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PNB Housing Finance Results: Latest Quarterly Results & Analysis

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PNB Housing Finance Ltd. 21 Apr 2026 11:14 AM
Result PDF

Q4FY26 & FY26 Result Announced for PNB Housing Finance Ltd.

PNB Housing Finance announced Q4FY26 & FY26 results

  • Assets Under Management scaled beyond Rs 90,000 crore milestone, reaching Rs 90,921 crore as of FY26, reflecting a 13%YoY growth.
  • Retail Loan Asset grew by 16% YoY to Rs 86,946 crore as on 31st March 2026, which is 99.5% of the Total Loan Asset.
  • Affordable and Emerging Markets segment grew by 28% YoY and contributes 40% to the Retail Loan Asset.
  • Q4FY26 overall disbursements increased by 36% YoY and 50% QoQ to Rs 9,355 crore, including Rs 335 crore from the disciplined re?entry into the Corporate lending segment.
  • Retail disbursements clocked an all-time high of Rs 9,020 crore in Q4FY26.
  • Net profit for Q4FY26 grew by 19% YoY to Rs 656 crore whereas for FY26 Net Profit grew by 18% YoY to Rs 2,291 crore, led by healthy improvement in operating leverage.
  • Spread during the quarter moderated by 10 bps sequentially to 2.12% on account of softening of yield by 25 bps to 9.47% due to lower incremental yield vs book yield.
  • Our Q4FY26 cost of borrowing improved by 15 bps sequentially to 7.35%.
  • Net interest margin improved by 6 bps in Q4FY26 to 3.69% compared to 3.63% during previous quarter.
  • Achieved significant milestone on asset quality with Gross NPA reduced to <1% levels at 0.93% as on 31st March 2026.
  • Recoveries from written-off pool of Rs 332 crore in FY26 resulted in a negative credit cost of -0.45%.
  • ROA improved by 10 bps YoY to 2.66% and ROE improved by 54 bps YoY to 12.73%.
  • The total number of branches stands at 393 as on 31st March 2026, with 37 additions in FY26.
  • Capital Risk Adequacy Ratio stood at 27.26% as on 31st March 2026; Tier I at 26.89%.
  • The Board of Directors recommended a dividend of Rs 8 per equity share having face value of Rs 10/- for FY26, subject to the shareholder’s approval at the ensuing Annual General Meeting.

Ajai Shukla, Managing Director & CEO said: “FY26 marked a year of resilient and balanced growth for the Company, reflecting the strength of our strategy and focused approach. We delivered a healthy expansion in our retail loan portfolio along with sustaining robust asset quality and profitability. The continued focus on disciplined collections and portfolio management resulted in GNPA improving to sub-1% levels. Our Return on Asset improved during the year, supported by strong financial performance and prudent management practices.

The successful restart of our corporate lending business during the year represents a key strategic milestone and reinforces our confidence in calibrated, risk-aligned growth opportunities. Technology remained a critical enabler across the organisation, driving operational efficiencies and enabling a more seamless, transparent, and superior customer experience.

Aligned with our core purpose of enabling home ownership, we reached an important milestone during the year by facilitating over 5,000 subsidy benefits for our customers under the Pradhan Mantri Awas Yojana (PMAY-U 2.0). As we look ahead, we remain steadfast in our role as a responsible housing finance institution, committed to nation-building by enabling more home ownership dreams across geographies and income segments.”

