PNB Housing Finance

Loan growth accelerate, margins and asset quality improves

PNB Housing Finance has posted strong 19% growth in the net profit to Rs 655.80 crore for the quarter ended March 2026 (Q4FY2026) over Q4FY2025. The loan book of the company increased 15%, while overall AUM improved 13% end March 2026 over March 2025. The company has posted strong 36% growth in the disbursement in Q4FY2026. Meanwhile, the margins and asset quality improved in Q4FY2026.

The net interest margin was healthy at 3.69% in the quarter ended March 2026, compared with 3.63% in the preceding quarter and 3.75% in the corresponding quarter last year. Net interest income for the quarter ended March 2026 increased 11% to Rs 807.90 crore as against Rs 727.87 crore in the same period of the previous year.

Income from operations increased 8% to Rs 2053.98 crore in the quarter ended March 2026. Interest expense moved up 6% to Rs 1246.08 crore, while other expenses (including staff cost of Rs 125.60 crore and other expenses of Rs 102.66 crore) increased 15% to Rs 228.26 crore. Ensuing Gross profit advanced 6% to Rs 697.57 crore.

The depreciation increased to Rs 19.18 crore in Q4FY2026 against Rs 14.31 crore in Q4FY2025. The write back of provision and write offs was higher at Rs 176.22 crore against write back of Rs 64.83 crore in same quarter last year. PBT increased 20% to Rs 854.61 crore.

Effective tax rate rose to 23.26% bps on yoy basis from 22.61%. The profit after tax of the company improved 19% to Rs 655.80 crore in the quarter ended March 2026.

Loan book and disbursements

The AUM of the company surged 13% to Rs 90921 crore end March 2026 over March 2025. The loan portfolio of the company increased 15% to Rs 87347 crore, While the loans sold outstanding declined 23% to Rs 3574 crore end March 2026 over March 2025. The disbursements increased 36% to Rs 9355 crore in the quarter ended March 2026.

The deposits with the company have increased 2% to Rs 18055 crore at end March 2026.

Asset quality

Gross NPA ratio dipped to 0.93% at end March 2026 from 1.04% a quarter ago and 1.08% a year ago. Meanwhile, Net NPA ratio also declined to 0.57% at end March 2026 from 0.68% a quarter ago.

In absolute terms, GNPA stood at Rs 809 crore and NNPA at Rs 499 crore at end March 2026.

Book value of the company stood at Rs 737.6 per share, while adjusted book value was at Rs 718.5 per share at end March 2026.

Financial Performance FY2026:

For the year ended March 2026 (FY2026), PNB Housing Finance reported 11% rise in Income from operations at Rs 8071.17 crore. Interest expense moved up 10% to Rs 5000.24 crore, while other expenses increased 13% to Rs 853.86 crore. Ensuing Gross profit increased 11% to Rs 2650.94 crore. Depreciation increased 19% to Rs 66.48 crore, while the company has written back provisions of Rs 386.15 crore. PBT improved 20% to Rs 2970.61 crore. Effective tax rate stood at 22.87% FY2026, compared with 22.11% in FY2025. The PAT of the company improved 18% to Rs 2291.24 crore in FY2026.

PNB Housing Finance: Consolidated Results
Particulars	2603 (3)	2503 (3)	Var %	2603 (12)	2503 (12)	Var %
Income from operations	2053.98	1905.92	8	8071.17	7273.73	11
Other Income	117.93	130.86	-10	433.87	417.90	4
Total Income	2171.91	2036.78	7	8505.04	7691.63	11
Interest Expenses	1246.08	1178.05	6	5000.24	4551.40	10
Other expenses	228.26	198.04	15	853.86	757.10	13
Gross profit	697.57	660.69	6	2650.94	2383.13	11
Depreciation	19.18	14.31	34	66.48	55.89	19
Profit before tax and Provisions	678.39	646.38	5	2584.46	2327.24	11
Provisions and write off	-176.22	-64.83	172	-386.15	-158.53	144
Profit before tax?	854.61	711.21	20	2970.61	2485.77	20
Provision for tax	198.81	160.83	24	679.37	549.63	24
PAT	655.80	550.38	19	2291.24	1936.14	18
EPS*(Rs)	100.7	84.7	?	87.9	74.5	?
Equity	260.6	259.9	?	260.6	259.9	?
Adj BV (Rs)	718.5	628.7	?	718.5	628.7	?
* EPS and Adj BV are calculated on diluted equity as given for each year. Face Value: Rs 10, Figures in Rs Crore, Figures as per Ind AS
Source: Capitaline Corporate Database

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