# PNB Housing share price today (PNB Housing Finance Ltd, NSE: PNBHOUSING)

> PNB Housing share price today: ₹1,063.00 at the NSE close on 3 November 2026, up 14.5% in a year. PNB Housing Finance (NSE: PNBHOUSING) is worth ₹27,723 crore, trades at a P/BV of 1.4 and has closed between ₹763.90 and ₹1,178.90 over the past 52 weeks. > PNB Housing Finance Ltd's earnings have grown faster than its share price. Earnings per share grew +18.1% in a year while the price moved +14.5%. PNBHOUSING · Finance - Housing · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/pnb-housing-finance-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹1,063.00 (+14.5% in a year)
- P/BV: 1.4× (lower than 53% of the last 8.3 years)
- Revenue (Sep 2026): ₹2,423 Cr (+13.9% on a year ago)
- Profit (Sep 2026): ₹617 Cr (+6.0% on a year ago)
- Net margin: 25.5% (−1.8 points on a year ago)
- ROE: 13%, FY26
- Gross NPA (bad loans): 0.95% (−0.11 points on a year ago)

The main question: foreign institutions moved −6.2 percentage points over 8 quarters while the business went the other way. ## What is the PNB Housing share price today? PNB Housing Finance Ltd's share price was ₹1,063.00 at the close on 3 November 2026. It has been rising for 25 weeks. That is 1.7% 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 72% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running. Over the last 10 years the share price moved +38% while the NIFTY 500 moved +216%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. 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. ## What changed at PNB Housing this quarter? 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. ## What are PNB Housing's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Total income | ₹2,423 crore | ₹2,128 crore | +13.9% |
| Profit | ₹617 crore | ₹582 crore | +6.0% |
| Earnings per share | ₹23.64 | ₹22.33 | +5.9% |
| Net margin | 25.5% | 27.3% | −1.8 points |

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.)

## What is the PNB Housing share price history? PNB Housing closed at ₹1,063.00 on 3 November 2026, up 14.5% from ₹928.70 a year earlier (31 October 2025) and up 162.1% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,089.10 | −2.4% |
| 1 month ago · 1 Oct 2026 | ₹1,092.00 | −2.7% |
| 6 months ago · 30 Apr 2026 | ₹1,045.65 | +1.7% |
| 1 year ago · 31 Oct 2025 | ₹928.70 | +14.5% |
| 3 years ago · 3 Nov 2023 | ₹730.25 | +45.6% |
| 5 years ago · 4 Nov 2021 | ₹405.59 | +162.1% |
| 10 years ago · 11 Nov 2016 | ₹769.36 | +38.2% |
| Earliest weekly close in our records · 11 Nov 2016 | ₹769.36 | +38.2% |
| Highest weekly close since November 2016 · 16 Jun 2017 | ₹1,361.19 | −21.9% |
| Lowest weekly close since November 2016 · 27 Mar 2020 | ₹130.74 | +713.1% |
| 52-week high (weekly close) · 11 Sep 2026 | ₹1,178.90 | −9.8% |
| 52-week low (weekly close) · 13 Mar 2026 | ₹763.90 | +39.2% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (529 weekly closes from 11 November 2016 to 3 November 2026.)

## What is the latest news on PNB Housing? 3 Nov 2026: PNB Housing closed at ₹1,063.00, down 2.4% on the week and down 2.7% 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.)

## What dividend does PNB Housing pay? PNB Housing paid ₹8 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.75% at the ₹1,063.00 close on 3 November 2026. The last was a dividend of ₹8 a share, ex-date 31 July 2026. ### PNB Housing dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 31 Jul 2026 | ₹8 | Dividend |
| 1 Aug 2025 | ₹5 | Dividend |

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. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did PNB Housing management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/6023-28-Oct-2026.pdf). (From the call for July to September 2026, 28 October 2026.)

## What is the future of PNB Housing? What is changing in the business? 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.)

