PNB Housing Results Analysis-Q3FY26

Interest Earned for Q3FY26 is Rs. 2,019 Crs., 9.25% growth YoY, Net Interest Income is Rs. 766 Crs., 11% growth YoY, Total Net Income is Rs. 868 Crs., 10.57% growth YoY, Pre-Provisioning Operating Profit is Rs. 628 Crs., 8.43% growth YoY, PBT is Rs. 668 Crs., 8.57% growth YoY, Net profit is Rs. 520 Crs., 7.67% growth YoY (which includes 5.9 Cr. one-time impact of New Labour Code). For Q3FY26 Gross NPA 1.04% vs 1.19% in Q3FY25, Net NPA 0.68% vs 0.80% in Q3FY25, Net Interest Margin 3.63% vs 3.70% in Q3FY25. Return on Assets is 2.40% declined by 12 BPS on YoY basis, Closing Loan Asset as on Q3FY26 is Rs. 82,203 Crs., 14% growth YoY. On QoQ basis Interest Earned growth is flat, Net Interest Income has grown by 2.12%, Total Net Income growth is flat, Pre-Provisioning Operating Profit has Negative growth by 2.88%, PBT grown negatively by 12% and PAT grown negatively by 10.53% (which includes 5.9 Cr. one-time impact of New Labour Code). Company declared a written-off corporate account as “fraud” but already written off/provisioned, there is no material adverse effect on financial of the company” and “appropriate legal measures” underway. Retail book growth guidance reiterated: 17%–18%, with “higher focus on Emerging Markets and Affordable.”