Result PDF

Result PDF

PNB Housing Finance announced Q3FY26 results

  • Net profit increased by 7.7% YoY and declined by 10.5% QoQ to Rs 520 crore.
  • Pre-provision Operating profit grew by 8.4% YoY and declined by 2.9% QoQ to Rs 628 crore. Excluding the new labour code impact, pre-provision operating profit grew by 9.4% YoY and 1.9% QoQ to 634 crore.
  • Net Interest Income grew by 10.9% YoY and 0.9% QoQ to Rs 772 crore.
  • Operating expenditure increased by 16.7% YoY and 10.5% QoQ to Rs 240 crore.
  • Yield at 9.72% in Q3FY26 as compared to 9.95% in Q2 FY26 and 10.12% in Q3FY25.
  • Cost of Borrowing is at 7.50% in Q3FY26 as compared to 7.69% in Q2 FY26 and 7.83% in Q3FY25.
  • Spread on loans is at 2.22% in Q3FY26 as compared to 2.26% in Q2 FY26 and 2.29% in Q3FY25.
  • Net Interest Margin stood at 3.63% in Q3FY26 as compared to 3.67% in Q2 FY26 and 3.70% in Q3FY25. Gross Margin, net of acquisition cost, stood at 3.98% in Q3FY26.
  • With recovery from the overall written off pool, Credit Cost was -19 bps in Q3FY26 as compared to -53 bps in Q2FY26 and -19 bps in Q3FY25.
  • Business Operations:
    • The disbursements during Q3FY26 grew by 15.6% YoY and 3.7% QoQ to Rs 6,217 crore.
    • Disbursement in Affordable and Emerging Markets segment grew YoY by 11.3%, contributing around 50% of the total retail disbursements.
    • Loan Asset grew by 14.3% YoY and 3.0% QoQ to Rs 82,203 crore as on 31st Dec 2025.
      • Retail loans grew by 15.9% YoY and 3.1% QoQ to Rs 81,931 crore as on 31st Dec 2025. Within Retail, affordable Loan Asset grew by 86.0% YoY to Rs 7,140 crore, Emerging Markets Loan Asset grew by 20.3% YoY to Rs 24,998 crore and Prime segment grew by 8.1% YoY to Rs 49,793 crore as on 31st Dec 2025.
      • Corporate loan book was at Rs 272 crore as on 31st Dec 2025, reduced by 78.1% as compared to 31st Dec 2024.
    • Asset under Management (AUM) grew by 12.0% YoY and 2.6% QoQ to Rs 86,048 crore as on 31st Dec 2025.
  • Asset Quality:
    • Gross Non-Performing Assets stood at 1.04% as on 31st Dec 2025 as compared to 1.19% as on 31st Dec 2024 and 1.04% as on 30 th Sep 2025.
      • Retail GNPA is 1.04% as on 31st Dec 2025 as compared to 1.21% as on 31st Dec 2024 and 1.05% as on 30th Sep 2025.
      • Corporate GNPA stands NIL since 30th Jun 2024 till now.
    • Net NPA stood at 0.68% as on 31st Dec 2025.
  • Capital to Risk Asset Ratio (CRAR): The Company’s CRAR stood at 29.46% as on 31st Dec 2025, of which Tier I capital is 28.92% and Tier II is 0.55% as compared 28.8% as on 31st Dec 2024, of which Tier I capital was 28.0% and Tier II was 0.8%.

Ajai Shukla, Managing Director & CEO said: "As we move forward, our focus remains unwavering on strengthening our retail book with a sharper emphasis on the Affordable and Emerging Markets segment. We are committed to enhancing asset quality and sustaining profitability while ensuring responsible lending practices. Customer delight continues to be a key priority, and we are investing in solutions that simplify journeys, improve turnaround times, and deliver greater transparency for our customers.

Through operational excellence and the strategic use of technology, we aim to build a more agile, resilient, and future-ready organization. PNB Housing Finance will continue to enable homeownership across India and remain dedicated to creating long-term value for all our stakeholders."

Result PDF

Housing Finance company PNB Housing Finance announced Q2FY26 results

  • Net profit increased by 23.8% YoY and 9.0% QoQ to Rs 582 crore.
  • Pre-provision Operating profit grew by 15.6% YoY to Rs 646 crore driven by positive operating leverage.
  • Net Interest Income grew by 14.4% YoY and 0.6% QoQ to Rs 765 crore.
  • Operating expenditure increased by 7.6% YoY and 0.6% QoQ to Rs 217 crore.
  • Yield at 9.95% in Q2FY26 as compared to 9.99 % in Q1FY26 and 10.05% in Q2FY25.
  • Cost of Borrowing is at 7.69% in Q2FY26 as compared to 7.76% in Q1FY26 and 7.84% in Q2FY25.
  • Spread on loans is at 2.26 % in Q2FY26 as compared to 2.23% in Q1FY26 and 2.21% in Q2FY25.
  • Net Interest Margin stood at 3.67% in Q2FY26 as compared to 3.74% in Q1FY26 and 3.68% in Q2FY25. Gross Margin, net of acquisition cost, stood at 4.05% in Q2FY26.
  • With recovery from the overall written off pool, Credit Cost was -53 bps in Q2FY26 as compared to -27bps in Q1FY26 and -24 bps in Q2FY25
  • The disbursements during Q2FY26 grew by 12.2% YoY and 20.4% QoQ to Rs 5,995 crore.
  • Disbursement in Affordable and Emerging Markets segment grew YoY by 30.7% and 23.0% respectively, contributing 50% of the total retail disbursements.
  • Loan Asset grew by 14.8% YoY and 2.6% QoQ to Rs 79,771 crore as on 30th Sept 2025.
    • Retail loans grew by 16.9% YoY and 3.3% QoQ to Rs 79,439 crore as on 30th Sept 2025. Within Retail, affordable Loan Asset grew by 120.8% YoY to Rs 6,531 crore, Emerging Markets Loan Asset grew by 20.8% YoY to Rs 23,994 crore and Prime segment grew by 8.3% YoY to Rs 48,914 crore as on 30th Sept 2025.
    • Corporate loan book was at Rs 332 crore as on 30th Sept 2025, reduced by 78.3% as compared to 30th Sept 2024.
  • Asset under Management (AUM) grew by 12.3% YoY and 2.2% QoQ to Rs 83,879 crore as on 30th Sept 2025
  • Asset Quality:
    • Gross Non-Performing Assets stood at 1.04 % as on 30th Sept 2025 as compared to 1.24 % as on 30th Sept 2024 and 1.06% as on 30 th Jun 2025.
      • Retail GNPA is 1.05% as on 30th Sept 2025 as compared to 1.27% as on 30th Sept 2024 and 1.07% as on 30th Jun 2025.
      • Corporate GNPA stands NIL since 30th Jun 2025 till now.
  • Net NPA stood at 0.69% as on 30th Sep 2025. NNPA in Retail segment is at 0.69%
  • Capital to Risk Asset Ratio (CRAR): The Company’s CRAR stood at 29.80% as on 30th Sept 2025, of which Tier I capital is 29.21% and Tier II is 0.59% as compared 29.13% as on 30th Sept 2024, of which Tier I capital was 28.06% and Tier II was 1.07%.