## What could change the PNB Housing story? What are the risks? 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.)

## What to watch in PNB Housing's next results? 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. | What to check | Why |
| --- | --- |
| Underlying spread follow-through into next quarter on incremental-above-book dynamic and repricing execution - per repair framing. | From the call |

## Which stock lists is PNB Housing on? PNB Housing is on 2 of our India lists: Momentum stocks and Small & mid cap stocks. - [Momentum stocks Market cap cr: 27652.824056603775](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 287](https://www.sectoralpha.in/small-cap-stocks-india)

## Is PNB Housing profitable? 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. 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. ## How much revenue does PNB Housing make, and is it growing? 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. 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. ## How much does PNB Housing keep from what it earns? 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. 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. ## How many of PNB Housing's loans have gone bad? 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%. 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. ## How fast is PNB Housing's loan book growing? 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. 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. ## What is PNB Housing's P/BV ratio, and how does it compare with its own history? 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. 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. Why the multiple is where it is: over the past year book value grew while the price moved +14.5%. Price and book value moved together, so the multiple stayed in its range. Where the price move came from: over 5 years the price moved +21.3% a year; about +15.8% a year came from book-value growth and about +5.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus book-value growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the book value trend underneath matters more than the multiple. ## What growth does the PNB Housing share price assume? Worked out from its price on 24 August 2026, PNB Housing Finance Ltd's share price assumed profit growth of about 7.1% a year. Over the past 8 years its profit actually grew 13.3% a year. Today its P/BV is 1.4×, lower than 53% of its own last 8.3 years. This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the PNB Housing business getting better or worse? PNB Housing Finance Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +43.8% at its peak to +9.4%, but the business is still expanding, with ROE steady at 11.6%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the PNB Housing story, and has it been checked? PNB Housing Finance Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Still open: 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. What is proven. See the research file

What is not proven yet. 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. The test written in advance. Construction Finance NPA risk (book young; legacy fraud account active). Measured by: Construction Finance NPA risk (book young; legacy fraud account active) Any CF NPA disclosure in Q2 or Q3 FY27 results, this triggers the bear case and blocks the rating upgrade thesis. by the next result. The test written in advance. Affordable Q2 acceleration goal (2.5-2.6x Q1) is ambitious. Measured by: Affordable Q2 acceleration goal (2.5-2.6x Q1) is ambitious Q2 FY27 Affordable disbursements, must exceed Rs 1,200 Cr to confirm the sequential recovery guided. by the next result. What the surface reading misses. What the surface reading misses. The surface reading is: ROA goal lowered again, management credibility declining. The research reads it further: Aug 2026 call: long-term ROA goal reset to 2.3-2.35%, third consecutive downward revision from Jan 2026 commitment of 2.5-2.6%

Lever 1 · Operating leverage: building. GNPA held sub-1% at 0.95% through Q1 FY27; Rs 67 Cr recovery produced -12 bps credit cost; full-year credit cost now guided negative, the most consistently-delivered thesis leg. What proves it keeps working: Asset Quality Compounding (GNPA sub-1%, write-off recovery pool). It stops working if Any CF NPA disclosure in Q2 or Q3 FY27 results, this triggers the bear case and blocks the rating upgrade thesis. Lever 8 · Demerger or value unlock: building. Incremental CoB rose 18 bps in Q1 from funding volatility; rating upgrade pending, management guides at least 10 bps benefit on fresh rates once upgrade lands. What proves it keeps working: Cost of Borrowing and Rating Upgrade. It stops working if No rating upgrade by Q3 FY27 and incremental CoB stays above 7.5%, removing the guided H2 funding tailwind. Lever 5 · Regulatory approval: building. CF book Rs 493 Cr (Rs 215 Cr disbursed in Q1); pool buyouts Rs 146 Cr add a new scale-and-yield tool, both Q1 clean with no NPA. What proves it keeps working: Construction Finance + Pool Buyouts (yield accretion, controlled risk). It stops working if Any CF NPA disclosure within the next two quarters, this triggers the bear case and undermines the rating upgrade timeline. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did PNB Housing management deliver what it promised? What PNB Housing Finance Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Reporting Period and Timeline Conflict · 28 October 2026. The latest call is identified as Oct 2026, but its opening labels the discussion Q2 and H1 FY25 and reports a balance-sheet date in September 2024. This conflicts with the Aug 2026 call's Q1 FY27 reporting and June 2026 balance-sheet date, making the latest financial figures and guidance materially non-comparable and requiring management to clarify whether the wrong period or transcript was used. Branch Network Reversal · 28 October 2026. The Apr 2026 call reported 393 branches and the Aug 2026 call said the network had expanded to 404, but the Oct 2026 call reports only 304 branches. A 100-branch reduction is material to the distribution and growth thesis, and the latest call provides no explanation for closures or for using the September 2024 date. Affordable and Emerging Mix Guidance Reversal · 28 October 2026. In Aug 2026 management described Affordable and Emerging as 41% of retail and planned 45% by FY27, while the Oct 2026 call reports a lower 36% share and a 40% goal by FY25. Given the latest call date, the FY25 goal is already past and the lower share reverses the previously stated mix trajectory without explanation. Micro-Housing Launch Timeline Reversed · 28 October 2026. The Apr 2026 call said the micro-housing introduction would occur in Q1, and the Aug 2026 call said Q2 FY27 was when the policy had just rolled out, with meaningful results expected from H2 FY27. The Oct 2026 call instead says the business launched in Q2 FY25 and had already disbursed 71 crore, an unexplained backward shift in the project timeline that changes the assessment of execution and contribution. Every quote above is taken word for word from the company’s own earnings calls. ## What is PNB Housing management's track record? Navigated the 2019-22 down-cycle by exiting CF; now re-entering it with impaired guidance credibility. ### Regulatory and governance record

