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Informist, Tuesday, Aug. 4, 2026

 

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--PNB Housing Fin Q1 consol revenue INR 22.63 bln vs INR 20.76 bln yr ago 
--PNB Housing Fin Q1 consol net profit INR 5.57 bln vs INR 5.34 bln yr ago 
--PNB Housing Fin Apr-Jun consol revenue INR 22.63 bln 
--Analysts saw PNB Housing Fin Apr-Jun consol net profit at INR 5.58 bln 
--PNB Housing Fin Apr-Jun consol net profit INR 5.57 bln 
--PNB Housing Fin Apr-Jun consol NIM 3.50% vs 3.74% year ago 
--PNB Housing Fin Apr-Jun consol AUM INR 930.21 bln, up 13% on year 
--PNB Housing Fin Apr-Jun consol gross NPA ratio 0.95% vs 0.93% qtr ago
--PNB Housing Fin Apr-Jun consol net NPA ratio 0.58% vs 0.57% qtr ago 
 

 

By Priyasmita Dutta

 

NEW DELHI – PNB Housing Finance Ltd. missed the Street estimates by a whisker, reporting a modest rise in net profit for the June quarter as total expenses grew faster than income. The company's on-year net profit growth was the slowest pace in 16 quarters.

 

The housing finance company's consolidated net profit rose 4.5% on year to INR 5.57 billion in Apr-Jun. Analysts had projected the company's net profit at INR 5.58 billion. Sequentially, the metric was down 15%.

 

PNB Housing's total income during the quarter rose nearly 9% on year in the June quarter, while total expenses grew 11%. In the June quarter last year, the lender had reported a net profit of INR 5.34 billion, and in the March quarter, it was INR 6.56 billion. 

 

The housing financier's total income was INR 22.65 billion in Apr-Jun, almost entirely from revenue from operations. Its other income – a paltry INR 19 million – fell 67% on year during the quarter.

 

The company's shares ended at INR 1,080 on the National Stock Exchange on Tuesday, down 0.9% from the previous close. PNB Housing Finance announced the financial results for the June quarter after market hours.

 

Its total expenses rose 11% on year to INR 15.47 billion, primarily due to a sharp jump in its finance costs. PNB Housing's finance costs rose over 8% on year and 7% on quarter to INR 13.39 billion. Expenses on employee benefits rose 14% on year and 7% on quarter to INR 1.35 billion. 

 

On a standalone basis, PNB Housing Finance's net profit was INR 5.55 billion during the June quarter, up 4.3% on year. PNB Housing Finance is India's third-largest housing finance company by loan assets and is promoted by Punjab National Bank. Its wholly-owned subsidiary, PHFL Home Loans and Services Ltd., acts as its in-house sales and distribution channel. PNB Housing Finance is also a deposit-taking housing finance company. 

 

The housing finance company's consolidated net interest income during the quarter rose 6% on year to INR 8.03 billion, missing the Street estimates by a slim margin. Sequentially, it was down 1%. Disbursements were up 18% on year to INR 58.82 billion during the quarter. "Overall disbursements up 18% YoY after one-time impact of change in accounting in disbursement recognition from cheque handover to cheque realisation," the company said in a press release. Sequentially, disbursements were down 37% due to seasonality. 

 

The company's assets under management totalled INR 930.21 billion at the end of June, "reflecting a consistent growth" of 13% on year, the company said. Its retail loan assets grew 16% on year to INR 891.78 billion as of Jun. 30, 99.5% of total loan assets.

 

"We remain focused on strengthening our distribution network and digital capabilities. Our ongoing digital transformation initiatives across sourcing, underwriting, servicing and collections are helping enhance customer experience, improve operational efficiency and support scalable growth," Ajai Shukla, managing director and chief executive officer, said. "Backed by a strong capital position and prudent risk management practices, we remain well positioned to drive sustainable growth and create long-term value for our stakeholders," he said. 

 

The financier's net interest margin moderated 24 basis points on year and 19 bps on quarter to INR 3.50% in the June quarter. The NIM moderated due to an increase in leverage in Apr-Jun, the company said in a press release. Cost of borrowing for the reporting quarter increased slightly to 7.36?spite tight liquidity on account of macroeconomic conditions, the release also said. 

 

Its gross non-performing asset ratio remained sub-1% during the June quarter at 0.95%, down 11 bps on year but 2 bps higher sequentially. The net NPA also inched up by 1 bp to 0.58% in Apr-Jun. End

 

Edited by Saji George Titus

 

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