Offering the rating rationale, India Ratings stated that the ratings factor the significant presence of PNB Housing Finance Limited in the mortgage space that has seen multiple business cycles. The ratings also factor in the granularisation of the loan book, with 98% of the book being retail, and almost complete rundown of the corporate book. India Ratings expects its credit costs to be modest, given the retail and granular nature of the loan book. The Rs 2,500 crore equity infusion in the form of rights issue offers the necessary growth capital to expand the franchisee in the granular mortgage space. However, the performance of the affordable housing portfolio, which is at a nascent stage, remains a monitorable. The agency further stated that a substantial proportion of granular stable funding in the borrowing mix, a sizeable expansion in the franchisee, gaining the market leadership, and expanding its presence across multiple geographies while maintaining its credit costs will be positive for the ratings. However, the company's inability to expand its franchisee on account of competitive headwinds or otherwise, elevated delinquency levels such that the gross NPA exceeding 5%, on a sustained basis, and a significant deterioration in PNBHF's liquidity buffer, on a sustained basis, could lead to a negative ratings action. PNB Housing Finance is a deposit-accepting housing finance company registered under the National Housing Bank and the Companies Act, 1956. PNBHF provides housing loans to individuals for purchase, construction, repair, and upgrade of houses. It also provides loans against property, loans for commercial property, and loans for purchase of residential plots, and real estate development loans (no new sanctions of real estate development loans since April 2019). The scrip fell 1.61% to currently trade at Rs 850.50 on the BSE. Powered by Capital Market - Live

Profit before tax (PBT) stood at Rs 604.73 crore in Q2 FY25, up 19.25% as compared with Rs 507.11 crore in Q2 FY24. In Q2 FY25, net interest income (NII) rose 1.2% YoY to Rs 669 core; lower growth in NII is due to declining impact of corporate book. Net interest margin (NIM) stood at 3.68% in Q2 FY25 as compared with 3.95% in Q2 FY24. Disbursement stood at Rs 5,341 crore in Q2 FY25, up 27.8% YoY. Retail Segment grew by 28.2% YoY to Rs 5,341 crore. Loan asset grew by 14.2%YoY to Rs 69,501 crore as on 30th September 2024, Retail loans grew by 16.2% YoY to Rs 67,970 crore as on 30th September 2024 while corporate loans are at Rs 1,531 crore as on 30th September 2024, reduced by 35.7% as compared with 30th September 2023. Asset under Management (AUM) grew by 10.8% YoY to Rs 74,724 crore as on 30th September 2024. Gross non performing asset (GNPA) stood at 1.24% as on 30th September 2024 as compared to 1.78% as on 30th September 2023 and 1.35% as on 30th June 2024. Net NPA stood at 0.84% as on 30th Sep 2024. The company's capital to risk asset ratio (CRAR) stood at 29.13% as on 30th September 2024, of which Tier I capital is 28.06% and Tier II is 1.07% as compared 30.38% as on 30th September 2023, of which Tier I capital was 28.50% and Tier II was 1.88%. As on 30 September 2024, the company has 303 branches / outreach locations. Affordable business presence expanded to 160 branches. Girish Kousgi, managing director & CEO said: 'The company's focused approach led to growth across all parameters. The Retail Asset grew by 16.2% YoY inching towards our stated guidance of 17% for FY25. Our affordable segment is performing well and crossed INR 3,000 crore in Loan Asset in October 2024. The Company registered retail disbursements growth of 28% YoY to INR 5,341 crore during the reported quarter i.e. Q2 FY25. The portfolio asset quality continues to improve with Gross NPA at 1.24% as on 30th Sept 2024.' PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses.Powered by Capital Market - Live

Net profit of PNB Housing Finance rose 22.63% to Rs 469.68 crore in the quarter ended September 2024 as against Rs 383.00 crore during the previous quarter ended September 2023. Sales rose 5.68% to Rs 1878.68 crore in the quarter ended September 2024 as against Rs 1777.75 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1878.681777.75 6 OPM %92.4188.54 - PBDT618.58518.44 19 PBT604.73507.11 19 NP469.68383.00 23 Powered by Capital Market - Live

PNB Housing Finance will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live

PNB Housing Finance has allotted 81,940 equity shares under ESOP on 24 September 2024. With this allotment, the paid up equity share capital has increased to Rs 2,59,84,28,510 consisting of 25,98,42,851 number of equity shares of Rs 10/- each. Powered by Capital Market - Live

