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Informist, Saturday, Oct. 25, 2025

By Shubham Rana

NEW DELHI – PNB Housing Finance Ltd. is expected to report a rise in its consolidated net profit for the September quarter, driven by strong growth in disbursements and assets under management, according to brokerages tracking the company.

The housing finance company is seen posting a consolidated net profit of INR 5.51 billion for the September quarter, according to the average of estimates by four brokerages. At INR 5.51 billion, the net profit would be 17% higher on year and 3.2% higher on quarter.

All four brokerages expect the net profit to be around INR 5.4 billion-INR 5.5 billion. The company will detail its financial results for the September quarter on Monday.

JM Financial Institutional Securities Pvt. Ltd. expects PNB Housing's disbursements to rise 22% on year in the September quarter and Motilal Oswal Financial Services Ltd. sees loan growth of around 16%.

PNB Housing's disbursements had risen 13% on year to INR 49.80 billion in the June quarter. The company's loan assets were INR 777.32 billion as on Jun. 30, up 16% on year.

Brokerages expect the company's assets under management to grow around 13-15% on year. The housing finance company's assets under management were at INR 821 billion as of end-June, up 13% on year.

The lender's bottom line is also likely to be supported by write-backs of provisions due to recoveries, brokerages said. PNB Housing has seen provision write-backs for several quarters, including INR 562 million in the June quarter and INR 456 million in the September quarter last year.

Brokerage Motilal Oswal expects provision write-backs from recoveries in both retail and corporate written-off pools. JM Financial said recoveries will continue to aid negative credit costs and lead to "healthy profitability".

Brokerages have a mixed view on PNB Housing's net interest margin. Two brokerages expect the net interest margin to rise around 10 basis points from 3.74% in the June quarter, while two see the margin declining around 5-10 bps.

"Commentaries on the asset quality of the retail loan book, NIM, and credit costs are the key monitorables," brokerage Motilal Oswal said in an earnings preview report.

All five brokerage reports on PNB Housing available with Informist have a 'buy' rating on the stock with an average target price of INR 1,162. The company's share price has declined 16% since it released its June quarter earnings on Jul. 21. On Friday, shares of the company ended 2.7% higher at INR 907.30 on the National Stock Exchange.

Following are the Jul-Sept earnings estimates for PNB Housing Finance from four brokerages in descending order of the estimate of net profit in INR million:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Avishek Dutta

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