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PNB Housing Finance Q2 FY27 Share Price & Earnings Call Analysis

₹1,110.00-1.07% today
Market cap
₹28,942 Cr
P/E
12.33
ROE
12.91%
PEG
0.42
Price to sales
3.32
Debt to equity
3.70
52W high / low
₹1,225 / ₹751
Sales growth (5Y)
2.36%
EBITDA margin
94.34%
Net profit margin
27.39%
Promoter holding
28.03%
Sales (last year)
₹8,700 Cr

PNB Housing Finance offers retail customers housing and non-housing loans, including individual home loans, loan against property, non-resident property loan, among others. It is promoted by Punjab National Bank. [1]

Guidance scorecard · Q2 FY27 call

What PNB Housing Finance Ltd's management guided
and where it ranks in Finance

Revenue10–20%MarginsUp 0–2%CapexWhat management saidFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

10–20%
  • The company expects strong growth in Affordable business, targeting 50%-60% growth in Affordable loan book in FY27 and 50% contribution from Affordable and Emerging segments by FY28.
  • Overall loan book growth guidance is maintained at 18%-20% for FY27, with confidence to potentially exceed this.
  • Disbursement growth rebounded strongly in July after a subdued Q1 due to recognition changes, with July showing promising momentum.
  • Improved productivity through technology and distribution enhancement supports growth.
  • Early positive results from co-located branches expanding Affordable business in Prime and Emerging markets.
  • New micro housing business initiated leveraging existing Affordable branches to maintain OPEX efficiency.

2 more points from PNB Housing Finance Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

  • Branch network expansion: Added 12 new branches, totaling 404 branches.
  • Leveraging co-located branches in Prime and Emerging markets to grow Affordable business.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

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

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • The discussion primarily focuses on disbursements, yield, margins, asset quality, recovery, fee income, and growth strategies in various segments such as Affordable, Prime, and Emerging markets.
  • Disbursements grew 18% YoY in Q1 FY27; strong catch-up expected from Q2 onwards.
  • July month shows very good momentum in disbursements.

2 more points from PNB Housing Finance Ltd's call on the order book

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Full Q1 FY27 analysis
Full Finance ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Finance
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does PNB Housing Finance Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Finance companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,742 Cr71.8
240%+Up 2%+₹464 Cr23.9
340%+Up 0–2%₹961 Cr32.7
440%+Flat₹23,820 Cr21.1
540%+Flat₹16,498 Cr72.4
640%+Flat₹15,549 Cr—

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PNB Housing Finance Ltd announcements

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Financials of PNB Housing Finance Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

PNB Housing Finance Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +28.13%28.13%28.13%28.11%28.11%28.10%28.08%28.04%28.04%28.04%28.03%28.01%
FIIs +24.70%25.00%17.89%20.42%24.34%21.45%24.18%18.61%17.22%16.60%16.81%14.19%
DIIs +7.86%6.88%10.95%22.17%26.85%29.88%37.99%40.68%43.02%44.07%45.71%49.29%
Government +0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.02%0.02%0.02%0.00%
Public +39.32%39.98%43.04%29.29%20.69%20.57%9.74%12.65%11.69%11.28%9.42%8.51%
No. of Shareholders1,24,6561,33,1771,62,9381,58,7991,83,4821,82,0701,87,5262,24,1831,99,9301,92,5121,71,7421,63,963

Financials of PNB Housing Finance Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +1,7661,7481,8011,8131,8681,9232,0302,0642,1682,1102,1702,2522,460
Interest1,0581,0871,0701,0971,1191,1581,1781,2351,2671,2531,2461,3391,415
Expenses +1902061561531301491251368417449185189
Financing Profit519455575563619615726693816683874728856
Financing Margin %29%26%32%31%33%32%36%34%38%32%40%32%35%
Other Income +23592215742-931
Depreciation11131413141414151616191617
Profit before tax509445566559607603727686804669846715841
Tax %24%22%22%21%22%22%22%22%22%22%23%22%21%
Net Profit +384347444439472471567532626521649554661
EPS in Rs14.8113.3417.0916.8918.1518.1421.8220.4424.0520.0024.9021.2825.36
Gross NPA %1.78%1.73%1.50%1.35%1.24%1.19%1.08%1.06%1.04%1.04%0.93%0.95%
Net NPA %1.19%1.14%0.95%0.92%0.84%0.80%0.69%0.69%0.69%0.68%0.57%0.58%

Financials of PNB Housing Finance Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +1,7802,6983,9085,4887,4818,4787,5656,1416,4917,0167,6518,5008,992
Interest1,2651,8602,6443,5375,1675,8765,1004,0663,9014,2644,5535,0025,254
Expenses +2133204426937081,7191,2359641,173737557442597
Financing Profit3035188221,2581,6068841,2301,1111,4162,0152,5423,0573,141
Financing Margin %17%19%21%23%21%10%16%18%22%29%33%36%35%
Other Income +-010047155271013-3
Depreciation8151924316659535151566668
Profit before tax2945038041,2351,5788251,1871,0631,3671,9722,4963,0043,070
Tax %34%35%35%32%31%17%22%23%23%23%22%22%
Net Profit +1943265248421,0816829258221,0561,5271,9492,3282,386
EPS in Rs9.9516.7320.5732.9042.0126.3935.7831.7240.7058.8174.9889.3491.54
Dividend Payout %16%13%19%18%14%0%0%0%0%0%7%9%

Financials of PNB Housing Finance Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital104127166167167168168169169260260261261
Reserves1,4752,0195,4126,4027,2687,7798,6999,63210,78414,67316,57418,96520,037
Borrowing16,48126,01435,49753,77771,85967,73659,39453,00553,62155,01762,31071,19961,853
Other Liabilities +9761,5111,8852,6734,4563,1913,0722,8442,2312,4223,3533,10919,544
Total Liabilities19,03529,67142,96063,01883,75078,87471,33365,64966,80572,37182,49793,533101,695
Fixed Assets +405858255102250181150146206239273275
CWIP18421054243151664
Investments1,5861,6223,2802,4134,4572,0482,0333,4723,1884,3453,3812,7773,680
Other Assets +17,39227,98739,62060,34079,18576,57269,11762,02463,46867,80478,86190,47797,736
Total Assets19,03529,67142,96063,01883,75078,87471,33365,64966,80572,37182,49793,533101,695

Financials of PNB Housing Finance Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-6,791-9,664-12,406-15,664-16,6268,9116,7316,218-1,772-4,644-8,120-8,973
Cash from Investing Activity +-37-20-17-50-53-62-6-1,476174-1,193757736
Cash from Financing Activity +6,8509,80412,32218,46417,888-4,362-8,331-6,6843014,1797,4048,720
Net Cash Flow22120-1012,7511,2094,486-1,606-1,942-1,297-1,65941483
Free Cash Flow-6,828-9,684-12,423-15,713-16,6798,8496,7256,203-1,786-4,683-8,168-9,005

Financials of PNB Housing Finance Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %15%18%14%14%15%9%11%9%10%12%12%13%

Guidance history

How PNB Housing Finance Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 0–2%——Rising
Q4 FY26 call →10–20%Flat———
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

69out of 100

Momentum score · price trend

69 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+18.3%73%
Last 6 months+6.2%62%
Last 3 months+7.4%76%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For PNB Housing Finance Ltd: 0.4 × 73 + 0.4 × 62 + 0.2 × 76 = 69.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What PNB Housing Finance Ltd's management said in earlier quarters

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