LIC Housing Finance Ltd, Emami Ltd, Ajanta Pharma Ltd and Mahanagar Telephone Nigam Ltd are among the other losers in the BSE's 'A' group today, 16 September 2024.PNB Housing Finance Ltd tumbled 5.98% to Rs 1067.75 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2.82 lakh shares were traded on the counter so far as against the average daily volumes of 13.76 lakh shares in the past one month.LIC Housing Finance Ltd lost 5.74% to Rs 681.85. The stock was the second biggest loser in 'A' group.On the BSE, 4.68 lakh shares were traded on the counter so far as against the average daily volumes of 1.03 lakh shares in the past one month.Emami Ltd crashed 4.77% to Rs 750.5. The stock was the third biggest loser in 'A' group.On the BSE, 69257 shares were traded on the counter so far as against the average daily volumes of 18481 shares in the past one month.Ajanta Pharma Ltd pared 4.38% to Rs 3183.55. The stock was the fourth biggest loser in 'A' group.On the BSE, 5671 shares were traded on the counter so far as against the average daily volumes of 9590 shares in the past one month.Mahanagar Telephone Nigam Ltd plummeted 4.01% to Rs 56.91. The stock was the fifth biggest loser in 'A' group.On the BSE, 5.52 lakh shares were traded on the counter so far as against the average daily volumes of 10.32 lakh shares in the past one month.Powered by Capital Market - Live

The Board of PNB Housing Finance at its meeting held on 09 September 2024 has approved issuance of non-convertible debentures up to Rs 2,500 crore on private placement basis in tranches over the next six months. Powered by Capital Market - Live

PNB Housing Finance will hold a meeting of the Board of Directors of the Company on 9 September 2024.Powered by Capital Market - Live

The issue will be done on a private placement basis, in tranches over the next six months. PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses. The company's consolidated net profit rose 24.6% to Rs 432.81 crore on 7.3% increase in total income to Rs 1,832.08 crore in Q1 FY25 over Q1 FY24. The counter hit a 52-week high of Rs 1,109.90 in intraday session. Powered by Capital Market - Live

The key equity indices traded with minor gains in early trade. The Nifty traded above 25,200 level. Media, metal and banking stocks advanced while realty, pharma and IT stocks declined. At 09:25 IST, the barometer index, the S&P BSE Sensex, advanced 143.74 points or 0.17% to 82,496.38. The Nifty 50 index added 18.55 points or 0.07% to 25,217.25. In the broader market, the S&P BSE Mid-Cap index jumped 0.38% and the S&P BSE Small-Cap index gained 0.90%. The market breadth was strong. On the BSE, 2,328 shares rose and 557 shares fell. A total of 112 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 975.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 97.35 crore in the Indian equity market on 4 September 2024, provisional data showed. Stocks in Spotlight: PNB Housing Finance advanced 1.15% after the company's board will meet on 9 September 2024, to consider the issuance of non convertible debentures (NCDs) upto Rs 2,500 crore on a private placement basis, in tranches over the six months. Canara Bank shed 0.09%. The bank will issue five year $300 million medium-term notes through IFSC banking unit. The bonds are to be issued at a coupon rate of 4.896% to be paid on semi annually. Godrej Properties rose 0.53%. The company's board approved the issuance of 6,460 unsecured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1 lakh, aggregating to Rs 64.60 crore. Numbers to Track: The yield on India's 10-year benchmark federal paper jumped 1.53% to 6.975 as compared with previous close 6.975. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.9725, compared with its close of 84.0175 during the previous trading session. MCX Gold futures for 4 October 2024 settlement rose 0.01% to Rs 71,487. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 101.32. The United States 10-year bond yield fell 0.13% to 3.765. In the commodities market, Brent crude for November 2024 settlement gained 10 cents or 0.14% to $72.80 a barrel. Global Markets: Asian markets traded mixed on Thursday, as investors assessed July pay data out of Japan. Average monthly cash earnings in the country rose 3.6% year-on-year, a softer rise compared to the 4.5% climb seen in June. Investors are looking ahead for other economic data coming from the region include trade data from Australia and Singapore's retail sales numbers. The US job openings data for July, at 7.67 million, fell below estimates. This marked the lowest level since early 2021, indicating a potential challenge in achieving a soft landing for the world's largest economy. Market participants will closely monitor the upcoming August economic report on Friday, which could further influence the magnitude of rate cuts. China's economic difficulties intensified as JPMorgan strategists downgraded the country's stock outlook. Citing a challenging economic landscape and heightened volatility surrounding the US election, they lowered their rating from overweight to neutral. In an attempt to stimulate the property market and broader economy, China is considering interest rate cuts on a significant portion of its mortgage debt. A notable development saw India surpass China as the largest weighting in the MSCI EM investable market index (IMI). US stock markets experienced a mixed start to September. The S&P 500 and Nasdaq Composite declined for a second consecutive day Wednesday, while the Dow Jones Industrial Average gained slightly. A temporary return to a normal yield curve provided some support to US stocks, easing recession concerns that had previously plagued investors.Powered by Capital Market - Live