PNB Housing Finance

** Housing finance company PNB Housing Finance's shares PNBH.NS rise as much as 6.85% to 1154 rupees, a 23-month high; stock last up 5%

** Uptick comes after PNBH reported a 4.5% rise in the June quarter profit on strong credit demand, on Tuesday after market close

** J.P.Morgan analysts reiterate "overweight" recommendation, citing solid core trends, stable asset quality

** Quarterly disbursement growth y/y and sequential improvement in loan yields are key positives from PNBH's earnings, confirming underlying turnaround, JPM says

** UBS also retains "buy" call after results, citing steady growth in assets under management (AUM) and disbursements

** Average rating of 12 analysts tracking PNBH is "buy"; median PT 1,200 rupees, according to data compiled by LSEG

** PNBH shares are up 19.3% in 2026 so far, according to exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 4 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• PNB HOUSING JUNE-QUARTER CONSOL NET PAT 5.57 BILLION RUPEES

• PNB HOUSING JUNE-QUARTER CONSOL INTEREST INCOME 21.38 BILLION RUPEES

Source text: [ID:]

Further company coverage: PNBH.NS

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** Affordable housing finance companies (AHFCs) are at start of strong earnings upcycle, with asset quality and idiosyncratic concerns largely resolved, says Morgan Stanley

** AHFCs' disbursement growth poised to pick up in FY27, as early as Q1 FY27 - brokerage says

** Brokerage expects AUM growth of 21-25% Y/Y as transient headwinds, including U.S. trade tariffs, MSME stress, irregular weather ease; raises EPS forecasts by 1-5% across coverage on higher loan growth assumptions

** Morgan Stanley's top picks are Aptus Value Housing Finance APTS.NS, Home First Finance HOME.NS PNB Housing Finance PNBH.NS

** Raises PTs by 2.5% on APTS, 4.1% on HOME, 12.4% on PNBH

** Also lifts PT by 2.9% on Can Fin Homes CNFH.NS, 4.4% on Aavas Financiers AVAS.NS

** HOME, APTS, CNFH stocks up 1-3%, while PNBH, AVAS down 0.3-1.2%

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

PNB Housing Finance's board, in a meeting on July 10, approved a proposal to issue non-convertible debentures aggregating up to ₹10,000 crore on a private placement basis, subject to shareholder approval at the upcoming annual general meeting. The resolution, to be placed before the 38th AGM, authorises the company to raise the debt in one or more tranches, with detailed terms to be finalised after member approval. Separately, the board fixed July 31 as the record date for determining shareholders eligible to receive a dividend for the financial year 2025-26, recommended alterations to the articles of association, and appointed Shreekant and Rajiv Kumar Singh as additional independent directors for three-year terms.

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MUMBAI, July 8 (Reuters) - India's PNB Housing Finance PNBH.NS has accepted bids worth 5 billion rupees ($52.33 million)for bonds maturing in three years and one month, three bankers said on Wednesday.

It will pay a coupon of 7.83% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 8:

*Size includes base plus greenshoe for some issues

($1 = 95.5550 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

(([email protected]))

MUMBAI, July 7 (Reuters) - India's PNB Housing Finance PNBH.NS plans to raise up to 5 billion rupees ($52.46 million) through a sale of bonds maturing in three years and one month, three bankers said on Tuesday.

It will pay a coupon of 7.83%, and has invited commitment bids for the issue on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 7:

* Size includes base plus greenshoe for some issues

($1 = 95.3050 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

(([email protected], [email protected]))

July 6 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• PNB HOUSING - TO CONSIDER FUNDRAISING VIA NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT

Source text: ID:nBSEbzy051

Further company coverage: PNBH.NS

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MUMBAI, June 8 (Reuters) - India's PNB Housing Finance PNBH.NS accepted bids worth 5 billion rupees ($52.24 million) for the sale of five-year bonds, three bankers said on Monday.

