PNB Housing Finance, a mortgage lender backed by General Atlantic Singapore, aims to maintain a net interest margin just below 4% and reduce the rising cost of funds. The lender expects to access cheaper funds from the National Housing Bank and a potential rating upgrade, which would lower borrowing costs.
Construction giants DLF and Shapoorji Pallonji (Chinsha Property) have taken to the Delhi high court (HC) their third partner, Mumbai-based Hubtown (formerly Ackruti), and Punjab National Bank Housing Finance Ltd (PNBHFL) after a default on a Rs800-crore loan resulted in the sale of DLF and Chinsha s stakes to a third party, says a report.