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PNB Housing Finance Limited
(PNBHOUSING)
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Rating:67Neutral
Price Target:
₹1,217.00
▲(4.20% Upside)
Action:Downgraded
Date:08/06/26
The score is supported primarily by strong profitability and margin expansion reflected in the income statement, alongside a constructive technical uptrend. This is tempered by elevated (though improving) balance-sheet leverage typical of mortgage lenders and notably volatile cash flows over FY2023–FY2025. Valuation is reasonable on P/E, while the dividend yield offers limited additional support.
Positive Factors
Sustained margin expansion
PNB Housing demonstrates a material and sustained improvement in profitability, with net margins roughly doubling over the period. Strong margins indicate durable lending spread economics and improved underwriting, supporting internal capital generation for growth and loss-absorption over the next several quarters.
Negative Factors
High absolute leverage
Despite improvement, absolute leverage remains significant for a housing lender. High debt loads keep sensitivity to funding-cost increases and market-disruption elevated, constraining flexibility for growth or provisioning and making performance more cyclical across 2–6 month funding or credit shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained margin expansion
PNB Housing demonstrates a material and sustained improvement in profitability, with net margins roughly doubling over the period. Strong margins indicate durable lending spread economics and improved underwriting, supporting internal capital generation for growth and loss-absorption over the next several quarters.
Read all positive factors
PNB Housing Finance Limited (PNBHOUSING) vs. iShares MSCI India ETF (INDA)
Market Cap
₹298.10B
Dividend Yield0.71%
Average Volume (3M)87.01K
Price to Earnings (P/E)12.7
Beta (1Y)1.15
Revenue Growth10.71%
EPS Growth13.39%
CountryIN
Employees2,355
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)88.87
Shares Outstanding260,803,920
10 Day Avg. Volume66,762
30 Day Avg. Volume87,014
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)1.02
Price to Sales (P/S)2.31
P/FCF Ratio9.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)92.62
Revenue Forecast (FY)₹40.34B
PNB Housing Finance Limited Business Overview & Revenue Model
Company Description
PNB Housing Finance Limited operates as an Indian financial institution dedicated to housing finance. The company extends a comprehensive suite of financial products, primarily loan facilities, to both individual clients and corporate entities. Th...
How the Company Makes Money
PNB Housing Finance primarily makes money through a spread-based lending model and fee-based income. Its core revenue stream is net interest income: the company borrows funds (via sources such as bank borrowings/term loans, bonds and debentures, r...
PNB Housing Finance Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
62
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 87.85B | 85.05B | 75.02B | 70.34B | 64.29B | 61.81B |
| Gross Profit | 36.22B | 33.61B | 29.62B | 27.84B | 25.41B | 21.25B |
| EBITDA | 29.56B | 30.37B | 25.42B | 20.05B | 14.12B | 11.37B |
| Net Income | 23.15B | 22.91B | 19.36B | 15.08B | 10.46B | 8.36B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 935.12B | 825.20B | 724.05B | 668.74B | 657.30B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 33.39B | 36.00B | 26.07B | 37.88B | 52.33B |
| Total Debt | 0.00 | 539.77B | 446.68B | 376.87B | 368.08B | 354.26B |
| Total Liabilities | -192.19B | 742.93B | 656.57B | 574.30B | 558.60B | 558.58B |
| Stockholders Equity | 192.19B | 192.19B | 168.63B | 149.74B | 110.14B | 98.72B |
Cash Flow | ||||||
| Free Cash Flow | -38.87B | 19.90B | -81.06B | -47.01B | -18.80B | 62.41B |
| Operating Cash Flow | -38.71B | 20.23B | -80.57B | -46.62B | -18.65B | 62.56B |
| Investing Cash Flow | 2.71B | -109.06B | 7.57B | -11.86B | 1.76B | -14.75B |
| Financing Cash Flow | 28.68B | 87.20B | 74.04B | 41.79B | 3.01B | -66.84B |
PNB Housing Finance Limited Technical Analysis
Neutral
1168.00
Price Trends
1126.57
Negative
1080.32
Positive
976.49
Positive
Market Momentum
-0.32
Positive
46.27
Neutral
45.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNBHOUSING, the sentiment is Neutral. The current price of 1168 is above the 20-day moving average (MA) of 1153.90, above the 50-day MA of 1126.57, and above the 200-day MA of 976.49, indicating a neutral trend. The MACD of -0.32 indicates Positive momentum. The RSI at 46.27 is Neutral, neither overbought nor oversold. The STOCH value of 45.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PNBHOUSING.