It will pay a coupon of 8.35% annually and had invited commitment bids for the issue on Friday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far June 8:

*Size includes base plus greenshoe for some issues

($1 = 95.7075 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Eileen Soreng)

(([email protected], [email protected]))

MUMBAI, June 4 (Reuters) - India's PNB Housing Finance PNBH.NS plans to raise up to 5 billion rupees ($52.21 million), including a greenshoe option of 1 billion rupees, through the sale of bonds maturing in five years, three bankers said on Thursday.

It will pay a coupon of 8.35% annually and has invited commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 4:

*Size includes base plus greenshoe for some issues

($1 = 95.7600 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

** Shares of PNB Housing Finance PNBH.NS rise 1.3% to a more than eight-month high of 1,021 rupees

** Morgan Stanley raises PT on to 1,250 rupees from 1,160 rupees

** Q4 showing had changed the narrative around the stock, says MS, which had earlier believed the stock was pricing in no improvement in business after Q3

** Adds, good execution on multiple fronts in Q4 lessened investor pessimism; a key driver of renewed confidence is its improving credit profile

** PNBHF posted 19% rise in Q4 profit, net interest income rose 10.8%

** Brokerage also flags co's positioning in a potential rate-hike scenario as a positive differentiator

** Sees potential for outsized absolute returns in select small housing finance companies with lower credit risk, better growth, and better return of equity than peers

** Stock up 7.4% YTD, and trades at a slight discount compared to peers - data compiled by LSEG

(Reporting by Pranav Kashyap in Bengaluru)

(([email protected]; +919886482111;))

** Indian non-banking finance firm PNB Housing Finance PNBH.NS rises 6% to hit over a three-month high of 959.20 rupees

** PNB Housing's fourth-quarter consol net profit at 6.56 billion rupees ($70.44 million), up from 5.50 billion rupees a year earlier

** PNBH's asset quality also improved; company saw strong home-loan demand, with its prime segment, comprising mostly urban borrowers, jumping 43% y-o-y

** JPMorgan says this is a good set of numbers expects the stock to move up; notes a positive for growth and risk-adjusted NIMs going forward

** Morgan Stanley titles their note "Strong Quarter; Self-help, Inexpensive, Defensive" and flags that results "strengthen our thesis," with meaningful upside

** Sees potential for outsized absolute returns in select small HFCs with much lesser credit risks, better growth and ROE than other lenders, yet trading at dislocated valuations

** Even Investec acknowledges PNB Housing trades relatively on the cheaper side, but their Hold is premised on the view that growth sustainability is the key to re-rating

(Reporting by Pranav Kashyap in Bengaluru)

(([email protected]; +919886482111;))

April 20 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• PNB HOUSING FINANCE Q4 CONSOL NET PAT 6.56 BILLION RUPEES

• PNB HOUSING FINANCE Q4 CONSOL INTEREST INCOME 20.54 BILLION RUPEES

• PNB HOUSING - RECOMMENDS FINAL DIVIDEND OF 8 RUPEES PER SHARE FOR YEAR ENDED MARCH 31, 2026

Source text: ID:nnAZN4SRPHR

Further company coverage: PNBH.NS

(([email protected];))

** Shares of India's PNB Housing Finance PNBH.NS fall as much as 6.1% to 873.85 rupees; set for a fifth session of drop

** Analysts say Q3 earnings missed estimates due to weak disbursement growth and high operational expenses

** Motilal Oswal Financial Services says disbursements in affordable housing segment down ~15% y/y and 4% q/q

** Housing financier's third quarter profit up 7.7%, while revenue rose 9% y/y

** Meanwhile, co reported fraud worth 2.34 bln rupees related to Sarv realtors, but said amount already written off in fiscal 2022-23

** Stock on avg rated "buy" by 11 analysts; median PT 1,170 rupees

** Stock up 8.4% in 2025

(Reporting by Abhirami G in Bengaluru)

(([email protected]))

Jan 21 (Reuters) - India's PNB Housing Finance PNBH.NS posted a 7.7% rise in third-quarter profit on Wednesday, supported by healthy loan growth in smaller cities amid intensifying competition in the mortgage lending space.