Jatul Anand, Executive Director, said: “Despite the challenges posed by leadership transitions, we have delivered a strong and resilient performance across all key metrics this quarter. This outcome reflects the strength of our organizational culture—anchored in responsible leadership, collective ownership, and unwavering commitment—which enables us to maintain momentum and deliver results without disruption. Our strategic focus continues to drive profitable growth. The Retail Asset grew by 17% YoY for FY25 reaching to Rs 79,439 crore as on 30th Sept 2025. We disbursed almost Rs 6,000 crore delivering a sequential growth of 20% vs Q1FY26. Our continued emphasis on the Affordable and Emerging Markets segment has enabled us to sustain competitive spreads. This segment now constitutes 38% of the Retail Loan Asset portfolio. Our spreads improved to 2.26% in Q2FY26, up from 2.23% in Q1FY26 reflecting disciplined pricing and portfolio mix optimization. The portfolio asset quality continues to improve with Gross NPA at 1.04% as on 30th Sept 2025.

Looking ahead to FY26, we are focused on accelerating retail growth and expanding our Affordable and Emerging Markets segment footprint. Our goal is to enhance customer experience, strengthen risk frameworks, and maintain industry-leading asset quality while delivering sustainable returns. With a strong leadership team and a culture that never loses momentum, we are confident of creating long-term value for all stakeholders.”

Result PDF

PNB Housing Finance announced Q1FY26 results

  • Net profit increased by 23% YoY and declined by 3% QoQ to Rs 534 crore.
  • Net Interest Income grew by 17% YoY and 4% QoQ to Rs 760 crore.
  • Operating expenditure grew by 12% YoY and 2% QoQ to Rs 216 crore.
  • Pre-provision operating profit grew by 17% YoY and declined by 2% QoQ to Rs 632 crore.
  • Yield at 9.99% in Q1FY26 as compared to 10.03% in Q4FY25 and Q1FY25.
  • Cost of Borrowing is at 7.76% in Q1FY26 as compared to 7.84% in Q4FY25 and 7.92% in Q1FY25.
  • Spread on loans is at 2.23% in Q1FY26 as compared to 2.19% in Q4FY25 and 2.11% in Q1FY25.
  • Net Interest Margin stood at 3.74% in Q1FY26 as compared to 3.75% in Q4FY25 and 3.65% in Q1FY25. Gross Margin, net of acquisition cost, stood at 4.06% in Q1FY26.
  • With recovery from write-off pool, Credit Cost was -27 bps in Q1FY26 as compared to -32 bps in Q4FY25 and -7 bps in Q1FY25.
  • Business Operations:
    • In Apr’25, 20 branches are reclassified from Prime segment to Emerging Markets segment and segment numbers are re-casted for prior period to ensure like to like comparison.
    • The disbursements during Q1FY26 grew by 13% YoY to Rs 4,980 crore.
      • Retail disbursement grew by 14% YoY to Rs 4,980 with Affordable segment growth at 30% and Emerging Markets segment growth at 32% during Q1FY26.
    • Loan Asset grew by 16% YoY and 3% QoQ to Rs 77,732 crore as on 30 th June 2025.
      • Retail loans grew by 18% YoY and 3% QoQ to Rs 76,923 crore as on 30 th 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 th June 2025.
      • Corporate loans are at Rs 809 crore as on 30th June 2025, reduced by 56% YoY.
    • Asset under Management (AUM) grew by 13% YoY and 2% QoQ to Rs 82,100 crore as on 30th June 2025.
  • Distribution and Service Network: The Company has 356 branches locations as on 30th June 2025 with 200 branches in Affordable segment, 80 in Emerging Markets segment and 76 in Prime segment.
  • Asset Quality:
    • Gross Non-Performing Assets stood at 1.06% as on 30th June 2025 as compared to 1.35% as on 30 th June 2024 and 1.08% as on 31 st Mar 2025.
      • Retail GNPA is 1.07% as on 30th June 2025 as compared to 1.39% as on 30th June 2024 and 1.09 % as on 31 st Mar 2025.
      • Corporate GNPA stands Nil as on 30th June 2025, 30th June 2024 and 31st Mar 2025.
    • Net NPA stood at 0.69% as on 30 th June 2025. NNPA in Retail segment is at 0.70%.
  • Capital to Risk Asset Ratio (CRAR): The Company’s CRAR stood at 29.68% as on 30th June 2025, of which Tier I capital is 28.96 % and Tier II is 0.72 % as compared to 29.50% as on 30th June 2024, of which Tier I capital is 28.43% and Tier II is 1.07%.

