Pnb Housing Finance Limited · NSE:PNBHOUSING
Pnb Housing Finance — Q4 FY2025 Earnings Presentation
51 slides from Pnb Housing Finance's earnings presentation, Apr 28, 2025
Slide 1: Stock exchange cover letter
Ref: PNBHFL/SE/EQ/FY2025-26/07 April 28, 2025 The BSE Limited The 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: PNB
Slide 2: Investor Presentation Quarter Ended March 2025
Investor Presentation Quarter Ended March 2025 28-April-2025 Public
Slide 3: Table of Content
Table of Content 1 Key Performance Highlights 2 Business Update 3 Segment Update – Prime 4 Segment Update – Emerging Markets 5 Segment Update – Affordable 6 Asset Quality 7 Technology Update 7 Financial Performance 8 Annexure Public
Slide 4: FY25 Performance Report – On track
FY25 Performance Report – On track 31-Mar-24 31-Mar-25 • Retail disbursement grew by 26% YoY Disbursement INR 17,583 crore INR 21,972 crore 25% • Affordable and Emerging Markets segment accounted for 36% of Retail Disbursement • Crossed INR 75,000 crore in Loan Asset & INR 80,000 crore in Loan Asset
Slide 5: Key Performance Highlights
Key Performance Highlights Retail Segment Corporate Segment Total 6,854 (Q4 FY25) (24% YoY | 27% QoQ) NIL (Q4 FY25) 6,854 (Q4 FY25) (23% YoY | 27% QoQ) • Prime: 4,141 (7% YoY) • Emerging Markets: 1,422 (40% YoY) 34 (FY25) 21,972 (FY25) Disbursement • Affordable: 1,291 (100% YoY) ( -66% YoY) (25% YoY
Slide 6: Key Performance Highlights
Key Performance Highlights AUM Loan Asset Deposits Net NPA Spread 2.19% (Q4FY25) INR 17,642 Crore 0.69% (31-Mar-25) vs ( +9 bps YoY | -10 bps QoQ) INR 80,397 Crore INR 75,765 Crore (+13% YoY | +5% QoQ ) (+16% YoY | +5% QoQ ) Public 87% | ICD 13% 0.80% (31-Dec-24) | 2.19% (FY25) 0.95% (31-Mar-24) (-1
Slide 7: Overall Business Update
Overall Business Update Public 6 6
Slide 8: Disbursement and Loan Asset Mix
Loan Asset Mix (INR Crore) Segment Mix Retail Product Mix Retail Profile Mix 65,358 71,917 75,765 3.1% 3.1 1.7 1.7% 1.3% 28.1% 27.8% 28.5% 39.2% 38.7% 39.1% Loan Asset 96.9% 98.3% 98.7% 71.9% 72.2% 71.5% 60.8% 61.3% 60.9% 31-Mar-24 31-Dec-24 31-Mar-25 31-Mar-24 31-Dec-24 31-Mar-25 31-Mar-24 31-Dec-2
Slide 9: Wide Distribution Network
Wide Distribution Network Loan Asset – Geographical Breakup 356 OUR OFFICE NETWORK 300 56 33% 32% 32% 34% 35% 34% 31-Mar-24 31-Mar-25 Disbursement - Geographical Break-up 31-Mar-24 31-Mar-25 Branches/outreaches 35% 35% 37% 37% 14,000+ Channel Partners for loans & deposits 28% 28% 31-Mar-24 31-Mar-25
Slide 10: Well Diversified Borrowing Profile
Well Diversified Borrowing Profile Borrowing Mix Cost of Borrowing 7.98% 7.93% 7.92% 9.2% 13.6% NHB Refinance 7.75% 7.84% 7.82% 7.83% 7.82% 7.84% 7.83% Term Loans 40.2% ECBs 37.7% Deposits NCDs 2.6% 5.8% CPs 32.3% 28.3% Q4 FY24 Q1FY25 Q2 FY25 Q3 FY25 Q4 FY25 9.6% 9.5% Reported COB Incremental COB 6.
