PNB Housing Finance (PNBHOUSING) investor relations material

Executive summary

• Q1 FY27 began with steady performance, driven by a retail-focused model and disciplined execution, with unaudited standalone and consolidated results approved by the Board.

• Disbursements grew 18% YoY to INR 5,882 crore, with a 56% YoY growth on a comparable check handover basis due to a change in recognition.

• Retail loan book rose 16% YoY to INR 89,178 crore; overall loan book up 15% YoY to INR 89,670 crore.

• PAT increased 4% YoY to INR 557 crore; ROA at 2.37%, ROE at 11.44%.

• Asset quality remains strong with gross NPA at 0.95%; INR 67 crore recovered from written-off pool.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was ₹2,263.44 crore, up from ₹2,181.53 crore in Q1 FY26.

• Net interest income grew 6% YoY to INR 803 crore; gross margin up 9% YoY.

• Operating expenses increased 10% YoY to INR 237 crore; OpEx to ATA declined to below 1%.

• Negative credit cost of 12 bps due to healthy recoveries.

• EPS (Basic, consolidated) for Q1 FY27 was ₹21.39.

Outlook and guidance

• Margins and yields are expected to have bottomed out, with improvement anticipated from H2 FY27.

• Full-year guidance maintained: 18%-20% overall book growth, 50%-60% growth in affordable loan book.

• ROA guidance for FY27 at 2.4%, expected to normalize to 2.3% as credit costs normalize next year.

• Focus on high-yielding affordable and emerging markets segments to improve yield and NIM.

• No deviation or variation in the utilization of issue proceeds; all funds raised were used as intended.