Girish Kousgi, Managing Director & CEO said: “The Company’s 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 FY26. As we look forward, we are confident of our ability to achieve our stated guidance for the fiscal year.

Result PDF

Housing Finance company PNB Housing Finance announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Net profit increased by 25.0% YoY and 14.0% QoQ to Rs 550 crore
  • Net Interest Income grew by 16.2% YoY and 5.5% QoQ to Rs 734 crore.
  • Operating expenditure grew by 18.2% YoY and 2.6% QoQ to Rs 208 crore
  • Pre-provision operating profit grew by 14.1% YoY and 11.5% QoQ to Rs 646 crore
  • Yield at 10.03% in Q4FY25 as compared to 10.12% in Q3FY25 and 10.08% in Q4FY24
  • Cost of Borrowing is at 7.84% in Q4FY25 as compared to 7.83% in Q3FY25 and 7.98% in Q4FY24
  • Spread on loans is at 2.19% in Q4FY25 as compared to 2.29% in Q3FY25 and 2.10% in Q4FY24
  • Net Interest Margin stood at 3.75% in Q4FY25 as compared to 3.70% in Q3FY25 and 3.65% in Q4FY24. Gross Margin, net of acquisition cost, stood at 4.27% in Q4FY25
  • With recovery from write-off pool, Credit Cost was -32 bps in Q4FY25 as compared to -19 bps in Q3FY25 and 4 bps in Q4FY24

FY25 Financial Highlights:

  • Disbursement grew by 25% YoY to Rs 21,972 crore during FY25. In Q4FY25, disbursements grew by 23% YoY and 27% QoQ to Rs 6,854 crore.
  • Affordable and Emerging Market segment contributed 40% to the retail disbursement in Q4FY25.
  • Gross NPA declined by 42 bps to 1.08% as on 31 st Mar 2025 as compared to 1.50% as on 31 st Mar 2024.
  • Recovery from written-off pool continues with total recovery of Rs 336 crore in FY25
  • Profit after Tax for FY25 is at Rs 1,936 crore vs Rs 1,508 crore registering an increase of 28% YoY
  • Capital Risk Adequacy Ratio stood at 29.38% as on 31 st Mar 2025; Tier I stood at 28.39%.
  • The Board of Directors recommended a dividend of Rs 5 per equity share having face value of Rs 10/- for FY25, subject to the shareholder’s approval at the ensuing Annual General Meeting.

Commenting on the performance Girish Kousgi, Managing Director & CEO said: "During the Financial Year 2024-25, the Company delivered strong performance across multiple parameters and surpassed its stated guidance for the year on growth, asset quality and profitability. The Retail Loan Asset grew by 18.2% YoY to Rs 74,802 crore as on 31st March 2025, which was supported by growth in the Affordable and Emerging Markets segment. The Affordable segment Loan Asset crossed a significant milestone of Rs 5,000 crore during the year. With focus on collections across buckets, the Gross NPA improved to 1.08% as on 31st Mar 2025 as compared to 1.50% as on 31st March 2024. On the back of strong business and financial performance, the RoA increased by 35 bps 2.55% for FY2024-25. This remarkable progress is a testimony of our unwavering commitment to empowering individuals and families in their journey towards owning a home. As we progress, we will continue to focus on profitable growth while sustaining the Asset Quality."

