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PNB Housing Finance Results: Latest Quarterly Results & Analysis

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PNB Housing Finance Ltd. 28 Oct 2025 11:29 AM
Result PDF

Q2FY26 Quarterly Result Announced for PNB Housing Finance Ltd.

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

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

PNB Housing Finance announced Q1FY24 results:

  • Company completed its Rights Issue of Rs 2,493.76 crore in May 2023. The issue was subscribed by around 1.21 times.
  • Retail Loan Assets grew by 11% YoY to Rs 56,978 crore as on 30th June 2023, which is 94% of Loan Asset
  • Loan Asset crossed Rs 60,000 crore mark to Rs 60,395 crore as of 30th June 2023 registering 5% growth YoY
  • Gross NPA declined by 259 bps to 3.76% as on 30th June 2023 as compared to 6.35% as on 30th June 2022
    • Retail GNPA declined by 124 bps to 2.49% as on 30th June 2023 as compared to 3.73% as on 30th June 2022
  • Affordable segment presence expanded to 88 branches & outreaches as on 30th June 2023
  • Capital Risk Adequacy Ratio stood at 29.93% as on 30th June 2023; Tier I at 28.15%
  • Care Ratings has upgraded the outlook on various financial facilities/instruments to ‘Positive’ from ‘Stable’ in Jun’23 and reaffirmed the rating at CARE AA.
  • Profit after Tax increased by 48% YoY and 24% QoQ to Rs 347 crore.
  • Highest ever Return on Asset in a decade by the Company at 2.07% in Q1FY23 as compared to 1.61% in FY23
  • Net Interest Income improved by 70% YoY and 6% QoQ to Rs 629 crore.
  • Operating expenditure increased by 26% YoY and 5% QoQ to Rs 150 crore.
  • Pre provision Operating Profit improved by 41% YoY and 4% QoQ to Rs 507 crore.
  • Yield at 10.59% in Q1FY24 as compared to 8.63% in Q1FY23 and 10.41% in Q4FY23.
  • Spread on loans at 2.62% in Q1FY24 as compared to 1.42% in Q1FY23 and 2.65% in Q4FY23.
  • Net Interest Margin stood at 3.86% and Gross Margin, net of acquisition cost, stood at 3.91% in Q1FY24.
  • Credit Cost at 36 bps in Q1FY24 as compared to 31 bps in Q1FY23 and 89 bps in Q4FY23.
  • PBT improved by 44% YoY and 30% QoQ to Rs 447 crore

Commenting on the performance Girish Kousgi, Managing Director & CEO said: “The first quarter of this financial year has kick-started on a positive note, as we have achieved growth across all key business and financial parameters. Owing to our ongoing efforts in the retail business, our Loan book crossed Rs 60,000 crore mark. We have also witnessed improvement in asset quality, resulting in higher profitability. This quarter the Company's annualized ROA is at 2.07%, the highest in a decade.

With the successful completion of the Rights Issue, we now possess adequate capital to fuel our growth. We are optimistic about the prevailing real estate demand, and with our focus on identified strategic objectives, we look forward to capitalizing on available market opportunities and accelerating our growth journey ahead.”

 

 

Result PDF

PNB Housing Finance announced Q4FY23 & FY23 results:

Q4FY23:

  • Profit after Tax increased by 65% YoY and 4% QoQ to Rs 279 crore.
  • Net Interest Income improved by 57% YoY and declined by 19% QoQ to Rs 593 crore. Excluding the one-off impact in Q3FY23, the NII declined by 5% QoQ
  • Operating expenditure increased by 23% YoY and 15% QoQ to Rs 143 crore
  • Pre provision Operating Profit improved by 32% YoY and declined by 22% QoQ to Rs 487 crore.
  • Spread on loans declined by 118 bps to 2.65% in Q4FY23 as compared to 3.83% in Q3FY23. There was a “one-off” of Rs 104 crore in Q3FY23. After adjusting the “one-off” the Spread declined by 43 bps. The Company has increased its lending rates by ~30 bps in April 2023 that should help in arresting the decline.
  • Net Interest Margin at 3.74% and Gross Margin, net of acquisition cost, at 3.83% in Q4FY23.

FY23:

  • Profit after Tax is at Rs 1,046 crore vs Rs 836 crore registering an increase of 25% YoY
  • Net Interest Income stood at Rs 2,346 crore compared to Rs 1,869 crore registering an increase of 26%.
  • Operating Expenditure is at Rs 520 crore vs Rs 457 crore registering an increase of 14%.
  • Pre provision Operating Profit increased by 24% to Rs 2,052 crore from Rs 1,660 crore.
  • ECL provision as on 31st Mar 2023 is Rs 1,433 crore; total provision to assets ratio at 2.42%.
  • Spread on loans stood at 2.81% compared to 2.12 % for FY22.
  • Net Interest Margin stood at 3.73% as compared to 2.80% in FY22.
  • Gross Margin, net of acquisition cost, is at 4.06% as compared to 3.16% in FY22.
  • Return on Asset is at 1.61% as compared to 1.24% in FY22.
  • Gearing, as on 31st Mar 2023, reduced to 4.87 compared 5.37 as on 31st Mar 2022
  • Return on Equity at 9.98% as compared to 8.92% for FY22

Commenting on the performance Mr. Girish Kousgi, Managing Director & CEO said "We are pleased to report that this fiscal year has been incredibly eventful for us. After 13 quarters, we have achieved the highest retail disbursement and loan asset as an outcome of our ongoing efforts to build the retail business. We have also witnessed a remarkable improvement in the asset quality which reduced by 52% YoY.

As another milestone we have successfully concluded our rights issue, which received an overwhelming response resulting in 1.21x subscription. This demonstrates the investors' confidence in the Company. The infusion of capital will enable us to capitalise on the available growth opportunities."

 

Result PDF

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