DBT Bureau
Pune, 22 Jan 2026
PNB Housing Finance Limited reported the consolidated financial results for the quarter ended 31st December 2025.
Key Highlights
- The Retail Loan Asset grew by 16% YoY to ₹81,931 crore as on 31st Dec 2025, which is 99.7% of the Total Loan Asset.
- The Affordable and Emerging Markets segment grew by 31% YoY and contributes 39% to the Retail Loan Asset.
- The disbursement during Q3 FY26 grew by 16% YoY and 4% QoQ to ₹6,217 crore.
- Affordable and Emerging Markets Segment grew by 11% YoY to ₹2,935 crore.
- The Affordable and Emerging Market segment continues to contribute around 50% of the total retail disbursements.
- Company has also considered estimated impact of new labour code amounting to ₹ 6 crore under employee benefit expenses in the financial statement for the quarter ended December 31, 2025.
- Recovered ₹49 crore from total written-off pool in Q3 FY26.
- Gross NPA stood at 1.04% as on 31st Dec 2025 as compared to 1.19 % as on 31st Dec 2024.
- Return on Asset is at 2.40% in Q3 FY26 (annualized) and 2.57% in 9M FY26 (annualized).
- Capital Risk Adequacy Ratio stood at 29.46% as on 31st Dec 2025; Tier I at 28.92%.
Financial performance (Q3 FY25-26 vs Q3 FY24-25 and Q2 FY25-26)
| Metric | Q3 FY26 | YoY Change (vs Q3 FY25) | QoQ Change (vs Q2 FY26) |
|---|---|---|---|
| Net Profit (₹ crore) | 520 | ▲ 7.7% | ▼ 10.5% |
| Pre-Provision Operating Profit – PPOP (₹ crore) | 628 | ▲ 8.4% | ▼ 2.9% |
| PPOP (Ex-New Labour Code Impact) (₹ crore) | 634 | ▲ 9.4% | ▲ 1.9% |
| Net Interest Income – NII (₹ crore) | 772 | ▲ 10.9% | ▲ 0.9% |
| Operating Expenditure (₹ crore) | 240 | ▲ 16.7% | ▲ 10.5% |
| Yield (%) | 9.72 | ▼ from 10.12% | ▼ from 9.95% |
| Cost of Borrowing (%) | 7.50 | ▼ from 7.83% | ▼ from 7.69% |
| Loan Spread (%) | 2.22 | ▼ from 2.29% | ▼ from 2.26% |
| Net Interest Margin – NIM (%) | 3.63 | ▼ from 3.70% | ▼ from 3.67% |
| Gross Margin (Net of Acquisition Cost) (%) | 3.98 | — | — |
| Credit Cost (bps) | -19 | Flat vs Q3 FY25 | Higher than -53 bps |
Financial performance (9M FY25-26 vs 9M FY24-25)
| Metric | 9M FY26 | 9M FY25 | YoY Change |
|---|---|---|---|
| Net Profit (₹ crore) | 1,635 | — | ▲ 18.0% |
| Pre-Provision Operating Profit – PPOP (₹ crore) | 1,906 | — | ▲ 13.4% |
| Net Interest Income – NII (₹ crore) | 2,296 | — | ▲ 13.9% |
| Operating Expenditure (₹ crore) | 673 | — | ▲ 12.1% |
| Yield (%) | 9.89 | 10.07 | ▼ |
| Cost of Borrowing (%) | 7.65 | 7.86 | ▼ |
| Loan Spread (%) | 2.24 | 2.21 | ▲ |
| Net Interest Margin – NIM (%) | 3.67 | 3.67 | Flat |
| Gross Margin (Net of Acquisition Cost) (%) | 4.03 | — | — |
| Credit Cost (bps) | -33 | -17 | Improvement |
| Return on Assets – ROA (%) (Annualised) | 2.57 | — | ▲ 9 bps |
| Return on Equity – ROE (%) (Annualised) | 12.31 | — | — |
