Pnb Housing Finance Limited · NSE:PNBHOUSING
Pnb Housing Finance — Q3 FY2026 Earnings Presentation
46 slides from Pnb Housing Finance's earnings presentation, Jan 21, 2026
Slide 1: Stock exchange cover letter for investor presentation
Ref: PNBHFL/SE/EQ/FY2025-26/130 January 21, 2026 BSE Limited National Stock Exchange of India Limited Listing Department, Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 540173 Symbol: PNBHOUSING
Slide 2: Investor Presentation Quarter Ended December 2025
Investor Presentation Quarter Ended December 2025 21-January-2026 Public
Slide 3: Table of Content
Table of Content 1 Key Performance Highlights 2 Business Update 3 Segment Update – Affordable 4 Segment Update – Emerging Markets 5 Segment Update – Prime 6 Asset Quality 7 Technology Update 7 Financial Performance 8 Annexure Public
Slide 4: Key Performance Highlights
Key Performance Highlights • As on 31st Dec 2025, Retail Loan Asset grew by 16% YoY at INR 81,931 crore.Affordable and Emerging Markets segments forms 39% of the Retail Loan Asset • Retail Disbursement grew by 16% YoY to INR 6,217 crore. Affordable Segment and Emerging Markets contributes around Bus
Slide 5: Key Performance Highlights
Key Performance Highlights Retail Segment Corporate Segment Total Segment Q3 FY26 9M FY26 Amount YoY Amount YoY 6,217 (Q3 FY26) Affordable 786 -15% 2,374 11% Nil (Q3 FY26) (16% YoY | 4% QoQ) Emerging Disbursement Markets 2,149 25% 6,007 26% Nil (9M FY26) (INR Crore) 17,193 (9M FY26) Prime 3,282 20%
Slide 6: Key Performance Highlights
Key Performance Highlights AUM Loan Asset Deposit Net NPA Spread INR 86,048 Crore INR 82,203 Crore INR 17,772 Crore 0.68% (31-Dec-25) vs 2.22% (Q3 FY26) (12% YoY | 3% QoQ ) (14% YoY | 3% QoQ ) Public 84% | ICD 16% (-7 bps YoY | -4 bps QoQ) 0.69% (30-Sep-25) | 0.80% (31-Dec-24) 2.24% (9M FY26) (3 bps
Slide 7: Overall Business Update
Overall Business Update Public 6 6
Slide 8: Loan Asset Mix and Disbursement
Loan Asset Mix (INR Crore) Segment Mix Retail Product Mix Retail Profile Mix 71,917 79,771 82,203 1.7% 0.4 0.4% 0.3% 27.8% 29.8% 30.6% 38.7% 39.0% 39.7% Loan Asset 98.3% 99.6% 99.7% 72.2% 70.2% 69.4% 61.3% 61.0% 60.3% 31-Dec-24 30-Sep25 31-Dec-25 31-Dec-24 30-Sep-25 31-Dec-25 31-Dec-24 30-Sep-25 31-
Slide 9: Wide Distribution Network
Wide Distribution Network Loan Asset – Geographical Breakup 358 OUR OFFICE NETWORK 305 53 32% 32% 34% 35% 34% 33% 31-Dec-24 31-Dec-25 Disbursement - Geographical Break-up 31-Dec-24 31-Dec-25 Branches/outreaches 36% 37% 37% 36% 27% 27% 31-Dec-24 31-Dec-25 Top 5 State share in the Retail Loan Asset (%
Slide 10: Well Diversified Borrowing Profile
Well Diversified Borrowing Profile Borrowing Mix Cost of Borrowing 13.9% 14.4% NHB Refinance 7.83% 7.82% 7.84% 7.83% 7.76% 7.69% 7.50% 7.44% 7.42% Term Loans 7.19% 36.1% 36.9% ECBs Deposits 5.8% 6.3% NCDs 28.0% CPs 26.5% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 10.8% 10.1% 5.4% 5.8% 30-Sep-25 31-Dec-
Slide 11: Strategic Objectives
Strategic Objectives Retail Loan Asset Grow Retail Loan Asset including high yielding Emerging Markets segment Affordable Asset Grow Affordable Loan Asset especially in Tier 2 and 3 Asset Quality Leverage underwriting and collection efficiencies to have best-in class asset quality in the industry St
Slide 12: Retail Business Focus Areas
