PNB Housing Finance Ltd

PNB Housing Finance Limited: Trading Window closure from Thursday, October 01, 2026, in connection with the quarter ended September 30, 2026 results; window to reopen 48 hours after disclosure of financial results to the Stock Exchanges.

Rating Action & Rated Instruments

• Long-term bank facilities (₹10,000 cr): [ICRA]AAA (Stable); Reaffirmed.
• NCDs (₹500 cr): [ICRA]AAA (Stable); Reaffirmed.
• NCDs (₹2,000 cr): [ICRA]AAA (Stable); Assigned.
• Total rated amount stands at ₹12,500 crore.

Rationale & Financial Profile

• Established mortgage lender with AUM ₹93,021 crore as of Jun 30, 2026.
• GS3 at 0.9% as of Jun 2026; asset quality improving.
• CRAR 28.3%; Tier I 27.9% as of Jun 30, 2026.
• Promoter PNB to continue support; stake ~28%.
• Liquidity adequate; coverage 146%; diversified funding.
• FY2026 PAT ₹2,291 crore; RoMA 2.5%; RoNW 12.7%; Q1 FY2027 PAT ₹557 crore.
• AHF and construction finance monitorable; seasoning concerns.

Outlook & Key Sensitivities

• Outlook: Stable.
• Rating sensitivities: Downgrade risk from asset quality deterioration or higher gearing.
• Promoter risk: Change in PNB support could affect rating.
• Material change since last: New NCD programme; existing ratings reaffirmed.

IT Function Head relief

• Mr. Anubhav Rajput, Function Head (IT), relieved from services effective Sept 23, 2026.

CIO appointment

• Mr. Santosh Singh appointed Chief Information Officer, effective Sept 8, 2026.

Meeting Details

• Date and time: Monday, September 21, 2026, 1:00 A.M.–5:00 P.M. IST.
• Type/Mode: One-on-One and Group Investor meetings (Physical).
• Organizer: J.P. Morgan India Conference.
• Location: Mumbai.

Participants

• Chief Financial Officer (CFO) participated.
• National Head – Corporate Planning & Investor Relations participated.

Purpose

• Discussed business strategy, margins, asset quality, return profile and future outlook.

Additional Notes

• Investor presentations, earnings call recordings/transcripts, and press release are already submitted to stock exchanges.

Senior management change

• Jatul Anand’s role changed from Executive Director (non-board) to Chief Operating Officer (COO).
• As COO, he will oversee key operational and business support functions.
• He will work with the Managing Director & CEO to drive operational excellence and governance.
• This change is for strengthening execution of strategic initiatives.
• Intimation to be available on the company's website.

Meeting Details

• Date: September 23, 2026.
• Event: Citi India Financials Investor Forum.
• Type: Group meeting.
• Mode: Virtual.

Participants

• Company officials (management) to participate.

Purpose & Presentations

• Purpose: Investor interaction at the Citi India Financials Investor Forum.
• Investor presentations already submitted to stock exchange and available on the company website.

Debt Issuance Details

• Allotment of 50,000 NCDs at ₹1,00,000 face value each totaling ₹500 crore.
• Private placement via NSE's Electronic Book Provider platform.
• NCDs proposed to be listed on NSE's Wholesale Debt Market.
• Tenure five years with maturity on 17 September 2031.
• Coupon rate 8.135% per annum.
• Security: exclusive charge on specific book debts, minimum 1x coverage.
• There are no special rights attached to the debentures.
• Default triggers additional 2% p.a. interest on overdue amount.
• Redemption payable in full at maturity on 17 September 2031.

Meeting Details

• Date: September 21, 2026; Event: J.P. Morgan India Conference; Type: One-on-One and Group; Mode: Physical; Location: Mumbai.
• Key company participants: Company officials (management) participating.
• Investor presentations already submitted to stock exchange and available on the company website.

NCD issue approval

• Board approved private placement of NCDs up to INR 6,000 crore, in one or more tranches.
• NCDs may include green shoe option, as decided by the Board.
• Shareholder approval obtained for NCD up to INR 10,000 crore at AGM Aug 17, 2026.

Listing and allotment details

• NCDs to be listed on NSE-WDM and/or BSE.
• Tenure, coupon, security details to be provided at allotment.

Management transition

• CIO Anubhav Rajput relief extended; to be relieved on or before Sep 30, 2026.