PNB Housing Finance Limited (PNBHOUSING) AI Stock Analysis

• Market Cap: ₹214.13B
• Dividend Yield: 0.53%
• Average Volume (3M): 28.57K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 1.43
• Revenue Growth: 12.51%
• EPS Growth: 27.75%
• Country: IN
• Employees: 2,003
• Sector: Real Estate
• Sector Strength: 53
• Industry: Financial - Mortgages
• EPS (TTM): 19.97
• Shares Outstanding: 260,508,580
• 10 Day Avg. Volume: 35,262
• 30 Day Avg. Volume: 28,566
• PEG Ratio: 0.42
• Price to Book (P/B): 1.34
• Price to Sales (P/S): 3.02
• P/FCF Ratio: -2.80
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹1,068.00 ▲(22.77% Upside)

PNB Housing Finance Limited's overall stock score is driven by its strong financial performance, despite high leverage and negative cash flow trends. The technical indicators suggest neutral to positive momentum, while the valuation indicates potential undervaluation. The absence of earnings call and corporate events data means these factors do not influence the score.

Positive Factors

Sustained revenue growth

Double-digit revenue growth indicates ongoing expansion of the loan book and customer adoption. Over a 2–6 month horizon this scale supports cover for fixed costs, funds incremental investment in distribution and products, and provides a broader base to absorb credit cycles.

Healthy operating margins

Sustained gross and EBIT margin strength points to efficient underwriting and cost control. Margin durability provides a buffer against rising funding costs or credit losses, supporting consistent internal cash generation and reinvestment capacity over the medium term.

Parent bank affiliation and mortgage focus

Being a PNB subsidiary and concentrated on mortgages gives structural advantages: stronger distribution credibility, potential access to funding lines and referrals, and specialization in housing finance aligned with secular housing demand, supporting stable origination pipelines.

Negative Factors

High leverage exposure

A relatively high debt-to-equity ratio raises interest expense sensitivity and refinancing risk if rates or credit spreads rise. Elevated leverage limits financial flexibility, increases capital strain under stress, and can constrain growth or require higher provisioning during downturns.

Negative free cash flow trend

Persistent negative free cash flow means the firm is investing or operating beyond internally generated cash and must rely on external funding. That dependence increases vulnerability to funding cost shocks and could restrict capital returns or deleveraging options over the medium term.

Volatile net profit margins

Variation in net margins reduces earnings predictability and complicates capital planning. For a lender, margin volatility often reflects fluctuating credit costs or provisioning, which can erode sustainable returns and make dividend and reinvestment policies harder to maintain reliably.

PNB Housing Finance Limited Business Overview & Revenue Model

Company Description

PNB Housing Finance Limited operates as a housing finance company in India. It provides loans to individuals and corporate bodies for purchase, construction, repair, and up-gradation of houses/flats/commercial properties; residential plot loans and loans for NRIs; loan against property, lease rental discounting, and loans for real estate developers; and fixed deposit products. The company also provides Unnati home loans; and credit linked subsidy scheme for economical weaker section, and lower and middle income groups. As of March 31, 2022, it operated through a network of 99 branches. The company was incorporated in 1988 and is based in New Delhi, India.

How the Company Makes Money

PNB Housing Finance Limited generates revenue primarily through the interest earned on the loans it extends to customers. The main revenue streams include home loans, which comprise a significant portion of its loan portfolio, and loan against property, where the company provides financing against the value of an individual's property. Additionally, PNBHOUSING earns fees from processing and administrative services associated with loan disbursements. The company may also benefit from partnerships with real estate developers and other financial institutions, enhancing its market reach and enabling it to cross-sell financial products. Factors contributing to its earnings include the overall growth of the housing market in India, favorable interest rates, and the company's ability to manage credit risk effectively.

PNB Housing Finance Limited Financial Statement Overview

Summary

PNB Housing Finance Limited shows strong revenue growth and profitability metrics, but its high leverage and negative cash flow trends warrant caution. The company's financial health is supported by effective equity utilization, yet the reliance on debt and challenges in cash flow management may impact future stability.

Income Statement

The company exhibits strong revenue growth with total revenue rising significantly year-over-year. The gross profit margin and EBIT margin are healthy, indicating efficient operations. However, the net profit margin shows some volatility, reflecting potential challenges in maintaining consistent profitability.

Balance Sheet

The company's debt-to-equity ratio is relatively high, suggesting a heavy reliance on debt financing, which could pose risks if interest rates rise. The return on equity is robust, indicating effective use of shareholder capital. However, the equity ratio is modest, pointing to a moderate level of financial stability.

Cash Flow

The cash flow situation is concerning, with negative free cash flow in recent years indicating that the company is spending more on operations and investments than it is generating. The operating cash flow to net income ratio is also negative, suggesting potential cash flow management issues.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	77.52B	75.02B	70.34B	64.29B	61.81B	75.96B
Gross Profit	30.74B	29.62B	27.84B	25.41B	21.25B	25.12B
EBITDA	26.77B	25.42B	20.05B	14.12B	11.37B	12.66B
Net Income	20.37B	19.36B	15.08B	10.46B	8.36B	9.30B
Balance Sheet
Total Assets	0.00	825.20B	724.05B	668.74B	657.30B	713.92B
Cash, Cash Equivalents and Short-Term Investments	0.00	36.00B	26.07B	37.88B	52.33B	69.69B
Total Debt	0.00	446.68B	376.87B	368.08B	354.26B	432.72B
Total Liabilities	-168.63B	656.57B	574.30B	558.60B	558.58B	624.69B
Stockholders Equity	168.63B	168.63B	149.74B	110.14B	98.72B	89.23B
Cash Flow
Free Cash Flow	0.00	-81.06B	-47.01B	-18.80B	62.41B	67.84B
Operating Cash Flow	0.00	-80.57B	-46.62B	-18.65B	62.56B	67.92B
Investing Cash Flow	0.00	7.57B	-11.86B	1.76B	-14.75B	205.50M
Financing Cash Flow	0.00	74.04B	41.79B	3.01B	-66.84B	-81.78B

