PNB Housing Finance on Saturday said it plans to raise capital to the tune of Rs 5,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

The company’s board of directors will meet on June 22 and are to consider and approve the issuance of the debentures.

“The company’s board of directors is scheduled to be held on Thursday inter alia to consider and approve the issuance of non–convertible debentures aggregating up to Rs 5,000 crore on a Private Placement Basis,” said PNB Housing Finance in its regulatory filing.

PNB Housing Finance is a deposit-accepting housing finance company, with the second largest deposits outstanding within housing finance companies.

PNB Housing Finance in its Q4FY23 results, reported a consolidated net profit of Rs 279 crore, registering a growth of 64.7 per cent compared with Rs 170 crore in the corresponding period last year.

The company’s net interest income for the January-March quarter came in at Rs 627 crore, posting a rise of 27 per cent, compared with Rs 494.7 crore in the year-ago period.

Revenue from operations for Q4FY23 came in at Rs 1,635.71 crore, registering a growth of 14.71 per cent, compared with Rs 1,425.83 crore in the same period last year.

The disbursements during FY23 grew 33 per cent year-on-year to Rs 14,965 crore. For Q4 FY23 stood at Rs 4,495 crore, registering an increase of 22 per cent year-on-year, according to a filing by the company to the stock exchanges.

Gross non-performing assets declined by 430 bps to 3.83 per cent as on March 31 compared with 8.13 per cent in the corresponding quarter last year.

Retail GNPA declined by 133 bps to 2.57 per cent in the fourth quarter, compared with 3.89 per cent in the year-ago period.

On Friday, the board of Kotak Mahindra Bank approved a proposal to raise Rs 7,000 crore through the issue of non-convertible debentures (NCDs) on a private placement basis.

Recently SBI also announced that it will mobilise up to Rs 50,000 crore in this financial year in debt from both the domestic and overseas markets. Its board had cleared a proposal to raise the funds through various instruments such as long-term bonds, and additional Tier 1 and Tier II bonds.

Earlier this week, HDFC had raised Rs 10,000 crore through the issue of non-convertible debentures (NCDs) on a private placement basis to shore up its resources.