The non-banking finance company (NBFC) reported consolidated net profit after tax of 5.20 billion rupees ($56.8 million) for the quarter ended December 31, compared with 4.83 billion rupees a year earlier. Total revenue increased 9% to 21.19 billion rupees.

PNB Housing has expanded aggressively into the non-premium and affordable lending space in recent quarters, where loans typically command higher interest rates due to lower competition from big banks. However, that advantage may be eroding, as analysts said competition in the affordable segment from larger lenders is picking up.

Meanwhile, the prime segment, which generally includes loans in larger cities, continued to face stiff competition.

Disbursements in PNB Housing's emerging markets segment, which caters to smaller cities with an average loan ticket size of around 2.5 million rupees, rose 25% year-on-year to 21.49 billion rupees, while the prime segment grew 20%.

However, disbursements in its affordable loans segment, which caters to borrowers with monthly household incomes as low as 10,000 rupees, fell 15%, with overall disbursements rising 16%.

The company said the decline in affordable segment was due to ticket size capping in select geographies.

Net interest income, the difference between interest earned and paid, rose 11% to 7.72 billion rupees. Asset quality also improved, with gross bad loans as a percentage of total loans declining to 1.04% at the end of December from 1.21% a year earlier.

($1 = 91.6270 Indian rupees)

(Reporting by Nishit Navin; Editing by Ronojoy Mazumdar and Vijay Kishore)

(([email protected];))

** Shares of PNB Housing Finance PNBH.NS rise 1.7% to 948.9 rupees

** India Ratings and Research assigns a stable AAA rating to the non-banking financier's new borrowings and reaffirms the same rating on its existing debt

** Stock rated "buy" on avg; median PT 1100 rupees - data compiled by LSEG

** Stock up 7.5% YTD

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of PNB Housing Finance PNBH.NS plunge 15.4% to four-month low of 834 rupees

** Set for biggest daily pct drop since Oct 2018

** Housing finance co says MD and CEO Girish Kousgi resigns; to step down on Oct 28

** SBI Securities says CEO resignation a negative for stock in near-term

** Trading volume at 8 million shares, nearly 7x 30-day average

** YTD, stock down 5%

(Reporting by Vivek Kumar M)

(([email protected];))

** Shares of PNB Housing Finance PNBH.NS rise as much as 2.84% to 1,115 rupees

** The housing finance lender posts a 23% rise in first-quarter profit after market hours on Monday, helped by steady home loan demand

** Total loan disbursements jump 14% in the June quarter, with those for affordable housing growing 30%

** Trading volume 1.52 mln shares, as of 9:42 a.m. IST, about 1.8 times the 30-day average, data compiled by LSEG shows

** PNBH shares up 23.5% in 2025 so far, outperforming the 1% rise in the small-cap index .NIFSMCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

July 21 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• PNB HOUSING FINANCE JUNE QUARTER CONSOL NET PAT 5.34 BILLION RUPEES

• PNB HOUSING FINANCE JUNE QUARTER CONSOL REVENUE FROM OPERATIONS 20.76 BILLION RUPEES

Source text: [ID:]

Further company coverage: PNBH.NS

(([email protected];))

** Home First Finance Company India HOME.NS up 5%, Aadhar Housing Finance AADA.NS up 1.3%

** Aptus Value Housing Finance India APTS.NS gains 1.4%, PNB Housing Finance PNBH.NS inches up 0.3%

** Aavas Financiers AVAS.NS down 0.5%

** Bernstein initiates coverage on affordable housing financiers, with "outperform" ratings on HOME, APTS, and AADA, and "market-perform" on AVAS and PNBH

** Expects next leg of retail credit growth to be led by mortgages - Bernstein

** "Specialised lenders focused on low-income, informally employed borrowers.. stand to gain share in this segment"; "The segment remains attractive with good profitability and growth" - note

** YTD HOME and APTS up 36% and ~19% respectively, AADA rises 8%

** PNBH and AVAS gains ~26% and ~17% so far in 2025

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

May 2 (Reuters) - U.S. private equity group Carlyle Group has sold its entire 10.44% stake in India's PNB Housing Finance PNBH.NS via block deals, business news website Moneycontrol reported on Thursday, citing a termsheet.