Result PDF

Housing Finance company PNB Housing Finance announced 9MFY25 & Q3FY25 results

Q3FY25 Financial Highlights:

  • Net profit increased by 42.8% YoY and 2.9% QoQ to Rs 483.3 crore.
  • Net Interest Income grew by 17.0% YoY and 4.1% QoQ to Rs 695.7 crore. The Net Interest Income for Retail segment grew by 17.4% YoY.
  • Operating expenditure grew by 22.3% YoY and 1.9% QoQ to Rs 202.6 crore.
  • Pre provision operating profit grew by 16.1% YoY and 3.7% QoQ to Rs 579.5 crore.
  • Yield at 10.12% in Q3FY25 as compared to 10.05% in Q2FY25 and 10.19% in Q3FY24.
  • Cost of Borrowing is at 7.83% in Q3FY25 as compared to 7.84% in Q2FY25 and 8.07% in Q3FY24.
  • Spread on loans is at 2.29% in Q3FY25 as compared to 2.21% in Q2FY25 and 2.12% in Q3FY24.
  • Net Interest Margin stood at 3.70% in Q3FY25 as compared to 3.68% in Q2FY25 and 3.49% in Q3FY24. Gross Margin, net of acquisition cost, stood at 4.07% in Q3FY25.
  • With recovery from retail written off pool, Credit Cost was -19 bps in Q3FY25 as compared to -24 bps in Q2FY25 and 34 bps in Q3FY24

9MFY25 Financial Highlights:

  • Net profit increased by 29.7% YoY to Rs 1,385.8 crore.
  • Net Interest Income grew by 7.0% YoY to Rs 2,015.3 crore. The Net Interest Income for Retail segment grew by 12.4% YoY.
  • Operating expenditure increased by 22.5% YoY to Rs 591.3 crore.
  • Pre provision operating profit grew by 7.8% YoY to Rs 1,680.9 crore.
  • Yield at 10.07% in 9MFY25 as compared to 10.45% in 9MFY24.
  • Cost of Borrowing is at 7.86% in 9MFY25 as compared to 8.03% in 9MFY24.
  • Spread on loans is at 2.21% in 9MFY25 as compared to 2.42% in 9MFY24.
  • Net Interest Margin stood at 3.67% in 9MFY25 as compared to 3.77% in 9MFY24. Gross Margin, net of acquisition cost, stood at 4.06% in 9MFY25.
  • With recovery from retail written off pool, Credit Cost was -17 bps in 9MFY25 as compared to 32 bps in 9MFY24.
  • ROA improved by 40 bps on YoY basis at 2.48% in 9MFY25 (annualized).
  • ROE is at 11.81% (annualized) for 9MFY25.

Other Highlights:

  • The disbursements during Q3FY25 grew by 29.9% YoY and 0.7% QoQ to Rs 5,380 crore o Retail Segment grew by 30.9% YoY and 0.7% QoQ to Rs 5,380 crore.
  • Loan Asset grew by 15.4%YoY and 3.5% QoQ to Rs 71,917 crore as on 31 st Dec 2024.
    • Retail loans grew by 17.5% YoY and 4.0% QoQ to Rs 70,676 crore as on 31 th Dec 2024. Within Retail, Affordable Loan Asset grew by 234.0% YoY to Rs 3,838 crore, Emerging Markets Loan Asset grew by 23% YoY to Rs 13,169 crore and Prime segment grew by 11% YoY to Rs 53,669 crore as on 31 st Dec 2024.
    • Corporate loans are at Rs 1,241 crore as on 31 st Dec 2024, reduced by 43.8% as compared to 31 st Dec 2023.
  • Asset under Management (AUM) grew by 12.1% YoY and 2.8% QoQ to Rs 76,840 crore as on 31 st Dec 2024
  • Asset Quality:
    • Gross Non-Performing Assets stood at 1.19% as on 31 st Dec 2024 as compared to 1.24% as on 30th Sep 2024 and 1.73% as on 31 st Dec 2023
    • Retail GNPA is 1.21% as on 31 st Dec 2024 as compared to 1.27% as on 30th Sep 2024 and 1.67% as on 31 st Dec 2023.
    • Corporate GNPA stands Nil as on 31 st Dec 2024 and 30th Sep 2024 as compared to 3.35% as on 31 st Dec 2023.
  • Net NPA stood at 0.80% as on 31 st Dec 2024. NNPA in Retail segment is at 0.81%

Girish Kousgi, Managing Director & CEO said: “The Company delivered on its growth and profitability parameters with Retail segment growth at 17.5% and Return on Asset at 2.48% (annualised) for 9MFY25. Our affordable segment is performing well and has delivered robust disbursement growth of 127% YoY to Rs 920 crore during the quarter. The portfolio asset quality continues to improve with Gross NPA at 1.19% as on 31 st Dec 2024. The Company received NHB refinance sanction of Rs 5,000 crore and another ECB sanction of USD 100 million in Q3FY25. The Company has signed an MoU with NHB under Pradhan Mantri Aawas Yojna Urban 2.0 to support the eligible beneficiaries under Interest Subsidy scheme. The Company with Affordable and Emerging Markets segment and pan India presence is well placed to tap the available opportunity”

