PNB Housing Finance Achieves Milestone With 300 Branches Nationwide

On April 8, 2024, one of the leading housing finance companies in India, PNB Housing Finance, announced the successful expansion of its distribution network to 300 branches across the country.

The company stated in an exchange filing that this strategic growth marks a significant milestone in its journey towards offering accessible and varied housing finance solutions to customers. PNB Housing Finance is spread across more than 150 unique cities in India and will now be able to fulfil the homeownership dreams of millions of people and contribute to nation-building.

PNB Housing Finance added 100 branches in the last 4 months of FY 2024 alone, taking the total number to 300. The company provides customised financial solutions through 90 branches dedicated to serving Prime home loan customers and a robust network of 160 branches to meet the needs of its affordable housing segment, Roshni. Further, PNB Housing Finance has also diversified into a new category, ‘Emerging Markets’, to leverage opportunities in the high-yielding customer segment through 50 branches in select geographies.

The Managing Director and CEO of PNB Housing Finance, Mr Girish Kousgi, said, “As an organisation that recognises the cherished aspiration of individuals to own a home, we strategically chose to strengthen our omnichannel presence and expand our distribution footprint to provide tailored housing finance solutions to our customers.”

He also stated, “Further, our wide network of 300 branches will allow us to leverage market opportunities across diverse consumer segments and maximise profitability for the organisation. We are excited to advance in this journey and leap into the next phase of growth.”

On April 8, 2024, PNB Housing Finance share price opened at ₹773.90, touching the day’s low at ₹759.00, as of 12:48 PM on the NSE.

About PNB Housing Finance

PNB Housing Finance Limited (PNB Housing) is a housing finance company registered with the National Housing Bank (NHB). The company is promoted by Punjab National Bank (PNB). The company offers housing loans to individuals and corporate bodies for the purchase, repair, construction, and upgradation of houses. PNB Housing also offers loans against property, loans for commercial space and loans for the purchase of residential plots.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.