PNB Housing Finance Limited (PNBHOUSING) AI Stock Analysis

• Market Cap: ₹205.29B
• Dividend Yield: 0.53%
• Average Volume (3M): 28.57K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 1.39
• 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): 85.37
• Revenue Forecast (FY): ₹35.22B

• Rating: 69 Neutral
• Price Target: ₹854.00 ▼(-1.83% Downside)
• Action: Reiterated Date: 10/21/25
• Date: Action: Reiterated 10/21/25

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

Revenue growth and margins

Sustained top-line expansion and healthy gross/EBIT margins point to growing loan origination and operational efficiency. Over the medium term this underpins internal reinvestment, supports provisioning capacity, and improves resilience of interest income streams.

Return on equity / capital efficiency

Robust ROE implies disciplined capital allocation and the ability to generate profitable lending from equity. This efficiency supports organic growth, cushions credit shocks, and makes raising incremental capital less dilutive, aiding long-term franchise stability.

Secured mortgage-focused business model

A portfolio concentrated in secured, real-estate backed lending yields lower loss severity and predictable interest income versus unsecured products. The diversified mortgage product mix (home loans, LAP) supports steady origination flows and predictable collateral recoveries.

Negative Factors

High leverage

Elevated leverage increases sensitivity to rising funding costs and refinancing risk. For a housing finance firm, heavy debt dependence can compress net interest margins and reduce strategic flexibility during stressed funding cycles, raising medium-term balance sheet risk.

Negative free cash flow

Persistent negative free cash flow forces reliance on external funding to support loan growth and obligations. That heightens liquidity and roll-over risk, limits ability to deleverage or invest organically, and can constrain dividend or capital return policies over months ahead.

Volatile net profitability

Variability in net margins reduces earnings predictability and complicates provisioning and capital planning. For lenders this may reflect cyclical credit costs or funding swings, which can impair sustained capital generation and strategic decision-making in the medium term.

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 primarily makes money by earning interest and fees from lending activities, funded through a mix of borrowings and other funding sources typical for housing finance companies. 1) Net interest income (core earnings): The largest driver is the spread between (a) interest earned on its loan portfolio (home loans, loan against property, and other secured/real-estate backed loans) and (b) interest paid on its liabilities (such as bank/NBFC borrowings, market borrowings like bonds/debentures, and other funding). Managing this net interest margin depends on loan yields, funding costs, and the mix of fixed vs. floating rate assets/liabilities. 2) Fee and other income: The company earns non-interest revenue from charges linked to originating and servicing loans, such as processing fees, administrative/service charges, and other customer/loan-related fees. It may also earn income from ancillary activities connected to loan servicing and documentation; if specific line-item details are not publicly available in the prompt, null. 3) Treasury/investment income (where applicable): As a financial institution, it may generate income from investments and treasury operations (e.g., interest on investments, gains/losses on sale/valuation of financial instruments), depending on portfolio positioning and market conditions; if specific breakdown is not available in the prompt, null. 4) Credit costs and recoveries influence profitability: While not a revenue line, earnings are significantly affected by loan losses/impairments (provisions) and recoveries from delinquent accounts. Lower credit costs increase net profitability from the same interest and fee income. Significant factors influencing earnings include loan growth in retail housing and LAP, asset quality and provisioning levels, the company’s ability to access diversified, competitively priced funding, and interest-rate movements that affect both lending yields and borrowing costs.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	80.06B	75.02B	70.34B	64.29B	61.81B	75.96B
Gross Profit	31.63B	29.62B	27.84B	25.41B	21.25B	25.12B
EBITDA	27.21B	25.42B	20.05B	14.12B	11.37B	12.66B
Net Income	21.49B	19.36B	15.08B	10.46B	8.36B	9.30B
Balance Sheet
Total Assets	857.56B	825.20B	724.05B	668.74B	657.30B	713.92B
Cash, Cash Equivalents and Short-Term Investments	30.02B	36.00B	26.07B	37.88B	52.33B	69.69B
Total Debt	469.13B	446.68B	376.87B	368.08B	354.26B	432.72B
Total Liabilities	677.86B	656.57B	574.30B	558.60B	558.58B	624.69B
Stockholders Equity	179.71B	168.63B	149.74B	110.14B	98.72B	89.23B
Cash Flow
Free Cash Flow	-38.87B	-81.06B	-47.01B	-18.80B	62.41B	67.84B
Operating Cash Flow	-38.71B	-80.57B	-46.62B	-18.65B	62.56B	67.92B
Investing Cash Flow	2.71B	7.57B	-11.86B	1.76B	-14.75B	205.50M
Financing Cash Flow	28.68B	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: Negative
• RSI: Neutral
• 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 above the 20-day moving average (MA) of 803.02, above the 50-day MA of 855.55, and below the 200-day MA of 909.30, indicating a bearish trend. The MACD of -20.56 indicates Negative momentum. The RSI at 43.93 is Neutral, neither overbought nor oversold. The STOCH value of 75.50 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	₹205.29B	11.91	―	0.53%	12.51%	27.75%
HOMEFIRST	66 Neutral	₹99.99B	20.38	―	0.33%	31.75%	21.70%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
HUDCO	62 Neutral	₹343.33B	16.02	―	2.92%	30.25%	13.67%
APTUS	58 Neutral	₹105.08B	14.79	―	1.60%	28.47%	24.63%
SRGHFL	56 Neutral	₹3.95B	14.15	―	―	25.40%	-2.19%
AAVAS	53 Neutral	₹87.54B	17.04	―	―	―	―

PNB Housing Finance Limited Corporate Events

PNB Housing Finance to Join Morgan Stanley Virtual Investor Meet on India Financials

PNB Housing Finance Limited has announced that its officials will participate in a virtual group investor meeting focused on India financials hosted by Morgan Stanley on March 16, 2026. The company will use previously disclosed investor presentations, and the engagement underscores its ongoing efforts to maintain transparent communication with institutional investors and comply with securities disclosure norms.

The planned interaction, which may be rescheduled if required, signals the company’s continued emphasis on investor outreach and market visibility within the housing finance sector. By directing stakeholders to existing investor materials and updating exchanges under regulatory provisions, PNB Housing Finance reinforces its commitment to disclosure standards and structured engagement with the investment community.

PNB Housing Finance Engages Investors at IIFL Global Conference, Reaffirms Transparent Disclosures

PNB Housing Finance Limited reported that its Managing Director and CEO, Ajai Kumar Shukla, and Chief Financial Officer, Vinay Gupta, took part in one-on-one and group meetings with analysts and institutional investors at IIFL’s 17th Enterprising India Global Investors conference in Mumbai on February 24, 2026. Discussions centered on the company’s business strategy, margins, asset quality, government schemes, return profile and future outlook, and the company emphasized that only information already available in previously published investor materials and disclosures was shared, with no unpublished price-sensitive information communicated, underscoring its adherence to regulatory requirements and transparent engagement with key market stakeholders.

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.