No SEBI/CBI/ED action against PNBHFL itself; surfaced cases are third-party (Sequel Buildcon homebuyer fraud, SEBI in-scrip settlements, SREI at parent PNB). 0% Promoter shares pledged

Sources:

- [lexology.com](https://www.lexology.com)
- [scanx.trade](https://www.scanx.trade)

(Checked 21 July 2026.)

## How much does PNB Housing earn on its equity and assets? PNB Housing Finance Ltd earned a return on equity of 13% in FY26. Its lowest yearly reading on file was 8% in FY20. On its assets, every ₹100 earned about ₹2.51, before the effect of borrowing. For a lender the balance sheet is the business, so the return on equity and on assets have to be read together. That is above the level a bank needs to grow its net worth steadily. Why ROE moved: profit grew 13.3% a year over 8 years while net worth grew more slowly. When earnings recover faster than net worth builds up, ROE climbs off its low. ## Does PNB Housing have too much debt? For a bank, borrowing is the raw material of the business, not a warning sign: it borrows money in order to lend it out. Its safety is read through its returns and its loans. Its safety is read from the bad-loan figures and the return on equity instead. For a manufacturer, debt is a claim on its profits. For a lender it is the stock it trades in, so the usual debt-to-equity test would mislead and is not used here. ## What is the PNB Housing shareholding pattern? Domestic institutions raised their stake in PNB Housing Finance Ltd by 27.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 49.3% of the company. Foreign institutions moved −6.2 points over the same period, to 14.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +27.1 points over 8 quarters, to 49.3%; Foreign institutions: −6.2 points over 8 quarters, to 14.2%; Promoters: −0.1 points over 8 quarters, to 28.0%. Why the owners changed: foreign institutions moved −6.2 points and domestic institutions +27.1 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is PNB Housing from balance-sheet trouble? For PNB Housing Finance Ltd, the Z-score is not used, because it was built for manufacturers, not lenders. For a lender, safety is read from its capital and bad-loan figures instead. Why this happened. CF book Rs 493 Cr (Rs 215 Cr disbursed in Q1); pool buyouts Rs 146 Cr add a new scale-and-yield tool, both Q1 clean with no NPA. ## How does PNB Housing rank in its industry? 55.0 out of 100, rank 8 of 13 in Finance - Housing, with 93% of the evidence available. PNB Housing Finance Ltd scores 55.0 out of 100 against the 13 companies it is compared with in Finance - Housing, ranking 8. Relative strength against the index is 12.3%, and revenue and profit growth are weak. The four parts add up to the total exactly: 12 + 12.9 + 11.1 + 19 = 55. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector. ## Which companies is PNB Housing compared with? PNB Housing ranks 8 of 13 Finance - Housing companies on the 4-Factor Sector Score, with 55.0 out of 100. 1. [Can Fin Homes Ltd](https://www.sectoralpha.in/stocks/can-fin-homes-ltd) CANFINHOME · basing · Most evidence points up · 93% evidence 65.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Income 7.9% · Profit 25.3% · 100% evidence Capital efficiency 17.2/25 · ROA 2.5% · ROE 19.7% · GNPA n/a · 72% evidence Valuation 15.8/20 · P/BV 1.49× · P/BV÷ROE 0.08 · 100% evidence Relative strength 9.7/20 · Lead over its industry 0% · Lead over NIFTY 500 -10.9% · 1 year -17.