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 strategy ramping up well
Retail strategy ramping up well Retail Growth strategy and objectives… Tech focus New strategy Leverage strong Management team Continue growth Focus on higher for operational focused on building parentage and best with deep retail trajectory in yielding Emerging efficiency; Salesforce leading retail
Slide 13: Retail Business Focus Areas
Retail Business Focus Areas LOAN Asset (INR crore) Q4FY25 Q3FY25 Q4FY24 Change (YoY) Prime 55,607 53,669 49,828 12% • Retail Segment classified as Emerging Markets 14,125 13,169 11,688 21% Prime, Emerging Markets and Affordable Segment Affordable 5,070 3,838 1,790 183% Total 74,802 70,676 63,306 18%
Slide 14: Segment Update – Prime
Segment Update – Prime Public 13 13
Slide 15: Prime Segment Update
Prime Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 53,669 55,607 50,825 52,466 49,828 28.1% 27.7% 27.5% 27.3% 27.7% 41.3% 40.9% 40.5% 40.4% 40.5% 71.9% 72.3% 72.5% 72.7% 72.3% 58.7% 59.1% 59.5% 59.6% 59.5% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4 FY25 Q4FY24 Q1FY25
Slide 16: Segment Update – Emerging Markets
Segment Update – Emerging Markets Public 15 15
Slide 17: Emerging Markets Segment Update
Emerging Markets Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 13,169 14,125 11,971 12,545 11,688 27.1% 27.1% 27.7% 28.4% 30.0% 29.5% 29.0% 28.7% 28.7% 29.3% 72.9% 72.9% 72.3% 71.6% 70.0% 70.5% 71.0% 71.3% 71.3% 70.7% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4F25 Q4FY
Slide 18: Segment Update – Affordable
Segment Update – Affordable Public 17 17
Slide 19: Roshni Business: Key Milestones
Roshni Business: Key Milestones Jan-23 Jul-23 Nov-23 Dec-23 Mar-24 May-24 Oct-24 Mar-25 Reached disbursement Loan Asset at Started with Expanded presence to Total footprint of Loan Asset run-rate of Loan Asset at INR Loan Asset crossed INR 5 Crore INR 1,000 100 branches 160 locations; Loan crossed I
Slide 20: Affordable Segment Distribution Strategy
Affordable Segment Distribution Strategy Disbursement Channel Mix – FY25 Disbursement Geographical Breakup OUR ROSHNI OFFICE NETWORK 33% 36% 34.0% North In House South DSA West 66.0% 30% Geographic Presence Loan Asset Geographical Breakup % of Loan Asset State # Branches 31-Mar-25 31-Mar-24 Tamil Na
Slide 21: Affordable Segment Update
Affordable Segment Update Loan Asset (INR crore) Loan Asset by Product (%) Loan Asset by Profile (%) 5,070 29.6% 29.4% 30.6% 29.2% 30.2% 38.2% 38.4% 39.2% 40.2% 40.6% 3,838 2,959 2,361 1,790 70.4% 70.6% 69.4% 70.8% 69.8% 61.8% 61.6% 60.8% 59.8% 59.4% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25
Slide 22: Affordable Segment Portfolio Matrix
Affordable Segment Portfolio Matrix Loan Asset by Profile – Formal/Informal Loan Asset by Ticket Size 10.9% 16.8% 24.8% 16.3% ATS 54.3% 16 Lacs 22.6% 15.8% 5.1% 33.5% 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
Slide 23: Affordable Segment Asset Quality
Affordable Segment Asset Quality Bounce Rate DPD 30+ (%) 11.0% 10.4% 0.59% 0.59% 9.7% 9.7% 8.2% 0.42% 0.12% 0.02% Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Gross NPA (%) 0.23% 0.21% • Early warning signals are encouraging • Collection architecture in place 0.06%
Slide 24: Asset Quality
Asset Quality Public 23 23
Slide 25: Retail Portfolio Highlights
Retail Portfolio Highlights Sustainable growth Stable Credit Quality Quarter on quarter improvement in sourcing Total of 50,288 logins were booked in Q4 FY25 as quality; 84% of the loans booked in Q4 FY25 against 41,348 logins in Q3 FY25 had bureau score of more than 700 Balance portfolio Focussed a
