PNBHOUSING - PNB Housing Finance Limited Share Price

Finance

₹1052.00+41.80(+4.14%)

Market Closed as of May 2, 2025, 15:30 IST

What does PNB Housing Finance Limited do?

Housing Finance Company•Financial Services•Small Cap

PNB Housing Finance Limited operates as a housing finance company in India. It provides loans to individuals and corporate bodies for purchase, construction, repair, and up-gradation of houses/flats/commercial properties; residential plot loans and loans for NRIs; loan against property, lease rental discounting, and loans for real estate developers; home loans and fixed deposit products. PNB Housing Finance Limited was incorporated in 1988 and is based in New Delhi, India.

Industry Group:Finance

Employees:2,003

Website:www.pnbhousing.com

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Category	PNBHOUSING	Finance
PE	13.56	17.56
PS	3.41	3.80
Growth	9 %	5.9 %

Income Statement for PNB Housing Finance

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	8.7%	7,665	7,050	6,527	6,196	7,604	8,482
Other Income	316%	26	7.01	2.33	4.8	20	7.71
Total Income	9%	7,692	7,057	6,530	6,201	7,624	8,490
Employee Expense	25%	421	337	266	217	211	233
Finance costs	6.8%	4,551	4,261	3,899	4,064	5,100	5,875
Depreciation and Amortization	10%	56	51	51	53	59	66
Other expenses	19.3%	322	270	250	195	173	244
Total Expenses	2%	5,206	5,103	5,169	5,117	6,417	7,679
Profit Before exceptional items and Tax	27.2%	2,486	1,954	1,361	1,084	1,207	811
Total profit before tax	27.2%	2,486	1,954	1,361	1,084	1,207	811
Current tax	34.8%	570	423	88	249	413	389
Deferred tax	-196.4%	-20.2	23	227	-1.67	-136.12	-224.47
Total tax	23.4%	550	446	315	247	277	165
Total profit (loss) for period	28.4%	1,936	1,508	1,046	836	930	646
Other comp. income net of taxes	-309.6%	-69.66	-16.25	77	97	-20.69	-55.3
Total Comprehensive Income	25.1%	1,866	1,492	1,123	934	909	591
Earnings Per Share, Basic	28.2%	74.52	58.37	62.01	49.64	55.29	38.45
Earnings Per Share, Diluted	28.1%	74.25	58.2	61.95	49.53	55.26	38.41
Debt equity ratio	0%	0.037	0.0369	-	-	0	-
Debt service coverage ratio	-	-	-	-	-	0	-
Interest service coverage ratio	-	-	-	-	-	0	-

Description	(%) Q/Q	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023
Revenue From Operations	4.1%	2,022	1,942	1,879	1,823	1,810	1,755
Other Income	3900%	15	1.35	0.98	9.02	4.02	1.25
Total Income	4.8%	2,037	1,943	1,880	1,832	1,814	1,756
Employee Expense	7.2%	105	98	109	109	91	81
Finance costs	1.7%	1,178	1,158	1,118	1,097	1,070	1,087
Depreciation and Amortization	0%	14	14	14	13	14	13
Other expenses	-2.2%	88	90	76	67	71	72
Total Expenses	-0.1%	1,326	1,327	1,275	1,278	1,254	1,316
Profit Before exceptional items and Tax	15.4%	711	616	605	554	560	440
Total profit before tax	15.4%	711	616	605	554	560	440
Current tax	28.5%	168	131	125	146	134	114
Deferred tax	-2861.3%	-7.56	1.31	10	-24.24	-13.62	-12.16
Total tax	22.1%	161	132	135	121	121	102
Total profit (loss) for period	13.9%	550	483	470	433	439	338
Other comp. income net of taxes	-440.5%	-41.86	-6.93	-3.85	-17.02	-2.51	-5.36
Total Comprehensive Income	6.9%	509	476	466	416	437	333
Earnings Per Share, Basic	14.7%	21.18	18.6	18.08	16.66	16.91	13.04
Earnings Per Share, Diluted	14.7%	21.1	18.53	18.02	16.61	16.86	13
Debt equity ratio	0%	0.037	0.0366	0	0	0.0368	0