Carlyle is the second-largest shareholder in the non-banking finance company and held its stake via an affiliate called Quality Investment Holdings, latest available exchange data showed.

"The block trade has been launched at a floor price of 960 rupees per share," Moneycontrol also reported, citing a person familiar with the development.

About 17.3 million PNB Housing shares, or roughly 60% of the reported block deal, were sold in early trade, stock exchange data showed, but did not name the seller or the buyers.

The shares were sold at 1,000.20 rupees each, a near 1% discount to the stock's last close on Wednesday.

Carlyle Group and PNB Housing Finance did not immediately respond to Reuters requests for comment. Reuters did not have immediate access to the termsheet or further details of the deal.

Shares of PNB Housing, however, rose 6% on Friday.

($1 = 83.8300 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected]; X: @MukherjeeHritam;))

April 28 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• Q4 CONSOL NET PAT 5.5 BILLION RUPEES

• Q4 CONSOL INTEREST INCOME 19.06 BILLION RUPEES

• DIVIDEND OF 5 RUPEES PER SHR

Source text: [ID:]

Further company coverage: PNBH.NS

(([email protected];;))

** PNB Housing Finance PNBH.NS climbs 5.1%, Axis Bank AXBK.NS gains 2% and SBI SBI.NS rises 2.4% amid broader market recovery

** On Monday, PNBH, SBI fell 2.7% each; AXBK dropped 4%

** Goldman Sachs raises PNBH and AXBK to "buy" from "neutral"; upgrades SBI to "neutral" from "sell"

** Expects AXBK's loan growth and profitability to accelerate in H2 FY26–FY27

** Sees PNBH benefiting from strategic shift to below-prime and affordable housing segments

** Forecasts balanced risk-reward for SBI after recent correction; revises PT to 823 rupees from 806 rupees

** AXBK and SBI lead financials .NIFTYFIN 0.7% higher; PNBH among top gainers on Nifty 500 .NIFTY500

** YTD, AXBK falls 1.6%, SBI sheds 6% vs NIFTYFIN's 2.4% rise; PNBH gains 5.2%

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Corrects to Thursday from Wednesday in first paragraph

Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.

Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.

The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.

Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.

"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.

On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.

Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.

In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.

The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.

Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.

Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.

However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.

"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Jan 21 (Reuters) - India's PNB Housing Finance PNBH.NS reported a 43% jump in third-quarter profit on Tuesday, helped by strong demand for home loans.

The housing financier reported consolidated net profit of 4.83 billion rupees($55.8 million) for the quarter ended Dec. 31, compared to 3.38 billion rupees a year ago.

Demand for homes in India, especially premium residences, has remained strong over the last few quarters. Analysts said the affordable segment is also seeing a pick up, aided by the government's push for low-cost housing.

Additionally, home prices in India are set to rise steadily over the next few years, driven by demand for luxury properties from cash-rich individuals, according to a Reuters poll of housing experts.

PNB Housing's retail loan disbursements jumped 31%, boosting the total disbursements by 30% to 53.80 billion rupees.

The company has expanded its focus on affordable housing in the last few quarters to increase its profitability, as the segment can command higher interest rates due to lower competition from big banks.

Disbursements in the affordable housing segment rose 127% year-on-year, while the premium segment, which accounts for around 60% of total disbursements, rose 15%.

The company's net interest income, the difference between interest earned and paid, rose 17% to 6.96 billion rupees, while gross bad loans as a percentage of total loans improved to 1.19% from 1.73%.