Result PDF

Housing Finance  company PNB Housing Finance announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highights:

  • Net profit increased by 22.6% YoY and 8.5% QoQ to Rs 469.7 crore.
  • Net Interest Income grew by 1.2% YoY and 2.7% QoQ to Rs 668.6 crore; lower growth in NII is due to declining impact of Corporate book. The Net Interest Income for Retail segment grew by 13% YoY.
  • Operating expenditure increased by 18.6% YoY and 4.7% QoQ to Rs 198.8 crore.
  • Yield at 10.05% in Q2FY25 as compared to 10.03% in Q1 FY25 and 10.58% in Q2FY24.
  • Cost of Borrowing is at 7.84% in Q2FY25 as compared to 7.92% in Q1 FY25 and 7.99% in Q2FY24.
  • Spread on loans is at 2.21% in Q2FY25 as compared to 2.11% in Q1 FY25 and 2.59% in Q2FY24.
  • Net Interest Margin stood at 3.68% in Q2FY25 as compared to 3.65% in Q1 FY25 and 3.95% in Q2FY24. Gross Margin, net of acquisition cost, stood at 4.09% in Q2FY25.
  • With recovery from retail written off pool, Credit Cost was -24 bps in Q2FY25 as compared to -7bps in Q1 FY25 and 26bps in Q2FY24

H1FY25 Financial Highights:

  • Net profit increased by 23.6% YoY to Rs 902.5 crore.
  • Net Interest Income grew by 2.35% YoY to Rs 1,319.6 crore; lower growth in NII is due to declining impact of Corporate book. The Net Interest Income for Retail segment grew by 11.3% YoY.
  • Operating expenditure increased by 12.5% YoY to Rs 388.8 crore • Yield at 10.04% in H1FY25 as compared to 10.59% in H1FY25.
  • Cost of Borrowing is at 7.88% in H1FY25 as compared to 7.99% in H1FY25.
  • Spread on loans is at 2.16% in H1FY25 as compared to 2.60% in H1FY25.
  • Net Interest Margin stood at 3.66% in H1FY25 as compared to 3.92% in H1FY25. Gross Margin, net of acquisition cost, stood at 4.06% in H1FY25.
  • With recovery from retail written off pool, Credit Cost was -16 bps in H1FY25 as compared to 31bps in H1FY25.
  • ROA improved by 31 bps on YoY basis at 2.45% in H1FY25 (annualized).
  • ROE is at 11.7% (annualized) for H1FY25

Other Highlights:

  • The disbursements during Q2FY25 grew by 27.8% YoY and 21.5% QoQ to Rs 5,341 crore.
    • Retail Segment grew by 28.2% YoY and 22.4% QoQ to Rs 5,341 crore.
  • Loan Asset grew by 14.2%YoY and 3.8% QoQ to Rs 69,501 crore as on 30 th Sept 2024.
    • Retail loans grew by 16.2% YoY and 4.3% QoQ to Rs 67,970 crore as on Q2FY25. Within Retail, affordable.
    • Loan Asset grew by 297% YoY to Rs 2,959 crore, Emerging Markets Loan Asset grew by 22% YoY to Rs 12,545 crore and Prime segment grew by 10.7% YoY to Rs 52,466 crore as on Q2FY25.
    • Corporate loans are at Rs 1,531 crore as on Q2FY25, reduced by 35.7% as compared to Q2FY24.
  • Asset under Management (AUM) grew by 10.8% YoY and 3.0% QoQ to Rs 74,724 crore as on Q2FY25.
  • The Company has 303 branches / outreach locations as on Q2FY25:
    • Affordable business presence in 160 branches.
    • Dedicated 50 branches for Emerging Segment.
    • 93 branches for Prime segment.
  • Gross Non-Performing Assets stood at 1.24% as on Q2FY25 as compared to 1.78% as on Q2FY24 and 1.35% as on 30 th Jun 2024.
    • Retail GNPA is 1.27% as on Q2FY25 as compared to 1.74% as on Q2FY24 and 1.39% as on 30th Jun 2024.
    • Corporate GNPA stands Nil as on Q2FY25 as compared to 2.86% as on Q2FY24 and Nil as on 30 th Jun 2024.
  • Net NPA stood at 0.84% as on Q2FY25. NNPA in Retail segment is at 0.86%.

Girish Kousgi, Managing Director & CEO said: “The Company’s focussed approach led to growth across all parameters. The Retail Asset grew by 16.2% YoY inching towards our stated guidance of 17% for FY25. Our affordable segment is performing well and crossed Rs 3,000 crore in Loan Asset in October 2024. The Company registered retail disbursements growth of 28% YoY to Rs 5,341 crore during the reported quarter i.e. Q2FY25. The portfolio asset quality continues to improve with Gross NPA at 1.24% as on Q2FY25.