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	8.8%	7,633	7,014	6,491	6,141	7,565	8,478
Other Income	200%	28	10	1.84	4.83	19	7.6
Total Income	9.1%	7,661	7,024	6,492	6,146	7,584	8,486
Employee Expense	24.7%	329	264	214	180	176	195
Finance costs	6.8%	4,553	4,262	3,900	4,066	5,099	5,875
Depreciation and Amortization	10%	56	51	51	53	59	66
Other expenses	27.4%	373	293	260	199	194	266
Total Expenses	2.2%	5,165	5,052	5,126	5,083	6,397	7,661
Profit Before exceptional items and Tax	26.6%	2,496	1,972	1,367	1,063	1,187	825
Total profit before tax	26.6%	2,496	1,972	1,367	1,063	1,187	825
Current tax	34.8%	567	421	83	243	408	366
Deferred tax	-195.3%	-19.96	23	227	-1.71	-146.46	-223.63
Total tax	23.3%	547	444	311	241	262	143
Total profit (loss) for period	27.7%	1,949	1,527	1,056	822	925	682
Other comp. income net of taxes	-306.1%	-69.83	-16.44	77	97	-21.25	-55.69
Total Comprehensive Income	24.4%	1,879	1,511	1,133	919	904	627
Earnings Per Share, Basic	27.4%	75.02	59.12	62.62	48.78	55.01	40.6
Earnings Per Share, Diluted	27.3%	74.74	58.94	62.56	48.67	54.98	40.55
Debt equity ratio	-	-	0.0369	0.049	0.0541	0.0673	0.0861
Debt service coverage ratio	-	-	0	0	0	0	0.011
Interest service coverage ratio	-	-	0	0	0	0	0.0128

Description	(%) Q/Q	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023
Revenue From Operations	5.6%	2,030	1,923	1,868	1,813	1,801	1,748
Other Income	1138.9%	15	2.13	1.53	9.48	5.02	3.42
Total Income	6.2%	2,045	1,925	1,869	1,822	1,806	1,751
Employee Expense	5.1%	84	80	82	84	70	63
Finance costs	1.7%	1,178	1,158	1,119	1,097	1,070	1,087
Depreciation and Amortization	0%	14	14	14	13	14	13
Other expenses	1%	103	102	90	76	77	81
Total Expenses	-0.3%	1,318	1,322	1,262	1,263	1,240	1,306
Profit Before exceptional items and Tax	20.6%	727	603	607	559	566	445
Total profit before tax	20.6%	727	603	607	559	566	445
Current tax	28.5%	168	131	124	144	136	111
Deferred tax	-9166.7%	-7.34	0.91	11	-24.05	-13.59	-12.35
Total tax	21.4%	160	132	135	120	122	99
Total profit (loss) for period	20.4%	567	471	472	439	444	347
Other comp. income net of taxes	-439.1%	-42.02	-6.98	-3.88	-16.95	-2.68	-5.29
Total Comprehensive Income	13.2%	525	464	468	422	441	341
Earnings Per Share, Basic	21.5%	21.82	18.14	18.16	16.89	17.09	13.35
Earnings Per Share, Diluted	21.5%	21.74	18.07	18.1	16.84	17.04	13.31
Debt equity ratio	-	-	0.0367	0.04	0.0363	0.0369	0.0366

Balance Sheet for PNB Housing Finance

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	2.3%	2,097	2,050	2,142	3,919	3,667	3,151
Property, plant and equipment	17.4%	82	70	66	65	132	68
Capital work-in-progress	-37.6%	4.67	6.88	5.43	0.11	0.08	0
Investment property	0%	0.51	0.51	0.51	0.51	0.52	0.52
Total assets	9.7%	82,497	75,183	72,371	70,272	66,805	64,392
Current tax liabilities	-	0	0	0	0	-	0
Total liabilities	-	65,663	-	57,439	56,117	55,852	54,022
Equity share capital	0%	260	260	260	260	169	169
Total equity	6.3%	16,834	15,834	14,932	14,155	10,953	10,371
Total equity and liabilities	9.7%	82,497	75,183	72,371	70,272	66,805	64,392

