CARE assigns 'AAA' rating to PNB Housing's NCDs worth INR 27.54 bln
This story was originally published at 10:17 IST on 4 July 2026
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--CARE assigns 'AAA' rating to PNB Housing's NCDs worth INR 27.54 bln
MUMBAI – CareEdge Ratings has assigned "AAA" rating with a "stable" outlook to PNB Housing Finance Ltd.'s INR 27.54 billion worth of non-convertible debentures along with its additional bank facilities and has reaffirmed the existing ratings, the housing finance company said in an exchange filing Friday.
The rating is based on the company's strong market position, sequential improvement in its asset quality, and diversified funding profile. "CareEdge Ratings notes that PNBHFL (PNB Housing Finance Ltd.) entered the relatively high-yield affordable housing finance segment about three years ago, which has grown at a rapid pace. Hence, that book is yet to fully season," the ratings agency said.
Moreover, Punjab National Bank, the largest shareholder in the housing finance company, has stated that it will provide need-based support to the company in exigency. The state-owned lender is expected to continue to hold over 26% stake in the housing finance company with promoter status. However, the company's ability to scale up the segment and maintain asset quality and profitability will be monitored.
Friday, PNB Housing Finance's shares closed 0.83% higher at INR 1,064.40 on the National Stock Exchange. For the March quarter, the company posted a net profit of INR 6.49 billion on total revenue of INR 21.70 billion. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Janwee Prajapati
Edited by Deepshikha Bhardwaj
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