PNB Housing Finance Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 869.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNBHOUSING, the sentiment is Negative. The current price of 869.95 is below the 20-day moving average (MA) of 924.64, below the 50-day MA of 919.22, and below the 200-day MA of 942.58, indicating a bearish trend. The MACD of -31.71 indicates Positive momentum. The RSI at 29.94 is Positive, neither overbought nor oversold. The STOCH value of 21.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PNBHOUSING.

PNB Housing Finance Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PNBHOUSING	69 Neutral	₹214.13B	9.78	―	0.53%	12.51%	27.75%
HOMEFIRST	67 Neutral	₹122.55B	23.73	―	0.33%	31.75%	21.70%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AAVAS	64 Neutral	₹115.25B	19.10	―	―	―	―
HUDCO	62 Neutral	₹383.66B	13.80	―	2.92%	30.25%	13.67%
APTUS	58 Neutral	₹138.03B	16.35	―	1.60%	28.47%	24.63%
SRGHFL	56 Neutral	₹4.37B	15.84	―	―	25.40%	-2.19%

PNB Housing Finance Limited Corporate Events

PNB Housing Finance posts analyst call audio for Q3 and nine-month FY26 results

PNB Housing Finance Limited has notified the stock exchanges that the audio recording of its analyst conference call, held on 22 January 2026 to discuss the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, has been made available online. The company has provided a web link for accessing this recording and stated that the disclosure has been made in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, reinforcing its transparency and ongoing communication with investors and other stakeholders through its website.

PNB Housing Flags Rs 237 Crore Fraud in Already Written-Off Account

PNB Housing Finance Limited has reported that it has identified and declared a fraud related to the account of M/s Sarv Realtors Private Limited amounting to Rs 237.43 crore, in line with regulatory requirements under SEBI’s Listing Regulations. The company has clarified that this account had already been written off in the financial year 2022-23, and therefore the fraud identification is not expected to have any material impact on its overall financials or operations, while it continues to pursue appropriate legal action and has informed the National Housing Bank.

PNB Housing Finance Schedules Q3 and Nine-Month FY26 Earnings Call for January 22

PNB Housing Finance Limited has announced that it will host an earnings conference call with investors on January 22, 2026, to discuss its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The management team will participate in the call, and an investor presentation will be shared with the stock exchanges ahead of the event, signalling the company’s ongoing engagement with capital markets and providing stakeholders an opportunity to assess its recent financial and operating performance.

PNB Housing Finance Faces Rs 108 Crore Tax Demand, Sees No Material Impact

PNB Housing Finance has disclosed a tax litigation involving an order from the Income Tax Department for assessment years 2019-20 and 2020-21, arising from a search conducted on a third party, which disallows certain revenue expenses and deductions and results in a demand of about Rs 108 crore. The company says the order contains inadvertent errors, including incorrect tax rates, and plans to file a rectification application while noting that the disallowances merely reiterate issues already contested in an appeal before the Income Tax Appellate Tribunal; based on its assessment, PNB Housing Finance does not expect any material financial impact from this dispute.

PNB Housing Finance Allots Rs. 245 Crore in NCDs to Bolster Financial Position

PNB Housing Finance Limited has announced the allotment of Non-Convertible Debentures (NCDs) worth Rs. 245 Crore through a private placement. These NCDs are listed, secured, rated, taxable, and redeemable, with a tenure of 2 years and 6 months, and a coupon rate of 7.28%. This strategic move is expected to strengthen the company’s financial position and enhance its ability to meet future funding requirements, thereby positively impacting its operations and market standing.

PNB Housing Finance Announces Key Management Change

PNB Housing Finance Limited has announced a significant change in its management team with the superannuation of Mr. Ajay Kumar Mohanty, who served as the Head of Internal Audit and Chief of Internal Vigilance. Effective November 30, 2025, Mr. Vipin Malhotra will take over the Internal Audit function. This transition is part of the company’s compliance with SEBI regulations and reflects its ongoing commitment to maintaining robust internal controls and governance standards.

PNB Housing Finance Secures Strong CRISIL Ratings

PNB Housing Finance Limited announced that CRISIL Ratings has assigned a ‘Crisil AA+/Stable’ rating to its INR 3,410 Crore non-convertible debentures and increased the rated amount for its bank loan facilities from INR 4,000 Crore to INR 9,000 Crore. This reaffirmation and enhancement of ratings reflect the company’s strong credit profile and stability, potentially boosting investor confidence and supporting its financial operations.

PNB Housing Finance Releases Analyst Presentation Recording

PNB Housing Finance Limited announced the availability of an audio recording of its analyst presentation for the quarter and half year ended September 30, 2025. This release provides stakeholders with insights into the company’s financial performance and strategic direction, potentially impacting investor confidence and market positioning.