PNB Housing share price today

PNB Housing Finance Ltd's share price was ₹1,082.00 at the close on 4 November 2026. It has been rising for 25 weeks. That is 3.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹764 and ₹1,179, and at that close it sat 77% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today PNB Housing Finance Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 19 weeks in a row.

Over the last 10 years the share price moved +41% while the NIFTY 500 moved +216%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) raised their stake for 10 quarters in a row, profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and revenue up on a year earlier for 11 quarters in a row.

1. Indian funds and insurers (DIIs) raised their stake for 10 quarters in a row

   From 6.9% to 49.3% of the company by the September 2026 quarter.

2. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter profit was ₹617 crore, +6% on a year earlier.

3. Revenue up on a year earlier for 11 quarters in a row

   In the September 2026 quarter revenue was ₹2,423 crore, +13.9% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), PNB Housing reported total income of ₹2,423 crore, up 13.9% from ₹2,128 crore a year earlier, and a profit of ₹617 crore, up 6.0% from ₹582 crore.

PNB Housing results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

PNB Housing's management discussed these results on a call held on 28 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Income and profit in ₹ crore.

PNB Housing closed at ₹1,082.00 on 4 November 2026, up 20.7% from ₹896.15 a year earlier (7 November 2025) and up 166.8% over five years. Its highest weekly close since November 2016 was ₹1,361.19 on 16 June 2017.

PNB Housing share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

529 weekly closes from 11 November 2016 to 4 November 2026.

4 Nov 2026: PNB Housing closed at ₹1,082.00, up 2.1% on the week and down 0.9% on the month. 28 Oct 2026: PNB Housing held its results call for July to September 2026. Management guided: Book growth 18-20% retained with current run at 19% seen improving.

Earlier

• Results for July to September 2026: Total income up 13.9% and profit up 6.0% on a year earlier.
• Our read, 22 Aug 2026: Asset quality turnaround intact, but the NIM compression is real, not sandbagging, and the ROA ceiling has been revised down three times in eight months.
• 31 Jul 2026: ex-date for a dividend of ₹8 a share.

Our read of the business

Latest quarter: NIM miss confirms structural compression; credit cost upgraded to full-year negative; ROA ceiling revised for third time.

Our read after the latest results, written 22 August 2026.

PNB Housing paid ₹8 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.74% at the ₹1,082.00 close on 4 November 2026. The last was a dividend of ₹8 a share, ex-date 31 July 2026.

PNB Housing dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. PNB Housing Finance Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 9 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 28 October 2026, PNB Housing's management guided: Book growth 18-20% retained with current run at 19% seen improving.

“With higher incremental yield versus book yield and a rising interest rate scenario, we feel that spread and NIM should further improve from here. - Vinay”CFO, on the call for July to September 2026

What management guided

• Retail up 10-15 basis points corporate 15-20 basis points from 1 Nov as 25 basis points adds 9-10 basis points with 50 basis points to 20 basis points passed on.
• Pool buyouts budgeted at ₹2,000 crore for the year.
• Construction finance book planned at ₹3,000 crore this year.
• Normalised credit cost seen at 10-12 basis points after recoveries normalise.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 28 October 2026.

What is changing at PNB Housing, from the latest results and calls: asset quality compounding (gnpa sub-1%, write-off recovery pool), affordable + emerging mix shift (41%, goal 50% by fy28) and cost of borrowing and rating upgrade.

• Asset Quality Compounding (GNPA sub-1%, write-off recovery pool). GNPA held sub-1% at 0.95% through April to June 2026; ₹67 crore recovery produced -12 basis points credit cost; full-year credit cost now guided negative, the most consistently-delivered thesis leg. ⚠ estimate
• Affordable + Emerging Mix Shift (41%, goal 50% by FY28). Affordable+Emerging at 41% of retail book in April to June 2026; Emerging ₹2,029 crore disbursements with double-digit on a year earlier growth, each percentage point of mix added is worth 3-5 basis points of NIM. ⚠ estimate
• Cost of Borrowing and Rating Upgrade. Incremental CoB rose 18 basis points in Q1 from funding volatility; rating upgrade pending, management guides at least 10 basis points benefit on fresh rates once upgrade lands. ⚠ estimate
• Construction Finance + Pool Buyouts (yield accretion, controlled risk). CF book ₹493 crore (₹215 crore disbursed in Q1); pool buyouts ₹146 crore add a new scale-and-yield tool, both Q1 clean with no NPA. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

Two consecutive quarters of NIM above 3.6% while Affordable and Emerging mix crosses 43%, this would confirm the H2 FY27 recovery management promises is real and that the three-round ROA step-down was a sandbagging floor.

Each change stops working if

• Asset Quality Compounding (GNPA sub-1%, write-off recovery pool): GNPA crosses back above 1.1% for two consecutive quarters, or write-off pool recovery falls below ₹40 crore per quarter without an offsetting NIM improvement.
• Cost of Borrowing and Rating Upgrade: No rating upgrade by October to December 2026 and incremental CoB stays above 7.5%, removing the guided H2 funding tailwind.

The main risks

• Three-round ROA ceiling compression, guidance credibility eroding: Long-term ROA guided to 2.3-2.35% (Aug 2026) from 2.5-2.6% (Jan 2026), three step-downs in eight months without a clearly new catalyst to justify each. ⚠ estimate
• Construction Finance NPA risk (book young; legacy fraud account active): CF book ₹493 crore is one quarter old, same wholesale developer business that caused the prior distress cycle; a legacy fraud account (₹223.7 crore) remains in borrower discussions. ⚠ estimate
• Affordable Q2 acceleration goal (2.5-2.6x Q1) is ambitious: April to June 2026 Affordable disbursements ₹555 crore net, below internal goals; management guided Q2 at 2.5-2.6x Q1, implying approximately ₹1,400-1,450 Cr, a large sequential jump. ✓ fact
• Balance transfer run-off pressure: BT overall 4.4% in Q1 (Affordable 3.4%, down from 10.5%), improving, but prime BT pressure persists in a rate-cut cycle. ✓ fact

Our read after the latest results, written 22 August 2026.

