PNB Housing Finance Ltd logo

PNB Housing Finance Ltd

PNBHOUSING NSE

PNB Housing Finance offers retail customers housing and non-housing loans, including individual home loans, loan against property, non-resident property loan, among others. It is promoted by Punjab National Bank. [1]

AI Verdict: HOLD Confidence: 5%

PNB Housing Finance trades at an attractive PE of 11.4x with strong profit growth of 30% CAGR over 3 years, but poor sales growth of 2.26% over 5 years and declining promoter holding raise concerns. The overwhelming analyst consensus (91.67% buy) is encouraging, yet the stock's -4% return over the past year signals near-term headwinds.

Key Fundamentals

SmallcapHousing FinanceFinancial Services
Market Cap
₹27,775 Cr
Volatility
Moderate
P/E Ratio
11.88
EBITDA
₹8,037 Cr
Return on Equity
10.07%
Debt to Equity
3.69
Book Value
₹737.53
EPS
₹61.35
52W High
₹1,136
52W Low
₹729.6

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 19.7% CAGR over last 5 years

Weaknesses

5
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.26% over past five years.
  • Company has a low return on equity of 12.2% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -4.48%

Growth Rate

Revenue Growth
10.57% ↗
Net Income Growth
23.40% ↘
Cash Flow Change
-72.85% ↘
ROE
14.00% ↘
ROCE
-0.86% ↘
EBITDA Margin (Avg.)
2.46% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

PNB Housing Finance trades at an attractive PE of 11.4x with strong profit growth of 30% CAGR over 3 years, but poor sales growth of 2.26% over 5 years and declining promoter holding raise concerns. The overwhelming analyst consensus (91.67% buy) is encouraging, yet the stock's -4% return over the past year signals near-term headwinds.

Bull Case 8
  • Attractive valuation with PE ratio of 11.4x, significantly below many NBFC peers, offering margin of safety
  • Strong compounded profit growth of 30% CAGR over the last 3 years indicates improving operational efficiency
  • Overwhelming analyst consensus with 91.67% buy ratings (11 out of 12 analysts) and zero sell ratings
  • Healthy 5-year profit CAGR of 19.7% demonstrates sustained earnings momentum
  • Price-to-book ratio of 1.36x is reasonable for a housing finance company with improving profitability
  • TTM profit growth of 18% shows continued earnings acceleration in the most recent period
  • 3-year stock CAGR of 18% indicates medium-term wealth creation despite recent correction
  • ROE improving from 11% (5-year average) to 13% (last year) shows trajectory of better capital utilization
Bear Case 8
  • Extremely poor sales growth of only 2.26% CAGR over 5 years signals weak loan book expansion
  • Low interest coverage ratio raises concerns about debt servicing ability in a rising rate environment
  • Promoter holding has declined by 4.48% over last 3 years, indicating reduced promoter confidence
  • ROE of 12.2% over 3 years is below cost of equity for most financial services companies
  • Stock has delivered negative returns of -4% over the past 1 year despite broader market strength
  • Potential capitalization of interest costs may be inflating reported profitability
  • Dividend yield of only 0.5% offers minimal income protection during periods of capital depreciation
  • 5-year stock CAGR of only 10% underperforms broader indices and housing finance peers

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 3
  • Active global investor engagement Jun 24

    MD & CEO and CFO conducted non-deal roadshow in Singapore meeting six fund managers, following back-to-back meetings at Morgan Stanley, Goldman Sachs, and Citi conferences in early June.

  • Chief Strategy Officer appointed Jun 3

    Rahul Jain appointed as Chief Strategy Officer with 18+ years of experience in risk management and strategy, effective June 3, 2026.

  • No promoter share encumbrance Jun 16

    Punjab National Bank reported zero encumbrance on its PNB Housing Finance shareholding for FY26, signaling promoter confidence and clean governance.

Neutral 3
  • ₹500 crore NCD allotment Jun 9

    Allotted 50,000 NCDs worth ₹500 crore at 8.35% coupon rate maturing June 9, 2031, indicating routine debt fundraising.

  • ₹20.87 crore block trade on NSE May 29

    Block trade of ~200,318 shares at ₹1,041.70 per share totaling ₹20.87 crore executed on NSE, likely an institutional transaction.