With the Government focus on the affordable segment (EWS and Mid income group) under PMAY-Interest Subsidy Scheme, close to 1 crore customers are expected to benefit over next 5 years. This leads to a huge opportunity for players like us with pan India presence and special focus on Affordable and Emerging Markets segment.”

Result PDF

Housing Finance company PNB Housing Finance announced Q1FY25 results:

Financial Highlights:

  • Net profit increased by 25% YoY and declined by 1.5% QoQ to Rs 433 crore
  • Net Interest Income grew by 4% YoY and 3% QoQ to Rs 651 crore
  • Operating expenditure increased by 27% YoY and 8% QoQ to Rs 190 crore
  • Yield at 10.03% in Q1FY25 as compared to 10.08% in Q4FY24 and 10.59% in Q1FY24
  • Cost of Borrowing is at 7.92% in Q1FY25 as compared to 7.98% in Q4FY24 and 7.97% in Q1FY24
  • Spread on loans is at 2.11% in Q1FY25 as compared to 2.10% in Q4FY24 and 2.62% in Q1FY24
  • Net Interest Margin stood at 3.65% in Q1FY25 as compared to 3.65% in Q4FY24 and 3.86% in Q1FY24. Gross Margin, net of acquisition cost, stood at 4.03% in Q1FY25
  • With recovery from total written off pool, Credit Cost stood at -7 bps in Q1FY25 as compared to 4 bps in Q4FY24 and 36 bps in Q1FY25

Business Highlights:

  • Disbursement grew by 19% YoY to Rs 4,398 crore; retail disbursement constitutes 99%
  • Emerging markets and affordable segment contribute 33% of the retail disbursement in Q1FY25
  • Retail Loan Asset grew by 14.4% YoY to Rs 65,157 crore as on 30th Jun 2024, which is 97.3% of
  • Loan Asset
  • Affordable book crossed Rs 2,000 crore mark; as on 30th Jun 2024 is at Rs 2,361 crore
  • Loan Asset stood at Rs 66,986 crore as on 30th Jun 2024 registering 11% growth YoY
  • Strengthened Pan India presence to 303 branches & outreaches
  • Dedicated 160 branches for Affordable segment and 50 branches for Emerging Segment
  • Gross NPA declined by 241 bps to 1.35% as on 30th Jun 2024 as compared to 3.76% as on 30th June 2023. Net NPA declined to less than 1% at 0.92% as on 30th Jun 2024
  • Resolved 1 NPA and 1 written off corporate account during the quarter
  • Recovered ~Rs 80 crore from total written-off pool in Q1FY25
  • Profit after Tax is at Rs 433 crore vs Rs 347 crore registering an increase of 25% YoY
  • Return on Asset is at 2.38% in Q1FY25 (annualized); FY24 ROA stood at 2.20%
  • Capital Risk Adequacy Ratio stood at 29.50% as on 30th Jun 2024; Tier I at 28.43%
  • CRISIL upgraded the rating to “AA ” from “AA”; Outlook “Stable”

Commenting on the performance Girish Kousgi, Managing Director & CEO said: The Company’s focus on growth, asset quality and profitability are yielding results as evidenced by the increased contribution from high-yielding segments, such as the affordable segment and emerging markets, which accounted for over 30% of retail disbursement during the quarter. Our consistent efforts have enabled us to resolve the NPA accounts, thereby reducing our total GNPA to 1.35% as on June 30, 2024.

The Government's commitment to inclusive growth is demonstrated by the expansion of the PMAY scheme, which includes the provision of 3 crore additional houses in urban and rural areas. This is a substantial stride toward the realization of the government's vision of "Housing for all." The Company is well-positioned to capitalize on this opportunity with our Pan India presence through 303 branches, including dedicated160 branches for the affordable segment.”

Result PDF

Housing Finance company PNB Housing Finance announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Net profit increased by 57% YoY and 30% QoQ to Rs 439 crore
  • Net Interest Income grew by 7% YoY and 6% QoQ to Rs 632 crore
  • Operating expenditure increased by 23% YoY and 6% QoQ to Rs 176 crore primarily, on account of branch expansion and upgradation of IT infrastructure.
  • Yield at 10.08% in Q4FY24 as compared to 10.19% in Q3 FY24 and 10.41% in Q4FY23.
  • Cost of Borrowing at 7.98% in Q4FY24 as compared to 8.07% (excluding one-off the CoB is 7.98%) in Q3FY24 and 7.76% in Q4FY23.
  • Spread on loans is at 2.10% in Q4FY24 as compared to 2.12% in Q3FY24 and 2.65% in Q4FY23.
  • Net Interest Margin stood at 3.65% in Q4FY24 as compared to 3.49% in Q3FY24 and 3.74% in Q4FY23. Gross Margin, net of acquisition cost, stood at 4.18% in Q4FY24.
  • Credit Cost at 4 bps in Q4FY24 as compared to 34 bps in Q3FY24 and 89 bps in Q4FY23.