Slide 26: Retail Collections Update
Retail Collections Update Collection Efficiency Write off Recovery Dedicated team to focus on bucket X, pre-NPA and NPA resolutions Dedicated team is handling the written off cases with the help of legal to get maximum recovery through settlement 178 68 19 99.2% 99.1% 99.9% 99.5% 99.8% FY23 FY24 FY2
Slide 27: GNPA & NNPA Asset Quality
Asset Quality Overall Retail Corporate GNPA (INR 916 906 68 Crore) 984 906 865 857 816 865 857 816 0 0 0 0 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 3.31% 1.50% 1.45% 1.39% 1.35% 1.24% 1.27% 1.21% 1.19% NNPA (%) 1.08% 1.09% GNPA & 1.11%
Slide 28: Expected Credit Loss (ECL) Provisions
Expected Credit Loss (ECL) Provisions Particulars (INR Crore) 31-Mar-25 31-Dec-24 31-Mar-24 Gross Stage 1* 73,132 68,652 62,430 Gross Stage 1 as % to Loan Asset 96.52% 95.46% 95.52% ECL Provision Stage 1 537 373 565 ECL Provision % Stage 1 0.73% 0.54% 0.90% Gross Stage 2* 1,817 2,407 1,944 Gross Sta
Slide 29: Expected Credit Loss (ECL) Provisions – Retail & Corporate
Expected Credit Loss (ECL) Provisions – Retail & Corporate Retail Corporate Particulars (INR Crore) 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24 Gross Stage 1* 72,184 60,573 948 1,858 Gross Stage 1 as % to Loan Asset 96.50% 95.68% 98.48% 90.53% ECL Provision Stage 1 287 260 251 305 ECL Provision % Stage
Slide 30: Technology Update
Technology Update Public 29 29
Slide 31: Technology Vision and Foundations
Technology Vision and Foundations Tech Vision PNBHFL to be a large Digital player in the HFC ecosystem collaborating and partnering with fintech, banks, market aggregators etc., leveraging synergy & scale through platforms, offering personalised products and ease of services promoting high levels of
Slide 32: IT Landscape: Overall Flow and Applications
IT Landscape: Overall Flow and Applications Public 31
Slide 33: IT Landscape: Overall Flow and Applications
IT Landscape: Overall Flow and Applications Key Updates: - LMS upgraded with several new capabilities and automations - Deposit core platform phase 2 launched successfully including service and renewal modules, thereby completing upgrade of Deposit core platform - New modules launched for collection
Slide 34: Financial Performance
Financial Performance Public 33 33
Slide 35: Retail and Corporate Profit & Loss Statement – FY25
Retail and Corporate Profit & Loss Statement (Consolidated) –– FY25 Retail Corporate Total Particulars (INR crore) FY25 FY24 Chg (YoY%) FY25 FY24 Chg (YoY%) FY25 FY24 Chg (YoY%) Net Interest Income 2,621 2,279 15.0% 128 237 -46.0% 2,750 2,516 9.3% Non fund based income 388 272 42.4% 3 8 -61.4% 391 2
Slide 36: Financial Ratio Analysis – Quarter on Quarter
Financial Ratio Analysis – Quarter on Quarter Average Yield Average Cost of Borrowing 10.08% 10.03% 10.05% 10.12% 10.03% 7.98% 7.92% 7.84% 7.83% 7.84% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Spread Net Interest Margin 2.21% 2.29% 2.19% 2.10% 2.11% 3.68% 3.70% 3.75% 3.65
Slide 37: Financial Ratio Analysis - Annual
Financial Ratio Analysis - Annual Average Yield Average Cost of Borrowings Spread Net Interest Margin 10.28% 10.35% 10.05% 8.01% 7.86% 2.81% 3.73% 3.74% 3.70% 9.42% 7.30% 7.47% 2.34% 2.12% 2.19% 2.80% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross Interest Marg
