PNB Housing Finance (PNBHOUSING) Q4 25/26 earnings summary

Executive summary

• Retail loan assets grew 16% YoY to INR 86,946 crore, with Affordable and Emerging Markets segments contributing 40% to the portfolio; strong growth driven by urbanization, affordability, and government initiatives, especially in tier 2 and 3 cities.

• Digital transformation and AI-enabled processes, including Infinity Application, improved efficiency and customer experience.

• Corporate segment revived with INR 335 crore disbursed in Q4 FY26.

• Branch network expanded to 393, with 80% in Affordable and Emerging Markets.

• Gross NPA improved to 0.93% in Q4 FY26, achieving sub-1% milestone.

Financial highlights

• Q4 FY26 retail disbursements reached INR 9,355 crore, up 32% YoY and 50% QoQ; full-year retail disbursements grew 19% YoY.

• Net profit after tax for FY26 was INR 2,291 crore, up 18% YoY; Q4 PAT was INR 656 crore, up 19% YoY.

• Net interest income for FY26 was INR 3,110 crore, up 13% YoY; NIM for Q4 FY26 was 3.69%.

• Capital adequacy ratio at 27.26% (Tier 1: 26.89%).

• Dividend of INR 8 per share recommended for FY26.

Outlook and guidance

• Loan book expected to cross INR 1 lakh crore in FY27, with retail loan book growth projected at 18%-20%.

• NIM guidance for FY27 is 3.5%-3.65%; ROA expected at 2.4%-2.5%.

• Focus on growing retail loan assets, especially in high-yielding Emerging Markets and Affordable segments.

• Credit cost anticipated to remain negative due to continued recoveries.

• Affordable segment targeted for 50% growth; corporate loans to remain a small share (3% in FY27, 5%-6% in FY28).