Retail Business Focus Areas LOAN Asset (INR crore) Q3 FY26 Q2 FY26 Q3 FY25 Change (YoY) Affordable 7,140 6,531 3,838 86% • Focus on Affordable and Emerging Markets 24,998 23,994 20,786 20% Emerging Markets Segment Prime 49,793 48,914 46,051 8% to enable higher growth in Retail Loan Asset Total 81,93
Slide 13: Segment Update – Affordable
Segment Update – Affordable Public 12 12
Slide 14: Affordable Segment Update
Affordable Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 7,140 6,531 5,744 29.2% 30.2% 33.9% 35.0% 35.7% 40.2% 40.6% 40.6% 42.5% 43.3% 5,070 3,838 70.8% 69.8% 66.1% 65.0% 64.3% 59.8% 59.4% 59.4% 57.5% 56.7% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3FY25 Q4
Slide 15: Affordable Segment Distribution Strategy
Affordable Segment Distribution Strategy Disbursement Channel Mix – 9M FY26 Disbursement Geographical Breakup OUR ROSHNI OFFICE NETWORK – 9M FY26 34.8% North 31% 35% In House South DSA West 65.2% 34% Geographic Presence Loan Asset Geographical Breakup % of Loan Asset State # Branches 31-Dec-25 31-De
Slide 16: Affordable Segment Portfolio Matrix
Affordable Segment Portfolio Matrix Loan Asset by Profile – Formal/Informal Loan Asset by Ticket Size 9.0% 18.5% 25.5% 16.1% ATS 52.1% 15 Lacs 22.6% 17.4% 4.9% 33.7% SAL - Formal SAL - Informal Upto 10 lacs 10 to 15 lacs 15 to 25 lacs SE - Formal SE - Informal 25 to 35 lacs > 35 lacs Loan Asset by C
Slide 17: Affordable Segment Asset Quality
Affordable Segment Asset Quality Bounce Rate DPD 30+ (%) 1.40% 1.42% 12.0% 11.4% 11.1% 0.91% 11.0% 0.59% 0.59% 10.4% Q3 FY25 Q4 FY25 Q1 FY26 Q2FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1FY26 Q2FY26 Q3FY26 Gross NPA (%) • Scale up of field collection efforts with coordinated legal interventions 0.66% • Sequentia
Slide 18: Segment Update – Emerging Markets
Segment Update – Emerging Markets Public 17 17
Slide 19: Emerging Markets Segment Update
Emerging Markets Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 23,994 24,998 22,252 22,701 20,786 29.1% 30.1% 30.5% 32.1% 32.9% 35.2% 35.6% 35.6% 36.0% 36.7% 70.9% 69.9% 69.5% 67.9% 67.1% 64.8% 64.4% 64.4% 64.0% 63.3% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 # Q
Slide 20: Segment Update – Prime
Segment Update – Prime Public 19 19
Slide 21: Prime Segment Update
Prime Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 49,793 48,914 48,477 27.0% 27.3% 27.2% 27.9% 28.6% 39.6% 39.6% 39.4% 40.0% 40.7% 47,481 46,051 73.0% 72.7% 72.8% 72.1% 71.4% 60.4% 60.4% 60.6% 60.0% 59.3% Q3FY25 1 Q4FY25 2 Q1FY26 3 Q2FY26 4 Q3FY26 5 # Q3
Slide 22: Asset Quality
Asset Quality Public 21 21
Slide 23: Retail Portfolio Highlights
Retail Portfolio Highlights Balance portfolio Sustainable growth Maintained a balance portfolio with Individual Total sanctions in Q3 FY26 were INR 9,594 crore; Housing Loan at 72% and salaried customer at registering a growth of 7% over previous quarter. 61% of the retail portfolio Focussed approac
Slide 24: Retail Collections Update
Retail Collections Update Collection Efficiency Write off Recovery (Amount in INR Cr) Dedicated team is handling the written off cases with the help Dedicated team to focus on bucket X, pre-NPA and NPA resolutions of legal to get maximum recovery through settlement 46 49 40 34 22 99.5% 99.8% 99.2% 9
Slide 25: Asset Quality
Asset Quality GNPA (INR Crore) GNPA & NNPA (%) 1.19% 1.08% 1.06% 1.04% 1.04% 857 855 Overall 825 830 816 0.80% 0.69% 0.69% 0.69% 0.68% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Gross NPA (%) NNPA (%) 857 855* 1.21% 1.09% 1.07% 1.05% 1.04% Retail 825 830 816 0.81% 0.70% 0.