($1 = 86.5740 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Varun H K)

(([email protected];))

** PNB Housing Finance PNBH.NS falls 6.6% to 919.9 rupees; set for worst one-day pct fall since June 4

** Quality Investment Holdings, which holds 19.87% stake in PNBH, will likely sell 9.43% of its share at 939.3 rupees, a 4.3% discount to last close, CNBC-TV18 reports

** Morgan Stanley appointed as banker to manage deal, report adds

** PNBH did not immediately respond to Reuters request for comment

** Stock sees busiest session since Nov. 7, 2016; nearly 27 mln shares traded, ~18x its 30-day avg

** PNBH rated "buy" on avg; median PT is 1,200 rupees - LSEG

** Stock up ~18% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Oct 28 (Reuters) - India's LIC Housing Finance LICH.NS reported a bigger-than-expected second-quarter profit on Monday, helped by steady demand for its home loans.

The company said its profit after tax rose about 12% to 13.29 billion rupees ($158.1 million) for the quarter ended Sept. 30, outpacing analysts' expectation of 12.26 billion rupees, per data compiled by LSEG.

The firm is 45%-owned by Life Insurance Corporation of India LIFI.NS, the country's top insurer.

Demand for homes in India, especially in the luxury category, is steadily rising, which, in turn, is fuelling demand for home loans.

The affordable housing segment is also seeing a pick up, helped by the government's push for low-cost housing.

As a result, LIC Housing's total loan disbursements grew 12% to 164.76 billion rupees during the second quarter.

"With stable interest rates, we expect steady growth in the next two quarters," the company said in statement.

However, its net interest income - the difference between interest earned and paid - fell 6% to 19.74 billion rupees as its finance costs rose during the quarter.

LIC Housing's net interest margin (NIM), a key gauge for profitability, shrunk for the second consecutive quarter to 2.71% from 2.76% in the first quarter due to increasing competition in the home finance sector, according to analysts.

It reported an NIM of 3.04% for the second quarter last year.

Rivals PNB Housing Housing PNBH.NS and newly-listed Bajaj Housing Finance BAJO.NS also reported a rise in quarterly profit, supported by higher demand for home loans.

Shares of LIC Housing ended 3.4% higher after its results.

($1 = 84.0725 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru; Editing by Sonia Cheema)

(([email protected];))

** Shares of PNB Housing Finance PNBH.NS rise 10.8% to 1,035 rupees; last up 2.8%

** Co's Q2 consol profit rose 22.6%, rev up 5.7%

** PNBH sees busiest day in over five weeks, with over 6.5 mln shares traded

** Analysts' avg rating on stock is "buy;" their median PT is 1,012.5 rupees - LSEG data

** Peer LIC Housing Finance LICH.NS largely flat on the day

** Stock up 23% YTD vs 12% gain in LIC Housing Finance

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Oct 24 (Reuters) - PNB Housing Finance Ltd PNBH.NS:

• Q2 CONSOL NET PAT 4.7 BILLION RUPEES

• Q2 CONSOL INTEREST INCOME 17.80 BILLION RUPEES

Source text for Eikon: ID:nBSE9K77Lk

Further company coverage: PNBH.NS

(([email protected];;))

** Shares of Bajaj Housing Finance BAJO.NS slip 0.3%, set to fall for a fifth straight session

** HSBC Research initiates coverage of stock with a "reduce" rating and a TP of 110 rupees, implying a 27% downside to its last close

** Sees pressure on return on assets due to likely margins compression and moderation in earnings growth, in both home loan and non-home loan segments

** Brokerage forecasts BAJO's AUM growth slowing to 26% CAGR over FY24-27, from 34% in FY21-24

** EPS growth to also drop to 17% compared to 41%

** Stock down 9% since closing at 165 rupees on listing day

** Since BAJO's listing, rival PNB Housing PNBH.NS is down 16.5%, while LIC Housing LICH.NS has fallen by 12.5%

(Reporitng by Nishit Navin)

(([email protected];))

MUMBAI, Sept 23 (Reuters) - India's PNB Housing Finance PNBH.NS plans to raise 4 billion rupees ($47.93 million) through the sale of bonds maturing in three years and four months, three bankers said on Monday.

It has invited coupon and commitment bids for the issue on Tuesday, they said.

Here is the list of deals reported so far on Sept. 23:

*Size includes base plus greenshoe for some issues

($1 = 83.4590 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

(([email protected]))