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.2 + 17.2 + 15.8 + 9.7 = 65.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Home First Finance Company India Ltd](https://www.sectoralpha.in/stocks/home-first-finance-company-india-ltd) HOMEFIRST · quiet · Evidence leans up · 78% evidence 64.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.5/35 · Income 19.2% · Profit 36.6% · 100% evidence Capital efficiency 17.1/25 · ROA 3.6% · ROE 15.7% · GNPA n/a · 72% evidence Valuation 10.1/20 · P/BV 2.4× · P/BV÷ROE 0.15 · 100% evidence Relative strength 11.4/20 · Lead over its industry n/a · Lead over NIFTY 500 0.1% · 1 year -10.3% · 25% evidence · 6 of 12 weeks ahead Exact sum: 25.5 + 17.1 + 10.1 + 11.4 = 64.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [India Shelter Finance Corporation Ltd](https://www.sectoralpha.in/stocks/india-shelter-finance-corporation-ltd) INDIASHLTR · basing · Evidence leans up · 87% evidence 61.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.4/35 · Income 25.8% · Profit 28.1% · 67% evidence Capital efficiency 18.4/25 · ROA 5.8% · ROE 17.1% · GNPA 1.6% · 95% evidence Valuation 11.1/20 · P/BV 2.1× · P/BV÷ROE 0.12 · 100% evidence Relative strength 8.7/20 · Lead over its industry -3.8% · Lead over NIFTY 500 -14.4% · 1 year -30.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.4 + 18.4 + 11.1 + 8.7 = 61.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Housing & Urban Development Corporation Ltd](https://www.sectoralpha.in/stocks/housing-urban-development-corporation-ltd) HUDCO · quiet · Evidence leans up · 84% evidence 60.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Income 25.9% · Profit 53% · 75% evidence Capital efficiency 17.1/25 · ROA 2.4% · ROE 20% · GNPA n/a · 72% evidence Valuation 12.8/20 · P/BV 1.3× · P/BV÷ROE 0.07 · 100% evidence Relative strength 0.5/20 · Lead over its industry -14% · Lead over NIFTY 500 -23.5% · 1 year -39.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 29.9 + 17.1 + 12.8 + 0.5 = 60.3 · What this means: Earnings are strong; relative strength in its sector is -14% and the one-year return is -39.6%. 5. [Aadhar Housing Finance Ltd](https://www.sectoralpha.in/stocks/aadhar-housing-finance-ltd) AADHARHFC · basing · Evidence leans up · 90% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Income 17.7% · Profit 20.1% · 88% evidence Capital efficiency 18.7/25 · ROA 4% · ROE 15.9% · GNPA 1.3% · 100% evidence Valuation 8.4/20 · P/BV 2.43× · P/BV÷ROE 0.15 · 70% evidence Relative strength 11.0/20 · Lead over its industry 3.3% · Lead over NIFTY 500 -7.8% · 1 year -17.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22 + 18.7 + 8.4 + 11 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [AAVAS Financiers Ltd](https://www.sectoralpha.in/stocks/aavas-financiers-ltd) AAVAS · basing · Evidence leans up · 85% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.8/35 · Income 12.1% · Profit 16.9% · 100% evidence Capital efficiency 17.4/25 · ROA 3.2% · ROE 13.9% · GNPA 1.1% · 100% evidence Valuation 13.2/20 · P/BV 1.56× · P/BV÷ROE 0.11 · 100% evidence Relative strength 8.3/20 · Lead over its industry n/a · Lead over NIFTY 500 -18% · 1 year -35.6% · 25% evidence · 0 of 12 weeks ahead Exact sum: 19.8 + 17.4 + 13.2 + 8.3 = 58.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [LIC Housing Finance Ltd](https://www.sectoralpha.in/stocks/lic-housing-finance-ltd) LICHSGFIN · turning · Evidence leans up · 88% evidence 56.