Housing affordability: Ahmedabad, Pune, and Kolkata lead as Mumbai sees improvement Definition of affordable housing in India As per government standards set in 2017, a residential unit with a carpet area of 60 square metres in metros and 90 square metres in non-metros and a value below ₹ 45 lakh falls under the category of 'affordable housing'. However, real estate body CREDAI has been demanding that the cap on affordable housing be increased from ₹ 45 lakh to ₹ 75- ₹ 80 lakh and suggested that 1% GST be charged on under-construction housing units priced in the range of ₹ 75 to ₹ 80 lakh. "The supply of affordable housing has not decreased. Units of 60 sq meters and 90 sq meters are still constructed, but their prices have gone beyond the cap. CREDAI will run a campaign to redefine this cap. This will ease the burden on customers because they will pay only 1 per cent GST instead of 5 per cent if a unit falls under the affordable category," Shekhar Patel, CREDAI President, told reporters in April 2025. Also Read: Mumbai Real Estate: Developers waive floor-rise premiums to attract buyers amid surging inventory What ₹ 45 lakh can get you in Mumbai? Mumbai's real estate market is the most expensive in the country, and purchasing a home in the financial capital is a dream come true for many homebuyers, considering that apartments cost as much as ₹ 20,000 per sq ft to ₹ 3 lakh per sq ft. According to real estate consultants, with a ₹ 50 lakh budget, a 1 BHK apartment can be purchased in Mira Road, Vasai, Virar, Thane, Kalyan, Dombivali, Panvel, which are considered to be in the Mumbai Metropolitan Region (MMR) but do not fall in the city limits of Mumbai. 'Homebuyers can still find compact 2BHK options in areas like Titwala, Ambernath, Karjat, and Neral. However, within Mumbai city limits, ₹ 50 lakh would barely fetch a 1RK (Room-Kitchen) studio apartment in the suburbs, and even those are increasingly hard to come by,' said Piyush Doshi, a real estate consultant based in Mumbai's western suburbs. In the Mumbai real estate market, nearly 80% of the properties registered annually are in the up to ₹ 2 crore price range, according to the property registration data of the Maharashtra government collated by Knight Frank India, released in December 2024. According to Mumbai's property registration data, the city registered 1.14 lakh properties in the first 11 months of the calendar year 2023. Out of these 1.14 lakh properties, over 94,000, or over 82%, were registered in the up to ₹ 2 crore price range, followed by over 12% in the ₹ 2 crore to ₹ 5 crore price range and over 4% in the above ₹ 5 crore price range. In 2024, 1.28 lakh properties were registered, which is 12% more than in 2023. Out of the total 1.28 lakh property registrations, 1.01 lakh, or 78%, were in the up to ₹ 2 crore price range, followed by over 15% in ₹ 2 crore to ₹ 5 crore range and the balance over 5% in ₹ 5 crore and above range. Also Read: Housing sales drop by 19% across nine cities, and supply dips by 30%.; Mumbai sees steepest decline: Report Should a family with a monthly income of ₹ 3 lakh take a ₹ 2 crore home loan? According to experts, those with a monthly income of ₹ 3 lakh should purchase an apartment in the range of ₹ 1 crore to ₹ 1.25 crore if the purchase is heavily dependent on a home loan. "If we consider ₹ 3 lakh as monthly family income, wherein husband and wife both earn ₹ 1.50 lakh each monthly. Assuming they purchase a ₹ 2 crore apartment on a 100% home loan, their monthly EMI will be around ₹ 1.75 lakh. This is more than 50% of the family's monthly income, and not advisable," said Viraj Modia, a chartered accountant based in Mumbai. "The couple should rather take a home loan not more than ₹ 1.25 lakh, which will keep their monthly home loan EMI around ₹ 1 lakh, and keep a buffer for investments, savings, monthly expenses," Modi said.
