PNB Housing Finance Ltd

Q1 FY26Finance

PNB Housing Finance Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹1,170

Market cap₹29.2K Cr

P/E12.4

Updated23 Aug 2026

Read4 min read

The short version

Loan book expected to approach INR 9,500 crores by end of FY 2025-26, reflecting strong growth momentum. The company expects a balanced growth in the Prime segment with book growth around 8-9% and disbursement growth of 12-13% for FY26.

From PNB Housing Finance Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Loan book expected to approach INR 9,500 crores by end of FY 2025-26, reflecting strong growth momentum.
Disbursements grew 30% year-on-year in Q1 FY’26; continued growth anticipated.
Emerging Markets business disbursements grew 32% Y-o-Y; focus to increase share with branches moving from Prime to Emerging market.
Prime segment slated for balanced growth with single-digit book growth (~8-9%) and disbursement growth around 12-13% in FY 2025-26.
Shift towards Affordable and Emerging segments with 50% of Q1 FY’26 origination from these higher-yield segments.
Addition of new branches and entry into new markets (Punjab, Chandigarh, North-East) aimed at deepening presence.
NHL segment disbursement grew 41% YoY, with plans for further incremental disbursements ahead.

2 more points management made on revenue & sales performance

Profitability & Margins

The company expects a balanced growth in the Prime segment with book growth around 8-9% and disbursement growth of 12-13% for FY26.
Overall loan book growth guidance is 15% for FY26.
Focus on margin-accretive businesses like Emerging and Affordable segments, which together contribute about 50% of origination in Q1 FY26.
The company targets maintaining NIM around 3.7% for FY26, slightly higher than previous guidance.
Credit cost expected to remain low; credit cost guidance for Prime at 18-19 bps and Emerging at 20-22 bps, with Affordable segment expected NPAs to peak around 1.1%.
ROE expected to improve to around 14% over the medium term (approximately three years), up from 12-12.5% currently.

2 more points management made on profitability & margins

See what PNB Housing Finance Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The document does not explicitly mention any current or future capex, capital investment, or strategic investment plans by PNB Housing Finance Limited during the call or presentation on July 22, 2025. Key focus areas discussed include: - Growth strategy prioritizing Emerging and Affordable housing segments. - Branch reclassification from Prime to Emerging markets to capture better yields. - Emphasis on margin-accretive lending and maintaining asset quality. - No direct references to capital expenditure or strategic investments.

2 more points management made on capital expenditure plans

Top-ranked in Finance

Ranked on what management guided this quarter

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The document does not explicitly mention any current or future fundraising plans through debt or equity for PNB Housing Finance Limited. Key points related to capital and funding are: - The company recently raised capital, which is causing a temporary drag on ROE, with expectations to reach around 14% ROE in about three years (Page 10). - The company benefits from affordable funding from the regulator for lending to Affordable housing customers under the new PMAY scheme (Page 14).

2 more points management made on fundraising & capital structure

See what PNB Housing Finance Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript provided does not contain specific information regarding the current or expected order book or pending orders for PNB Housing Finance Limited. The discussion primarily revolves around loan book growth, disbursement performance, segmentation of the loan book, yields, asset quality, margins, and operational metrics for Q1 FY26. - No explicit data about order book or pending orders is mentioned. - Focus is on loan disbursements, portfolio growth, and segment-wise performance.

2 more points management made on order book & pipeline

What PNB Housing's management said in earlier quarters

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Frequently Asked Questions

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PNB Housing Finance Ltd currently shows a neutral. The stock trades at a P/E of 12.4 with a market cap of ₹29,228 Cr. Investors should review the full earnings analysis for detailed insights.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.