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.4/35 · Income -0.6% · Profit 6.8% · 86% evidence Capital efficiency 12.8/25 · ROA 1.7% · ROE 14.4% · GNPA n/a · 72% evidence Valuation 17.3/20 · P/BV 0.62× · P/BV÷ROE 0.04 · 100% evidence Relative strength 16.8/20 · Lead over its industry 8.7% · Lead over NIFTY 500 -3% · 1 year -13.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 9.4 + 12.8 + 17.3 + 16.8 = 56.3 · What this means: Relative strength against the index is -3%, and revenue and profit growth are weak. 8. PNB Housing Finance Ltd this page PNBHOUSING · leader · Evidence leans up · 93% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.0/35 · Income 10% · Profit 9.3% · 100% evidence Capital efficiency 12.9/25 · ROA 2.3% · ROE 12.7% · GNPA n/a · 72% evidence Valuation 11.1/20 · P/BV 1.37× · P/BV÷ROE 0.11 · 100% evidence Relative strength 19.0/20 · Lead over its industry 25.7% · Lead over NIFTY 500 12.3% · 1 year 14.1% · 100% evidence · 11 of 12 weeks ahead Exact sum: 12 + 12.9 + 11.1 + 19 = 55 · What this means: Relative strength against the index is 12.3%, and revenue and profit growth are weak. 9. [Bajaj Housing Finance Ltd](https://www.sectoralpha.in/stocks/bajaj-housing-finance-ltd) BAJAJHFL · basing · Evidence leans up · 94% evidence 54.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.9/35 · Income 17.3% · Profit 18.9% · 100% evidence Capital efficiency 15.0/25 · ROA 2% · ROE 12.1% · GNPA 0.3% · 100% evidence Valuation 5.3/20 · P/BV 2.69× · P/BV÷ROE 0.22 · 70% evidence Relative strength 15.5/20 · Lead over its industry 3.5% · Lead over NIFTY 500 -7.7% · 1 year -29.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 18.9 + 15 + 5.3 + 15.5 = 54.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Aptus Value Housing Finance India Ltd](https://www.sectoralpha.in/stocks/aptus-value-housing-finance-india-ltd) APTUS · quiet · Evidence leans up · 87% evidence 54.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Income 21.2% · Profit 23.4% · 67% evidence Capital efficiency 19.0/25 · ROA 7.8% · ROE 20.1% · GNPA 1.7% · 95% evidence Valuation 11.5/20 · P/BV 1.89× · P/BV÷ROE 0.09 · 100% evidence Relative strength 2.0/20 · Lead over its industry -11.7% · Lead over NIFTY 500 -21.4% · 1 year -39.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.6 + 19 + 11.5 + 2 = 54.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Repco Home Finance Ltd](https://www.sectoralpha.in/stocks/repco-home-finance-ltd) REPCOHOME · basing · Evidence leans down · 63% evidence 49.3 out of 100 Growth Capital Valuation Relative
12. [GIC Housing Finance Ltd](https://www.sectoralpha.in/stocks/gic-housing-finance-ltd) GICHSGFIN · quiet · Evidence leans down · 69% evidence 41.9 out of 100 Growth Capital Valuation Relative
13. [Sammaan Capital Ltd](https://www.sectoralpha.in/stocks/sammaan-capital-ltd) SAMMAANCAP · quiet · Most evidence points down · 74% evidence 23.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Finance - Housing](https://www.sectoralpha.in/sectors/finance-housing), all 13 compared on one page. ## Which companies are close to PNB Housing in size? PNB Housing is the 3rd largest of 13 Finance - Housing companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Bajaj Housing Finance and Housing & Urban Development Corporation. Just below it: LIC Housing Finance, Aadhar Housing Finance, Sammaan Capital and Home First Finance Company India. ### Finance - Housing companies close in size

