PNB Housing stock soars after NBFC resolves its NPA issue

PNB Housing share price: PNB Housing is flying high by 6.92 per cent at Rs 678.65 in early morning trading on Monday after the company resolved and fully recovered its non-corporate account of Rs 784 crore. The account was resolved through the Swiss Challenge Method on August 19, 2023.  

The company in its BSE filing said that the account had been resolved on August 19, 2023, through an ARC sale under the Swiss Challenge method as per the Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021.

The company said that as June 30, 2023, the gross NPA of the company stood at INR 2,270 crore (3.76% of loan asset) and the loan asset was Rs 60,395 crore.