Retail Loan Book
₹86,946 Cr
+16% YoY
Retail loan book grew 16% year-on-year to ₹86,946 crore as of March 2026.
PNBHOUSINGFINANCE
Financial Services
20 Apr 2026
PNB Housing Finance Ltd — Q4 FY26
PNB Housing Finance delivered a strong Q4 FY26 with retail loan book growing 16% YoY to ₹86,946 crore and PAT up 18% YoY to ₹2,291 crore for the full year.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
PNB Housing Finance delivered a strong Q4 FY26 with retail loan book growing 16% YoY to ₹86,946 crore and PAT up 18% YoY to ₹2,291 crore for the full year. Disbursements surged 36% YoY in Q4, driven by a rebound in affordable housing (up 69% QoQ) and strong emerging market growth. Asset quality improved with GNPA falling below 1% to 0.93%. Management guided for retail loan book growth of 18-20% in FY27, with NIM in the 3.55-3.65% range and ROA of 2.4-2.5%. Key risks include geopolitical tensions impacting inflation and interest rates, and potential normalization of credit cost as recoveries taper.
Key Numbers
GNPA
0.93%
-7bps YoY
Gross NPA improved to 0.93% from 1.00% a year ago, crossing sub-1% milestone.
Affordable + Emerging Mix
40%
+3pp YoY
Share of affordable and emerging market segments in retail loan book increased to 40% from 37%.
Disbursements Q4
₹9,355 Cr
+36% YoY
Quarterly disbursements grew 36% year-on-year, driven by strong performance across segments.
Management Guidance
Retail loan book growth 18-20% in FY27
Management expects retail loan book to grow 18-20% in FY27, crossing ₹1 lakh crore.
Management guidance growthNIM guidance 3.55-3.65% for FY27
Net interest margin is expected to be in the range of 3.55% to 3.65% for FY27.
Management guidance marginsROA guidance 2.4-2.5% for FY27
Return on assets is guided at 2.4% to 2.5% for FY27, factoring in negative credit cost of 15-20 bps.
Management guidance marginsCredit cost to remain negative at 15-20 bps in FY27
Credit cost is expected to be negative 15-20 bps in FY27 due to recoveries from return of pool accounts.
Management guidance otherKey Risks
Geopolitical impact on inflation and interest rates
Ongoing geopolitical conflict may keep crude oil prices elevated, leading to higher inflation and interest rates, which could marginally impact asset quality.
medium · management_commentaryYield improvement may not materialize as expected
Despite management's confidence that yields have bottomed out, incremental yields have been declining, and competitive pressures could delay improvement.
medium · analyst_questionNormalization of credit cost post recovery tailwind
Once recoveries from return of pool accounts taper, credit cost could normalize to 20-30 bps, pressuring ROA if not offset by higher yields.
high · data_observationNotable Quotes
We are looking for loan book to cross more than a lakh cr in 27, retail loan book projected to grow between 18 to 20%.
Our G&P continues to improve and is now below 1% March standing at 0.93% as of March 26.
In our view, the yield have bottomed out and should start improving from Q127.
Frequently Asked Questions
What was PNB Housing Finance's revenue in Q4 FY26?
PNB Housing Finance reported revenue of — in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did PNB Housing Finance management give for FY27?
Retail loan book growth 18-20% in FY27: Management expects retail loan book to grow 18-20% in FY27, crossing ₹1 lakh crore. NIM guidance 3.55-3.65% for FY27: Net interest margin is expected to be in the range of 3.55% to 3.65% for FY27. ROA guidance 2.4-2.5% for FY27: Return on assets is guided at 2.4% to 2.5% for FY27, factoring in negative credit cost of 15-20 bps. Credit cost to remain negative at 15-20 bps in FY27: Credit cost is expected to be negative 15-20 bps in FY27 due to recoveries from return of pool accounts.
What are the key risks for PNB Housing Finance in FY27?
Key risks include Geopolitical impact on inflation and interest rates — Ongoing geopolitical conflict may keep crude oil prices elevated, leading to higher inflation and interest rates, which could marginally impact asset quality.; Yield improvement may not materialize as expected — Despite management's confidence that yields have bottomed out, incremental yields have been declining, and competitive pressures could delay improvement.; Normalization of credit cost post recovery tailwind — Once recoveries from return of pool accounts taper, credit cost could normalize to 20-30 bps, pressuring ROA if not offset by higher yields..
Did PNB Housing Finance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full PNB Housing Finance Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.