FY24 Financial Highlights:

  • Profit after Tax is at Rs 1,508 crore vs Rs 1,046 crore registering an increase of 44% YoY.
  • Net Interest Income stood at Rs 2,516 crore compared to Rs 2,346 crore registering a growth of 7%.
  • Operating Expenditure is at Rs 659 crore vs Rs 520 crore registering an increase of 27%.
  • Pre-provision Operating Profit stood at Rs 2,125 crore as against Rs 2,052 crore registering a growth of 4%. Excluding one off in FY23, Pre-provision Operating Profit registered a growth of 17%.
  • ECL provision as on 31st Mar 2024 is Rs 1,250 crore resulting in total provision to assets ratio at 1.91%. The Stage 3 Provision coverage ratio is at 37.4%.
  • Spread on loans stood at 2.34% compared to 2.81% for FY23.
  • Net Interest Margin stood at 3.74% as compared to 3.73% in FY23.
  • Gross Margin, net of acquisition cost, is at 4.02% as compared to 4.06% in FY23.
  • Credit cost for FY24 is at 0.25% as compared to 1.07% in FY23
  • Return on Asset is at 2.20% as compared to 1.61% in FY23.
  • Return on Equity at 10.90% as compared to 9.98% for FY23

Commenting on the performance Girish Kousgi, Managing Director & CEO said: “During the Financial Year 2023-24, the Company made significant progress across various business and financial parameters. The completion of a successful fund-raise via Rights Issue underscores the confidence of our shareholders. Moreover, our expansion into high yielding affordable segment and the growth of our retail loan book showcases our commitment towards meeting diverse market needs. With the opening of new branches, we have not only expanded our reach but also strengthened our presence in tier II & III markets. We have witnessed a remarkable improvement in the asset quality, which reduced by 57% year-on-year. As we move ahead, we look forward with optimism that our fundamentals position us well to achieve the desired growth and profitability.”

Result PDF

PNB Housing Finance announced Q2FY24 results:

1. Financial Performance:
- Gross NPA declined by 197 bps to 1.78% as on 30th September 2023.
- Net Interest Income improved by 2% YoY and 5% QoQ to Rs 661 crore.
- Retail GNPA declined by 74 bps to 1.74% as on 30th September 2023.
- Resolved and fully recovered a large Corporate NPA account reducing Corporate GNPA to 2.86%.
- Total Loan Asset stood at Rs 60,852 crore as on 30th September 2023.

2. Business Operations:
- Total disbursements during H1 FY24 grew by 12% YoY to Rs 7,866 crore.
- Retail disbursement grew by 13% YoY to Rs 7,832 crore during H1 FY24.
- Affordable segment contributed ~9% to retail disbursement in Q2 FY23-24.
- Asset under Management (AUM) grew by 2% YoY to Rs 67,415 crore.
- Retail loans grew by 12% YoY to Rs 58,471 crore as on 30th September 2023.

3. Capital and Ratings:
- The Company's CRAR stood at 30.38% as on 30th September 2023.
- ICRA & CRISIL have upgraded the outlook to 'Positive' and reaffirmed the rating at "AA" in Q2 FY24.

4. Earnings and Profitability:
- Net profit after tax improved by 46% YoY and 10% QoQ to Rs 383 crore.
- PAT improved by 46% YoY and 10% QoQ to Rs 383 crore.
- Return on Asset (annualized) is at 2.14% as compared to 1.61% in FY23.
- Return on Equity (annualized) at 11.11% as compared to 9.98% for FY23.

Commenting on the performance Mr. Girish Kousgi, Managing Director & CEO said: “During the first half of the financial year, we have witnessed progress across key business parameters like Growth, Asset Quality and Profitability. Our consistent efforts have enabled us to resolve and fully recover a large corporate account, which further aided in reducing our GNPA below 2% to 1.78% as on 30th Sept 2023. We have also made significant progress in our affordable housing portfolio over the last 3 quarters, and are on track to meet our commitments. Our ROA stood at 2.14% annualised for FY23-24.

As we look forward, we are confident of our ability to maintain this momentum and continue the growth trajectory in the fiscal year. We will continue to strive for excellence, leverage available market opportunities and work towards achieving stronger performance.”

 

 

Result PDF

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