PNB Housing Finance Eyes Robust Expansion in Maharashtra Region

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~Inaugurates 4 newbranches in Pune taking the total tally in Maharashtra to 13~

Pune,6January, 2017:Taking forward the commitment to widen distribution footprint and to come closer to customers, PNB Housing Finance has lined-up expansion plans for Maharashtra region, starting with the inauguration of four new branches in Pune today. The move is in line with the company’s focus to tap high-potential regionsand to garner a larger pie of the business from Western Indiafueling its business growth.

The 4 new branchesin Pune are located in Hinjewadi, Kharadi, Kondhwa and Warje. The offices were inaugurated byMr. Shaji Varghese, Business Head and GM, PNB Housing Finance Limited. With the launch of these 4 branches, the Company has further strengthened its presence in Western region, taking its branch count in Pune to 6 and in whole of Maharashtra to 13.

Speaking on the occasion, Mr. Shaji Varghese said,“Maharashtra is one of the largest real estate markets in India. Rapid industrialization has been creating demand for real estate in the region fuelled by economic growth and development. Pune as a region is seeing a real estate boom which propelled with the IT industry entering the city. The growth being witnessed today is unprecedented further giving a fillip to commercial and residential property development. The opportunities in Maharashtra, particularly in Pune, are wide and always enlarging and this shall remain a key strategic region for us in terms of expansion.”

“The strategy of opening new branches is in line with PNB Housing Finance’s primary objective to meet customer expectations, strengthen customer relationships and foster customer delight. The organization’s wide focus on ensuring highest level of customer service competency is fuelled by their ambition to be the most admired housing finance company in the country”, added Mr. Shaji Varghese.

Adding the recently addedfour new branches in Pune, PNB Housing Finance has a total of58 branches located across40 unique towns and cities. In first half of FY2016-17, the Company sanctioned loans worth INR 4,198 crore while the total retail disbursement was INR 2,783 crore through its network in West India.

As per the plan for the current fiscal, the Company is in process of opening 18 new branches across India, with a majority of these located in Western and Southern region.