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	4.7%	2,160	2,064	2,142	3,921	3,678	3,246
Property, plant and equipment	17.4%	82	70	67	65	132	68
Capital work-in-progress	-37.6%	4.67	6.88	5.43	0.11	0.08	0
Investment property	0%	0.51	0.51	0.51	0.51	0.52	0.52
Total assets	9.8%	82,520	75,178	72,405	70,313	66,874	64,465
Current tax liabilities	-	-	0	-	-	0	0
Total liabilities	-	65,657	-	57,430	56,103	55,860	54,027
Equity share capital	0%	260	260	260	260	169	169
Total equity	6.3%	16,863	15,868	14,974	14,210	11,014	10,438
Total equity and liabilities	9.8%	82,520	75,178	72,405	70,313	66,874	64,465

Share Holdings

Understand PNB Housing Finance ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Punjab National Bank	28.1%
Quality Investment Holdings Pcc	10.44%
Government Of Singapore	7.49%
Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Psu Equity Fund	2.96%
Hsbc Small Cap Fund	2.62%
Tata Mutual Fund- Tata Equity P/E Fund	1.94%
Hdfc Mutual Fund - Hdfc Multi Cap Fund	1.72%
Axis Max Life Insurance Limited A/C Reversionary Bonus Participating - Equity	1.66%
Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund	1.63%
Monetary Authority Of Singapore	1.48%
Sbi Life Insurance Co. Ltd	1.36%
Baroda Bnp Paribas Balanced Advantage Fund	1.17%
Sundaram Mutual Fund A/C Sundaram Services Fund	1.11%
ESOP or ESOS or ESPS	0.08%
Prathama UP Gramin Bank	0%
Punjab Gramin Bank	0%
Himachal Pradesh Gramin Bank	0%
Sarva Haryana Gramin Bank	0%
Dakshin Bihar Gramin Bank	0%
Assam Gramin Vikas Bank	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Valuation
Market Cap	27.34 kCr
Price/Earnings (Trailing)	14.12
Price/Sales (Trailing)	3.56
EV/EBITDA	3.55
Price/Free Cashflow	-3.37
MarketCap/EBT	11

Fundamentals
Revenue (TTM)	7.69 kCr
Rev. Growth (Yr)	12.28%
Rev. Growth (Qtr)	4.82%
Earnings (TTM)	1.94 kCr
Earnings Growth (Yr)	25.3%
Earnings Growth (Qtr)	13.89%

Profitability
Operating Margin	31.25%
EBT Margin	31.25%
Return on Equity	11.5%
Return on Assets	2.43%
Free Cashflow Yield	-29.65%

Cash Flow for PNB Housing Finance

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023
Finance costs	6.7%	4,542	4,255	3,893
Depreciation	10%	56	51	51
Impairment loss / reversal	69.4%	289	171	691
Share-based payments	30.8%	18	14	12
Net Cashflows from Operations	-2683.7%	-3,233.09	-115.18	2,506
Interest paid	7.1%	4,479	4,182	3,981
Income taxes paid (refund)	17.3%	407	347	297
Net Cashflows From Operating Activities	-74.8%	-8,119.5	-4,644.14	-1,772.04
Proceeds from sales of PPE	40.3%	0.57	0.28	0.17
Purchase of property, plant and equipment	26.3%	49	39	13
Purchase of investment property	-169.8%	-804.99	1,155	0
Purchase of intangible assets under development	-	0	0	0
Net Cashflows From Investing Activities	163.3%	757	-1,193.48	174
Proceeds from issuing shares	-99.8%	6.97	2,468	7.21
Proceeds from issuing debt	53.7%	2,230	1,451	0
Proceeds from borrowings	56.1%	50,712	32,485	17,577
Repayments of borrowings	41.4%	45,508	32,193	17,247
Payments of lease liabilities	-	38	0	36
Net Cashflows from Financing Activities	77.2%	7,404	4,179	301
Net change in cash and cash eq.	102.4%	41	-1,658.98	-1,296.94