  • 38th AGM scheduled August 17 May 30

    Board approved holding the 38th AGM on August 17, 2026 via video conferencing.

TL;DR: PNB Housing Finance is in an active investor outreach phase with roadshows at top-tier global banks and a new strategic hire, signaling management confidence in its growth narrative. There are no visible headwinds in recent news flow. The ₹500 crore NCD issuance at 8.35% reflects routine liability management. The trend appears stable-to-positive with management focused on visibility and strategic positioning ahead of the August AGM.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
1,636
1,708
1,778
1,755
1,810
1,823
1,879
1,942
2,022
2,076
2,128
2,119
2,182
Expenses
275
201
204
216
170
168
143
155
133
145
88
183
52
Financing Profit
353
459
517
452
570
559
618
629
711
697
773
683
883
Fin. Margin %
22%
27%
29%
26%
31%
31%
33%
32%
35%
34%
36%
32%
40%
Other Income
2
0
2
1
4
9
1
1
15
6
3
2
-10
Interest
1,008
1,048
1,057
1,087
1,070
1,097
1,118
1,158
1,178
1,234
1,267
1,253
1,246
Depreciation
13
13
11
13
14
13
14
14
14
15
16
16
19
PBT
342
447
507
440
560
554
605
616
711
688
760
668
855
Tax %
18%
22%
24%
23%
22%
22%
22%
22%
23%
22%
23%
22%
23%
Net Profit
279
347
383
338
439
433
470
483
550
534
582
520
656
EPS in Rs
10.76
13.38
14.75
13.03
16.91
16.66
18.08
18.6
21.17
20.51
22.33
19.97
25.17
Gross NPA %
—
—
—
—
—
—
1.24%
1.19%
—
1.06%
1.04%
1.04%
0.93%
Net NPA %
—
—
—
—
—
—
0.84%
0.8%
—
0.69%
0.69%
0.68%
0.57%
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
5,489
7,679
8,482
7,604
6,196
6,527
7,053
7,685
8,505
Expenses
693
750
1,737
1,253
998
1,217
789
598
468
Financing Profit
1,258
1,762
870
1,250
1,133
1,410
2,001
2,535
3,037
Fin. Margin %
23%
23%
10%
16%
18%
22%
28%
33%
36%
Other Income
0
4
7
16
5
2
4
6
1
Interest
3,537
5,167
5,875
5,101
4,065
3,900
4,263
4,552
5,000
Depreciation
24
31
66
59
53
51
51
56
66
PBT
1,235
1,734
811
1,207
1,084
1,361
1,954
2,486
2,971
Tax %
32%
31%
20%
23%
23%
23%
23%
22%
23%
Net Profit
841
1,192
646
930
836
1,046
1,508
1,936
2,291
EPS in Rs
32.86
46.29
25
35.96
32.28
40.31
58.06
74.49
87.94
Div. Payout %
18%
13%
0%
0%
0%
0%
0%
7%
9%
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
167
167
168
168
169
169
260
260
261
Reserves
6,401
7,376
7,830
8,755
9,703
10,845
14,715
16,603
18,959
Borrowing
53,777
71,859
67,735
59,392
52,961
53,621
55,017
62,310
71,199
Other Liabilities
2,670
4,466
3,197
3,077
2,897
2,238
2,414
3,348
3,094
Total Liabilities
63,014
83,869
78,930
71,392
65,730
66,874
72,405
82,520
93,512
Fixed Assets
76
103
251
181
150
146
207
239
279
CWIP
10
5
4
2
4
3
15
16
1
Investments
2,413
4,561
2,076
2,045
3,483
3,196
4,346
3,381
2,779
Other Assets
60,516
79,200
76,599
69,164
62,093
63,528
67,837
78,884
90,453
Total Assets
63,014
83,869
78,930
71,392
65,730
66,874
72,405
82,520
93,512
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-15,664
-16,617
8,928
6,611
6,254
-1,865
-4,662
-8,057
-8,984
Investing
-50
-54
-63
21
-1,475
176
-1,186
757
684
Financing
18,464
17,888
-4,386
-8,178
-6,732
301
4,179
7,404
8,720
Net Cash Flow
2,751
1,217
4,480
-1,546
-1,953
-1,388
-1,669
104
421
Free Cash Flow
-15,713
-16,671
8,866
6,606
6,239
-1,880
-4,701
-8,106
-9,016
CFO/OP
-317
-232
137
109
127
-29
-69
-108
-48
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
13%
17%
8%
11%
9%
10%
12%
12%
13%