Slide 26: Expected Credit Loss (ECL) Provisions
Expected Credit Loss (ECL) Provisions Particulars (INR Crore) 31-Dec-25 30-Sep-25 31-Dec-24 Gross Stage 1* 79,726 77,179 68,652 Gross Stage 1 as % to Loan Asset 96.99% 96.75% 95.46% ECL Provision Stage 1 366 381 373 ECL Provision % Stage 1 0.46% 0.49% 0.54% Gross Stage 2* 1,623 1,761 2,407 Gross Sta
Slide 27: Technology Update
Technology Update Public 26 26
Slide 28: IT Transformation: Completed for all major platforms & capabilities
IT Transformation: Completed for all major platforms & capabilities Scalable Technology Platform Powered with Modern technology, Cloud based scalability, Advanced Analytics App Collection Customer Relation Digital Onboarding Loan Origination Loan Servicing Analytics Management Management • Digitized
Slide 29: Financial Performance
Financial Performance Public 28 28
Slide 30: Financial Ratio Analysis – Quarter on Quarter
Financial Ratio Analysis – Quarter on Quarter Average Yield Average Cost of Borrowing 10.12% 10.03% 9.99% 9.95% 9.72% 7.83% 7.84% 7.76% 7.69% 7.50% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Spread Net Interest Margin 2.29% 2.19% 2.23% 2.26% 2.22% 3.70% 3.75% 3.74% 3.67% 3
Slide 31: Financial Ratio Analysis
Financial Ratio Analysis Average Yield Average Cost of Borrowings Spread Net Interest Margin 10.28% 10.35% 10.05% 9.89% 8.01% 7.86% 7.65% 2.81% 3.73% 3.74% 3.70% 3.67% 7.47% 2.34% 2.19% 2.24% FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 Gross Interest Margi
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Crore) Q3 FY26 Q3 FY25 YoY Q2 FY26 QoQ 9M FY26 9M FY25 YoY FY25 FY24 FY23 Interest Income 2019 1,848 9% 2,017 0% 6,017 5,368 12% 7,274 6,742 6,199 Add: Net gain on fair value changes 5 5 -3% 14 -64% 33 21 60% 27 35 34 Add: Income on derecognized
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR Crore) 30-Sep-25 31-Mar-25 31-Mar-24 31-Mar-23 Particulars (INR Crore) 30-Sep-25 31-Mar-25 31-Mar-24 31-Mar-23 LIABILITIES ASSETS 1 Financial Liabilities 1 Financial Assets (a) Derivative financial instruments - 50 - - (a) Cash and cash equivalents 1,331 2
Slide 34: Key Takeaways
Key Takeaways Focus on Retail Loan Growth Grow Affordable Segment Asset Quality including Emerging Markets Segment Continued focus on Retail Segment incl. high Expanded presence to 198 locations to Augmented Collections efforts led to Gross yielding Emerging Markets business support growth and Net N
Slide 35: Annexure
Ghar Ki Baat Annexure
Slide 36: Shareholding Pattern
Shareholding Pattern Shareholding as on 31-Dec-25 Top 10 Shareholders 10.0% 28.0% • Promoter (PNB) 14.7% • Birla Sun Life Mutual Fund • HSBC Mutual Fund • Vanguard • SBI Life Insurance • Kotak Mutual Fund 17.2% • PI Opportunities AIF V LLP 30.0% • Canara Robeco Mutual Fund • HDFC Mutual Fund Promote
Slide 37: Distinguished Board of Directors
Distinguished Board of Directors D Surendran Nilesh Shivji Vikamsey Chairperson (Non-Executive Nominee Director ) Independent Director Tejendra Mohan Bhasin Neeraj Vyas Independent Director Independent Director Gita Nayyar Dilip Kumar Jain Independent Director Non-Executive Nominee Director Ajai Kum
Slide 38: Experienced and Professional Management Team
Experienced and Professional Management Team Ajai Kumar Shukla Jatul Anand Vinay Gupta Managing Director and CEO Executive Director Chief Financial Officer Satish Singh Valli Sekar Veena Kamath Chief Business Officer - Affordable Chief People Officer Company Secretary Business Krishna Kant Anshul Da
Slide 39: Governance
Governance Governance Regulations Good Practices Policies Key Features of Governance • Risk Management Committee(RMC) of the Board oversees the company’s Risk Management practices and approve Risk Based Strategy Report the Risk Management Framework Performance of the company Management • Executive R
Slide 40: Overarching ESG Framework
Overarching ESG Framework Our Motivation Ghar ki Baat Through Strong Board Level Oversight at Sustainability team Governance for Agenda Leadership Sustainability Environment Social Governance Empowered by Conserve Resources & Promote social equity & Cultivate leading our ESG Ethos Bolster climate He
Slide 41: Sustainable Value Creation Model Ratings
Sustainable Value Creation Model Our Enablers Delivering on Strategic Priorities Creating Sustainable Ratings Focus on retail loan Value for Stakeholders book growth Financial Capital 60+ Sound capital base (equity, Investors ESG rating by debt). Expand Maintain a Improved financial metrics NSE Sust
Slide 42: ESG Dashboard
ESG Dashboard Environment Social Governance ~3.2 GJ/ crore revenue 82%+ Women 100% Energy Intensity 2X Loan Applicants/Co- Applicants** Disclosures on Essential & Leadership Indicators in BRSR Times in a ~0.65 Ton/ crore revenue row CO2e Emissions Intensity 17%+ Women Aligning with Scope 1 & Scope 2
Slide 43: An award studded journey. One shared spirit.
Ghar Ki Baat An award studded journey. One shared spirit.
Slide 44: Glossary
Glossary Ratios Formulas Used Average Yield (%) (Interest Income + Assignment Income) on Loans / Average Loan Book NIM (%) Net Interest Income including assignment income / Average Earning Assets Opex to ATA (%) Total Operating Expenditure net of acquisition cost / Average Total Assets as per Balanc
Slide 45: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by PNB Housing Finance Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation, directly or indirectly, in any man
Slide 46: Thank You
Thank You Company: PNB Housing Finance Limited CIN: L65922DL1988PLC033856 Mr. Chaitanya Yadav National Head – Corporate Planning and Investor Relations Phone: +91 124 6030500 Investor.relations@pnbhousing.com www.pnbhousing.com Public 45
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