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PNB Housing Finance Ltd

| Consolidated Financial Results – Q4 & FY Ended March 31, 2026

Report Source

⬤20th Apr 26

Summary : PNB Housing Finance reported strong FY26 results with increased profit, EPS, and dividend, receiving an unmodified audit opinion.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated: Finance cost, Impairment on financial instruments & write-offs, Employee benefits expense, Fees and commission expense, Depreciation, amortisation and impairment, Other expenses.
  2. Standalone: Finance cost, Impairment on financial instruments & write-offs, Employee benefits expense, Fees and commission expense, Depreciation, amortisation and impairment, Other expenses.
  3. Consolidated: Interest income, Fees and commission income, Net gain on fair value changes, Other income.
  4. Standalone: Interest income, Dividend income, Fees and commission income, Net gain on fair value changes, Other income.
  5. Consolidated Net cash used in operating activities (FY26): (8,983.55 crore).
  6. Consolidated Net cash generated from investing activities (FY26): 684.33 crore.
  7. Consolidated Net cash generated from financing activities (FY26): 8,719.78 crore.
  8. Standalone Net cash used in operating activities (FY26): (8,972.56 crore).
  9. Consolidated Total Assets (31-Mar-26): 93,512.07 crore (Loans: 86,433.37 crore).
  10. Consolidated Total Equity (31-Mar-26): 19,219.13 crore.
  11. Standalone Total Assets (31-Mar-26): 93,533.46 crore (Loans: 86,557.96 crore).
  12. Standalone Total Equity (31-Mar-26): 19,225.80 crore.
  13. Transactions with Punjab National Bank (promoter), PHFL Home Loans & Services Limited (subsidiary), PNB Investment Services Limited (promoter group), PNB Gilts Ltd (promoter group), PNB Metlife India Insurance Co Ltd (promoter group), various Gramin Banks (promoter group), and Key Management Personnel.
  14. Both standalone and consolidated financial results are presented.
  15. Consolidated results include PHFL Home Loans and Services Limited (100% owned subsidiary).

Corporate Overview

  1. India (implied from Indian report context).
  2. Managing COVID-19 related stressed assets under resolution frameworks.
  3. Assessing and accounting for the financial impact of new Labour Codes.
  4. Provides loans for purchase, construction, repairs, and renovations of houses/flats/commercial properties.
  5. Formal, compliant, and positive, focusing on financial performance and regulatory adherence.
  6. Individuals and small businesses (mentioned in COVID-19 resolution framework context).
  7. Customers seeking loans for residential and commercial properties.
  8. No separate reportable segment as per Ind AS 108, indicating a single primary business segment.
  9. Projects under implementation with total outstanding of 220.53 crore.

Risk Factors

  1. Financial impact of new Labour Codes.
  2. Managing COVID-19 stressed assets.
  3. Regulatory compliance changes.
  4. Reliance on other auditors.

Key Drivers

  1. Strong profit growth for the year.
  2. Increased earnings per share.
  3. Higher dividend declared.
  4. Unmodified audit opinion received.

Auditor’s Report

  1. Unmodified opinion on both standalone and consolidated financial results for the quarter and year ended March 31, 2026.
  2. Assessment of internal financial controls and operating effectiveness.
  3. Evaluation of accounting policies, estimates, and disclosures.
  4. Consideration of going concern basis of accounting.
  5. Reliance on reports of other auditors for a subsidiary included in consolidated financial results.

Board Commentary

  1. Recommended a final dividend of INR 8/- per equity share for FY ended March 31, 2026 (up from INR 5/- in previous year).
  2. Financial impact of new Labour Codes on gratuity liability.
  3. Management of COVID-19 related stressed assets.
  4. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  5. Adherence to RBI/NHB guidelines and directions.
  6. Assessment of new Labour Codes (Code on Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions) and their financial impact.
  7. Projects under implementation accounts at the end of the quarter totaled 220.53 crore.

Corporate Governance

  1. Auditors complied with Code of Ethics issued by ICAI.
  2. Audit Committee reviewed and recommended financial results.

Management Discussion & Analysis

Operational Focus Areas

  1. Ensuring compliance with SEBI Listing Regulations and RBI/NHB guidelines.
  2. Managing and resolving stressed assets as per regulatory frameworks.
  3. Monitoring and adapting to the financial impact of new Labour Codes.

Performance Drivers

  1. Increased net profit after tax for the financial year.
  2. Growth in earnings per share (EPS).
  3. Recommendation of a higher dividend per equity share.

Risk Control Measures

  1. Implementation of resolution frameworks for COVID-19 related stress.
  2. Ongoing assessment of Labour Codes' financial impact for appropriate accounting.

Critical Risks

  1. Financial impact from new Labour Codes.
  2. Potential for stressed assets from COVID-19.