Slide 38: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Crore) Q4 FY25 Q4 FY24 YoY Q3 FY25 QoQ FY25 FY24 YoY FY23 Interest Income 1,906 1,693 13% 1,848 3% 7,274 6,742 8% 6,199 Add: Net gain on fair value changes 6 9 - 5 - 27 35 - 34 Add: Income on derecognized (assigned) loans 0 - - - 0 0 - 11 Less: F
Slide 39: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INR Crore) 31-Mar-25 31-Mar-24 31-Mar-23 Particulars (INR Crore) 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 2,160 2,142 3,678 (b) Debt Se
Slide 40: Key Takeaways
Key Takeaways Focus on Retail Loan Growth Grow Affordable Segment Asset Quality including Emerging Markets Segment Expanded presence to 200 locations to Augmented Collections efforts led to Continued focus on Retail Segment incl. high support growth improvement in Gross and Net NPA to yielding Emerg
Slide 41: Annexure
Ghar Ki Baat Annexure
Slide 42: Shareholding Pattern
Shareholding Pattern Shareholding as on 31-Mar-25 Top 10 Shareholders 11.2% 28.1% • Promoter (PNB) 8.7% • Carlyle • GIC Singapore • Birla Sun Life Mutual Fund • HSBC Mutual Fund 20.1% 10.4% • Nippon Mutual Fund 12.5% • Tata Mutual Fund 9.0% • Vanguard • HDFC Mutual Fund Promoters Quality Investment
Slide 43: Distinguished Board of Directors
Distinguished Board of Directors Chandrasekaran Sunil Kaul Nilesh Shivji Vikamsey Non-Executive Nominee Director Ramakrishnan Independent Director Independent Director Tejendra Mohan Bhasin Sudarshan Sen Neeraj Vyas Independent Director Independent Director Independent Director Pavan Kaushal Gita Na
Slide 44: Experienced and Professional Management Team
Experienced and Professional Management Team Girish Kousgi Vinay Gupta Amit Singh Managing Director and CEO Chief Financial Officer Chief People Officer Ajay Kumar Mohanty Dilip Vaitheeswaran Jatul Anand Head - Internal Audit and Chief of Chief Sales Officer - Retail Chief Credit & Collections Offic
Slide 45: Governance
Governance Governance Regulations Good Practices Policies Key Features of Governance • RMC of the Board oversees the company’s Risk Management practices and approve the Risk Risk Based Management Framework of the Strategy Report Performance company Management • Executive RMC Comprising of senior mem
Slide 46: Overarching ESG Framework
Overarching ESG Framework Our Motivation Ghar ki Baat Through Strong ESG, A Board ESG Oversight at Governance Dedicated ESG team Level Agenda Leadership CONSERVE RESPECT PRACTICE Empowered by our ESG Conserve Resources & Promote social equity & Practice Sustainability strategic areas as a “Way of li
Slide 47: ESG Dashboard
ESG Dashboard Environment Social Governance ~2.95 GJ/crore income Project Parivartan- 82%+ Women 100% BRSR Energy Intensity 2 Infrastructure upgradation at Balika Inter College, Ghaziabad Loan Applicants/Co- Applicants** Disclosures on ESG ~0.60 Ton/crore income Times New Website CO2e Emissions Inte
Slide 48: Ghar Ki Baat
Ghar Ki Baat An award studded journey. One shared spirit. Because when every department gives its best, winning becomes {Nar Ki Baat
Slide 49: 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 Operating Expenditure(Employee Cost + Other Expenses + Depreciation - Acquisition Cost + ESOP cost + CSR
Slide 50: 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 51: Thank You
Thank You Company: PNB Housing Finance Limited CIN: L65922DL1988PLC033856 Ms. Deepika Gupta Padhi National Head-Investor Relations & Treasury Phone: +91 124 6030500 Investor.relations@pnbhousing.com www.pnbhousing.com Public 50
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