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023
Finance costs	6.7%	4,541	4,254	3,892
Depreciation	10%	56	51	51
Impairment loss / reversal	69.4%	289	171	691
Share-based payments	30.8%	18	14	12
Net Cashflows from Operations	-2474.7%	-3,184.73	-122.73	2,419
Interest paid	7.1%	4,478	4,181	3,980
Income taxes paid (refund)	10.1%	394	358	304
Net Cashflows From Operating Activities	-72.8%	-8,057.33	-4,661.51	-1,865.03
Proceeds from sales of PPE	-	0	0	0.17
Purchase of property, plant and equipment	26.3%	49	39	13
Proceeds from sales of investment property	40.3%	0.57	0.28	190
Purchase of investment property	-170.4%	-805.58	1,147	0
Purchase of intangible assets under development	-	0	0	0
Net Cashflows From Investing Activities	163.7%	757	-1,186.08	176
Proceeds from issuing shares	-100%	0	2,468	7.21
Proceeds from issuing other equity instruments	-	6.97	0	0
Proceeds from issuing debt	53.7%	2,230	1,451	0
Proceeds from borrowings	56.1%	50,712	32,485	17,577
Repayments of borrowings	41.4%	45,508	32,193	17,247
Payments of lease liabilities	15.6%	38	33	36
Net Cashflows from Financing Activities	77.2%	7,404	4,179	301
Net change in cash and cash eq.	106.2%	104	-1,668.96	-1,387.78

Investor Care
Dividend Yield	0.97%
Dividend/Share (TTM)	9
Shares Dilution (1Y)	0.08%
Diluted EPS (TTM)	74.26

Financial Health
Debt/Equity	0.00
Debt/Cashflow	0.00

Summary of Latest Earnings Report from PNB Housing Finance

Summary of PNB Housing Finance's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Jan 25

Outlook and Major Points from PNB Housing Finance Management:

1. Growth Targets:

Retail Loan Book: Aiming for Rs.1 lakh crore by FY27, with a 17%+ YoY growth. Retail book reached Rs.70,676 crores (up 17.5% YoY) in Q3FY25, the highest in 22 quarters.
Segment Mix Shift: Targeting 15% contribution from Affordable (Rs.5,000 crores by FY25-end), 25% from Emerging markets, and 60% from Prime by FY27. Affordable book doubled to Rs.3,838 crores in 9M FY25.
Disbursements: Retail disbursements grew 31% YoY to Rs.5,380 crores in Q3FY25, with Affordable and Emerging contributing 38% (vs. 29% YoY).

2. Profitability & Margins:

NIM Improvement: NIM rose to 3.7% (Q3FY25), with incremental yields in Affordable (12.14%) and Emerging (9.8%) segments. Aiming for NIM >4% by FY27.
ROA/ROE: ROA at 2.51% (annualized), ROE at 11.81% (9M FY25).
Cost Management: Cost-to-ATA ratio maintained at 1"“1.1%.

3. Asset Quality:

GNPA Reduction: Improved to 1.19% (Q3FY25 vs. 1.73% YoY), below industry averages. Recoveries of Rs.53 crores from written-off accounts led to negative credit costs (-19 bps).
Provisions: Corporate book stage-2 slippage (Rs.450 crores) expected to resolve in Q4.

4. Liquidity & Capital:

Strong liquidity with Rs.6,400 crores on-book and Rs.8,000 crores undrawn sanctions. Capital adequacy at 28.8%.

5. Expansion & Initiatives:

Branch Network: Adding 50 branches in Q4 (total 305), focusing on Tier 2/3 cities. Affordable branches to reach 200 by FY25-end.
Technology: Core platform upgrades and cloud-based LOS rollout enhancing efficiency.
PMAY Scheme: Partnered with NHB under PMAY Urban 2.0, processing Rs.675 crores in disbursements.

6. Guidance:

FY25: Retail book growth to exceed 17%, with continued focus on high-yield segments.
Medium-Term (FY27): NIM >4%, credit costs ~25 bps, leverage 5.5"“6x, and mid-teens ROE.

7. Risks & Mitigation:

Rate Cuts: Expect ~10 bps borrowing cost reduction per 25 bps repo rate cut, with NIM stability through mix shift.
Asset Quality Vigilance: Monitoring self-employed/informal segments; no stress signals observed. Portfolio diversification and pre-delinquency tools in place.

Summary: Management remains confident in achieving long-term growth targets, driven by Affordable/Emerging segments, tech investments, and robust asset quality. Margins and profitability are set to improve with favorable mix shifts and cost controls.