Shareholding Pattern

As of Mar 2026
DIIs 44.07%
Promoters 28.04%
FIIs 16.60%
Public 9.01%
Others 2.26%
Government 0.02%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023May 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
32.64%
32.59%
32.58%
32.57%
32.57%
32.57%
32.57%
32.53%
32.52%
28.15%
28.15%
28.14%
28.13%
28.13%
28.13%
28.11%
28.11%
28.10%
28.08%
28.04%
28.04%
28.04%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
24.81%
0.00%
25.01%
17.89%
20.42%
24.34%
21.44%
24.18%
18.61%
17.22%
16.60%
DIIs
3.11%
2.80%
2.96%
2.34%
2.30%
2.33%
3.24%
2.99%
3.65%
6.28%
7.60%
7.73%
5.03%
6.88%
10.95%
22.18%
26.86%
29.87%
37.99%
40.69%
43.03%
44.07%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.02%
0.02%
Public
5.73%
4.58%
4.68%
6.02%
6.79%
6.92%
6.93%
7.03%
6.14%
5.63%
5.56%
5.46%
5.48%
6.01%
8.10%
7.24%
7.89%
7.82%
7.51%
9.77%
9.07%
9.01%
Others
58.53%
60.03%
59.78%
59.06%
58.34%
58.19%
57.26%
57.45%
57.69%
59.94%
58.69%
33.86%
61.36%
33.98%
34.94%
22.05%
12.80%
12.76%
2.24%
2.88%
2.62%
2.26%
No. of Shareholders
1,05,902
1,05,325
1,01,947
1,04,398
1,19,187
1,20,592
1,19,997
1,18,147
1,08,269
1,09,200
1,20,193
1,19,631
1,24,656
1,33,177
1,62,938
1,58,799
1,83,482
1,82,070
1,87,526
2,24,183
1,99,930
1,92,512

Documents

Frequently Asked Questions about PNB Housing Finance Ltd

What does PNB Housing Finance Ltd do?
PNB Housing Finance offers retail customers housing and non-housing loans, including individual home loans, loan against property, non-resident property loan, among others. It is promoted by Punjab National Bank. [1]
Where is PNB Housing Finance Ltd (PNBHOUSING) listed?
PNB Housing Finance Ltd is listed on the Indian stock exchanges. It is listed on NSE: PNBHOUSING and BSE: 540173. You can view its live share price, financials, and ratios on Tapetide.
Which sector does PNB Housing Finance Ltd belong to?
PNB Housing Finance Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of PNB Housing Finance Ltd?
PNB Housing Finance Ltd has a market capitalisation of approximately ₹27775.42 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of PNB Housing Finance Ltd?
The Price-to-Earnings (PE) ratio of PNB Housing Finance Ltd is 11.88. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of PNB Housing Finance Ltd?
Over the past 52 weeks, PNB Housing Finance Ltd has traded between a low of ₹729.6 and a high of ₹1,136. This range helps investors understand the stock's price volatility and recent trading levels.
Does PNB Housing Finance Ltd pay dividends?
Yes, PNB Housing Finance Ltd has a dividend yield of 0.48%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of PNB Housing Finance Ltd?
PNB Housing Finance Ltd has a Return on Equity (ROE) of 10.07%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research PNB Housing Finance Ltd on Tapetide?
On Tapetide, you can view PNB Housing Finance Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

PNB Housing Finance offers retail customers housing and non-housing loans, including individual home loans, loan against property, non-resident property loan, among others. It is promoted by Punjab National Bank. [1]

Website pnbhousing.com
CEO Mr. Vinay Gupta
Employees 2,149
Listed 2016-11-07
Face Value ₹ 10
Issued Size 26,05,08,563

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