When PNB Housing reports October to December 2026, these are the check that show whether the story is still on course. First: Underlying spread follow-through into next quarter on incremental-above-book dynamic and repricing execution - per repair framing.

PNB Housing is on 2 of our India lists: Momentum stocks and Small & mid cap stocks.

PNB Housing Finance Ltd earned ₹617 Cr of net profit in the Sep 2026 quarter, +6.0% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹2,291 Cr. Over 8 years profit has grown 13.3% a year on average. That is 25.5% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹582 Cr.

For the full year, FY26 profit was ₹2,291 Cr (+18.3% on the year before).

Why profit moved: revenue changed +13.9% on a year earlier and the margin moved −1.8 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +9.3% and revenue +10.0%. Profit and revenue are moving at about the same pace.

FY27-Q1. revenue ₹2,263 Cr and profit ₹557 Cr as reported.

FY27-Q2. revenue ₹2,423 Cr and profit ₹617 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

PNB Housing Finance Ltd reported ₹2,423 Cr of income in the Sep 2026 quarter, +13.9% on the same quarter a year earlier. That is the 11th quarter in a row with growth on the year before. Over 8 years it has grown 5.6% a year on average. The last full year, FY26, came in at ₹8,494 Cr.

For a bank, revenue is everything it earns: interest on its loans plus fees and other income.

The last four reported quarters add to ₹8,987 Cr.

FY26 revenue was ₹8,494 Cr, +10.5% on the year before.

Recent pace: the last four quarters grew +10.0% on average, against 5.6% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +10.0%, against +11.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +9.4%, against +18.3% a year (rolling over).

FY27-Q1. revenue ₹2,263 Cr and profit ₹557 Cr as reported.

FY27-Q2. revenue ₹2,423 Cr and profit ₹617 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

PNB Housing Finance Ltd's net margin was 25.5% in the Sep 2026 quarter, 1.8 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 9 years it has been between 7.6% and 27.0%. The latest quarter is within that range.

Net margin is what the bank keeps from every ₹100 of revenue after every cost, provision for bad loans and tax. It is the clearest single margin we can read for a lender.

Why this happened. The asset-quality engine has delivered without a miss across five quarters. GNPA improved from 1.24% (Sep 2024) to 0.93% (Mar 2026) and held at 0.95% in Q1 FY27 despite a minor cyclical early-bucket uptick that management attributes to seasonal factors expected to recede in Q2. Rs 67 Cr recovered from the written-off pool in Q1 produced -12 bps credit cost. Management upgraded full-year FY27 credit cost guidance to 'maintain negative', above the prior -15 to -20 bps floor. The remaining retail pool of Rs 340 Cr provides further buffer. The Affordable segment GNPA held below 0.6% vs industry average of 1.3%.

Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

FY27-Q1. revenue ₹2,263 Cr and profit ₹557 Cr as reported.

FY27-Q2. revenue ₹2,423 Cr and profit ₹617 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

PNB Housing Finance Ltd's gross NPA, the share of loans that have stopped being repaid, is 0.95% in Jun 2026, down from 1.06% a year ago. After the money already set aside for bad loans, 0.58% is left (net NPA). Across the 7 quarters on file it has been between 0.93% and 1.24%.

Gross NPA is the share of the loan book where repayments have stopped. Net NPA is what is left after the money the lender has already set aside for those loans. Falling is good; rising is a warning.

Falling bad loans mean the loan book is healing; rising ones mean new damage.

In Jun 2026, gross NPA was 0.95% and net NPA 0.58%, against 1.06% and 0.69% a year ago.

The bad-loan figures stop at Jun 2026, and our data does not yet carry gross and net NPA for the quarters after it, although results up to Sep 2026 are in. They are shown as filed, not estimated.

In short: a lender's profit growth is only as good as its loans, and this loan book is better than a year ago. Quarterly detail on money set aside for bad loans is not in our data yet, so this shows the levels and the trend, not the cost of the clean-up.

Why bad loans moved: recoveries, write-offs and new bad loans all play a part. That split is not in our data, so the page shows the trend without the breakdown.

PNB Housing Finance Ltd's revenue was ₹8,494 Cr in FY26, +10.5% on the year before, so the loan book is growing. The latest quarter was +13.9% on a year earlier. The net margin on that income is 25.5%, −1.8 percentage points on a year ago.

We read the loan book through revenue: when the book grows, revenue grows with it. It is only a rough guide, because interest-rate changes and fee swings can move it a few points in any year.

Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year.

In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses.

PNB Housing Finance Ltd's P/BV is 1.4×, in the middle of its own history: higher than 47% of past readings. Its usual P/BV (the middle reading) is 1.4×, over 8.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

For a bank or lender we compare the price with book value, the net worth on its balance sheet. P/BV is how many rupees the market pays for each ₹1 of that net worth. Below 1× means the market values it at less than its net worth.

Why this happened. CoB rose in Q1 FY27 from tighter liquidity and market volatility, a reversal of the FY26 trend where CoB fell 29 bps full-year. The expected rating upgrade (guided in Q4 FY26 call as 'within 1-2 quarters') has not yet materialized; management's Aug 2026 call treats 'pending rating actions' as a key H2 catalyst. If delivered, at least 10 bps of fresh borrowing rate benefit is guided. This driver is now conditional on two external variables, liquidity normalization and rating agency decision, both outside direct management control.

Keep one thing in mind: the net margin is the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.