Q&A Session

Last updated: Jan 25

Major Questions and Answers from PNB Housing Finance Q3 FY25 Earnings Call

1. Question: What are the medium-term expectations for ROE, leverage, and credit costs, considering revenue mix improvement and normalized credit costs?
Answer: The company targets a retail loan book of Rs.1 lakh crore by FY27, with Affordable (15%), Emerging (25%), and Prime (60%) segments. They aim for NIM over 4%, credit costs of ~25 bps, leverage of 5.5"“6x, and mid-teens ROE.

2. Question: Are there risks to asset quality from self-employed/informal borrowers amid economic slowdown?
Answer: Demand remains robust. No stress observed in mortgage portfolios due to rigorous underwriting, pre-delinquency monitoring, and focus on bureau scores (84% of new loans have scores >700).

3. Question: What is the runoff rate, and how much is due to balance transfers (BTs)?
Answer: Annualized runoff is 16.5"“17%, with BTs at 5.5"“6%. Retention strategies include repricing policies, and closures are managed to align with growth targets.

4. Question: Why did Stage-2 assets increase in Q3?
Answer: A single corporate account (in SMA-2 for two years) contributed to the rise. Principal repayments (Rs.200 crore over two years) and resolution progress are expected to revert it to Stage-1 in Q4.

5. Question: Will Q3's disbursement challenges (e.g., Karnataka, Maharashtra) impact Q4 growth?
Answer: Disbursement growth was affected by regional disruptions, but normalization is expected in Q4. The company remains confident in achieving 17%+ retail book growth for FY25.

6. Question: Why did Prime disbursements decline sequentially?
Answer: Strategic focus on higher-margin Emerging/Affordable segments and regional disruptions contributed. Growth in Prime aligns with targets, with incremental yield improvements (5 bps QoQ).

7. Question: How will repo rate cuts impact NIMs and borrowing costs?
Answer: 70% of liabilities are floating; a 25 bps rate cut reduces borrowing costs by ~10 bps immediately. Margins aim to remain stable via mix shift (Emerging/Affordable) and yield improvements.

8. Question: What is the recovery outlook for the written-off pool?
Answer: Corporate written-off pool (Rs.1,250 crore) expects 67% recovery over three years. Retail pool (Rs.450 crore) targets Rs.45"“50 crore/quarter.

9. Question: How is the Affordable segment's asset quality and growth trajectory?
Answer: Affordable book doubled to Rs.3,838 crore in 9M FY25, targeting Rs.5,000 crore by FY25-end. Gross NPA at 0.2%, with yields improving to 12.14% (up 54 bps YoY).

10. Question: What is the path to 4%+ NIM by FY27?
Answer: Mix shift toward higher-yield segments (Emerging/Affordable), corporate loan revival, and recoveries will drive NIM expansion. Current NIM is 3.7% (up 2 bps QoQ).

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LICHSGFIN	Lic Housing FinanceHousing Finance Company	33.11 kCr	27.75 kCr	+6.43%	-10.03%	6.43	1.19	+3.71%	+5.71%
CANFINHOME	Can Fin HomesHousing Finance Company	9.54 kCr	3.81 kCr	+7.08%	-7.65%	11.13	2.46	+10.07%	+14.18%
REPCOHOME	Repco Home FinanceHousing Finance Company	2.44 kCr	1.68 kCr	+14.78%	-25.33%	5.37	1.45	+13.15%	+17.58%
IBULHSGFIN	IBULHSGFINOther	9.14 kCr	8.94 kCr	-3.91%	-29.20%	-5.05	1.02	+5.79%	-256.54%

PNBHOUSING - PNB Housing Finance Limited Share Price

What does PNB Housing Finance Limited do?

Sector Comparison: PNBHOUSING vs Finance

Comparative Metrics

Performance Comparison

Income Statement for PNB Housing Finance

Balance Sheet for PNB Housing Finance

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Valuation

Fundamentals

Profitability

Cash Flow for PNB Housing Finance

Investor Care

Financial Health

Summary of Latest Earnings Report from PNB Housing Finance

Is PNB Housing Finance Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)