1. [Bajaj Housing Finance Ltd](https://www.sectoralpha.in/stocks/bajaj-housing-finance-ltd) ₹64,509 crore
2. [Housing & Urban Development Corporation Ltd](https://www.sectoralpha.in/stocks/housing-urban-development-corporation-ltd) ₹28,641 crore
3. PNB Housing Finance Ltd ₹27,645 crore
4. [LIC Housing Finance Ltd](https://www.sectoralpha.in/stocks/lic-housing-finance-ltd) ₹27,157 crore
5. [Aadhar Housing Finance Ltd](https://www.sectoralpha.in/stocks/aadhar-housing-finance-ltd) ₹18,417 crore
6. [Sammaan Capital Ltd](https://www.sectoralpha.in/stocks/sammaan-capital-ltd) ₹13,560 crore
7. [Home First Finance Company India Ltd](https://www.sectoralpha.in/stocks/home-first-finance-company-india-ltd) ₹11,210 crore

[All 13 Finance - Housing companies, largest first](https://www.sectoralpha.in/sectors/finance-housing#all-companies)

### Companies close in size in other industries

1. [Jubilant Foodworks Ltd](https://www.sectoralpha.in/stocks/jubilant-foodworks-ltd) ₹27,839 crore · Quick Service Restaurant - QSR
2. [UCO Bank](https://www.sectoralpha.in/stocks/uco-bank) ₹27,662 crore · Banks - PSU
3. PNB Housing Finance Ltd ₹27,645 crore
4. [LIC Housing Finance Ltd](https://www.sectoralpha.in/stocks/lic-housing-finance-ltd) ₹27,157 crore · Finance - Housing
5. [Manappuram Finance Ltd](https://www.sectoralpha.in/stocks/manappuram-finance-ltd) ₹27,147 crore · Finance & Investments - Gold Loan

## What else do people ask about PNB Housing? ### What is PNB Housing's share price today? PNB Housing Finance Ltd's share price is ₹1,063.00, +14.5% over the past year. The whole company is worth ₹27,723 Cr on the market. In the last 52 weeks it traded between ₹764 to ₹1,179; today it is 72% of the way up from the low, 1.7% above its 200-day average (as of 3 November 2026). ### What were PNB Housing's latest quarterly results? PNB Housing Finance Ltd reported total income of ₹2,423 Cr and net profit of ₹617 Cr for the Sep 2026 quarter. Income rose 13.9% and profit rose 6.0% compared with a year earlier. Earnings per share were ₹23.64. Gross NPA stood at 0.95% of the loan book (as of 3 November 2026). ### What is PNB Housing's market cap? PNB Housing Finance Ltd's market capitalisation is ₹27,723 Cr at a share price of ₹1,063.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is PNB Housing performing? PNB Housing Finance Ltd's share price has been rising for 25 weeks. In its latest quarter, income rose 13.9% and profit rose 6.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will PNB Housing's share price go up? This page does not forecast PNB Housing Finance Ltd's share price. What it shows instead: the share price is ₹1,063.00, and it has been rising for 25 weeks. Its P/BV of 1.4× is higher than 47% of its own last 8 years (as of 3 November 2026). ### Who owns PNB Housing? Promoters own 28.0% of PNB Housing Finance Ltd, foreign institutions 14.2%, domestic institutions 49.3% and the public 8.5% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 27.1 percentage points over 8 quarters (as of 3 November 2026). ### Where is PNB Housing in its business cycle? PNB Housing Finance Ltd's FY26 net margin was 27.0%, against a 9-year range of 7.6% to 27.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 25.5%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the PNB Housing story? The main question: foreign institutions moved −6.2 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is PNB Housing a stock worth studying right now? What the numbers show: PNB Housing Finance Ltd's earnings have grown faster than its share price. Earnings per share grew +18.1% in a year while the price moved +14.5%. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a PNB Housing share price forecast for 2026? What management itself guided: Book growth 18-20% retained with current run at 19% seen improving. 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. What would change the story: 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. ### Where does this page get PNB Housing's management information? From PNB Housing's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.