PNB Housing Finance Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹204.18B | 17.42 | ― | ― | 18.04% | 19.18% | |
70 Outperform | ₹312.02B | 5.42 | ― | 1.77% | 0.23% | 4.34% | |
67 Neutral | ₹298.10B | 12.67 | ― | 0.71% | 10.71% | 13.39% | |
65 Neutral | ₹131.37B | 21.74 | ― | 0.43% | 21.42% | 25.43% | |
61 Neutral | ₹699.58B | 25.73 | ― | ― | 16.23% | 17.11% | |
58 Neutral | ₹102.45B | 8.95 | ― | 1.97% | 8.20% | 28.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:PNBHOUSING
PNB Housing Finance Limited
1,125.60
242.64
27.48%
IN:AADHARHFC
Aadhar Housing Finance Ltd
458.05
-77.30
-14.44%
IN:BAJAJHFL
Bajaj Housing Finance Ltd.
83.12
-29.48
-26.18%
IN:CANFINHOME
Can Fin Homes Ltd.
761.15
-5.91
-0.77%
IN:HOMEFIRST
Home First Finance Company India Ltd.
1,212.30
-46.16
-3.67%
IN:LICHSGFIN
LIC Housing Finance Ltd
565.10
-5.88
-1.03%
PNB Housing Finance Limited Corporate Events
PNB Housing Finance reshuffles leadership in affordable housing business
Aug 3, 2026
PNB Housing Finance Limited announced a senior management change in its affordable housing vertical, following the resignation of Chief Business Officer (Affordable Business) Valli Sekar, who is leaving the company effective September 1, 2026 to p...
PNB Housing Finance dispatches AGM notice and FY26 annual report, opts for virtual meeting
Jul 24, 2026
PNB Housing Finance Limited has announced that the notice convening its 38th Annual General Meeting, scheduled for August 17, 2026 at 3:00 p.m. IST via video conferencing and other audio-visual means, along with the Annual Report for FY 2025-26, h...
PNB Housing Finance Files SEBI Demat Compliance Certificate for June Quarter
Jul 14, 2026
PNB Housing Finance Limited has submitted to the stock exchanges a certificate from its registrar and share transfer agent, MUFG Intime India Private Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for...
CARE Ratings Affirms PNB Housing Finance at AAA, Flags Affordable Housing Book as Key Monitorable
Jul 3, 2026
CARE Ratings has assigned its highest long-term rating of ‘CARE AAA/Stable’ to new bank facilities and non-convertible debentures of PNB Housing Finance Limited, while reaffirming the top-tier ratings on the company’s existing ba...
PNB Housing Finance Plans Non-Deal Roadshow in Hong Kong and Singapore
Jun 17, 2026
PNB Housing Finance Limited has announced that its officials will participate in a non-deal roadshow with investors through one-on-one physical meetings in Hong Kong on June 23, 2026, and in Singapore on June 24–25, 2026. The company will us...
PNB Housing Finance briefs institutional investors at Citi India Conference 2026
Jun 5, 2026
PNB Housing Finance executives, including the chief financial officer and head of corporate planning and investor relations, met analysts and institutional investors during the Citi India Conference 2026 to discuss the company’s business str...
PNB Housing Finance Engages Global Investors at Goldman Sachs Asia Financials Event
Jun 4, 2026
PNB Housing Finance Limited disclosed that its Managing Director and CEO Ajai Kumar Shukla, Chief Financial Officer Vinay Gupta, and National Head of Corporate Planning Investor Relations Chaitanya Yadav participated in a virtual group meeting at...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.