PNB Housing Finance Share Price Dips 7%; Profit Up 7.7% YoY in Q3 FY26 Results

PNB Housing Finance Limited reported a resilient performance for the quarter ended December 31, 2025, despite some sequential moderation. 

Net profit for Q3 FY26 stood at ₹520 crore, registering a growth of 7.7% year-on-year, though it declined by 10.5% quarter-on-quarter. Pre-provision operating profit increased by 8.4% YoY to ₹628 crore, reflecting stable operating fundamentals, while it declined 2.9% QoQ. 

Excluding the impact of the new labour code provision, pre-provision operating profit rose by 9.4% YoY and 1.9% QoQ to ₹634 crore. Net interest income grew by a healthy 10.9% YoY and 0.9% QoQ to ₹772 crore, supported by a growing retail loan book.

Loan Growth and Disbursement Trends

The company’s retail loan assets grew robustly by 16% YoY to ₹81,931 crore as of December 31, 2025, accounting for 99.7% of total loan assets. The Affordable and Emerging Markets segment continued to be a key growth driver, expanding by 31% YoY and contributing 39% to the retail loan portfolio. 

Total disbursements during Q3 FY26 rose by 16% YoY and 4% QoQ to ₹6,217 crore. Disbursements in the Affordable and Emerging Markets segment stood at ₹2,935 crore, growing 11% YoY and contributing nearly half of total retail disbursements.

Asset Quality and Operational Highlights

Asset quality showed improvement, with gross NPA declining to 1.04% as of December 31, 2025, compared to 1.19% a year earlier. The company recovered ₹49 crore from the written-off pool during the quarter, further strengthening balance sheet quality. 

The estimated impact of the new labour code, amounting to ₹6 crore, was accounted for under employee benefit expenses.

Nine-Month Performance (9M FY26)

For the nine months ended December 31, 2025, net profit rose sharply by 18% YoY to ₹1,635 crore. Pre-provision operating profit increased by 13.4% YoY to ₹1,906 crore, driven by positive operating leverage. Net interest income grew 13.9% YoY to ₹2,296 crore, reflecting sustained business momentum.

Capital Position and Returns

The company maintained a strong capital position, with a capital risk adequacy ratio of 29.46% and Tier I capital at 28.92%. Return on assets stood at 2.40% for Q3 FY26 on an annualised basis and 2.57% for 9M FY26, indicating healthy profitability.

Commenting on the performance Mr. Ajai Shukla, Managing Director & CEO said, "As we move forward, our focus remains unwavering on strengthening our retail book with a sharper emphasis on the Affordable and Emerging Markets segment. We are committed to enhancing asset quality and sustaining profitability while ensuring responsible lending practices. Customer delight continues to be a key priority, and we are investing in solutions that simplify journeys, improve turnaround times, and deliver greater transparency for our customers.” 

He further added, “Through operational excellence and the strategic use of technology, we aim to build a more agile, resilient, and future-ready organization. PNB Housing Finance will continue to enable homeownership across India and remain dedicated to creating long-term value for all our stakeholders."

PNB Housing Finance Share Price Performance

On January 22, 2026, PNB Housing Finance share price (NSE: PNBHOUSING) opened at ₹925.00, down from its previous close of ₹930.55. At 10:38 AM, the share price of PNB Housing Finance was trading at ₹860.75, down by 7.41% on the NSE.

Also Read: Best Long-Term Stocks in Jan 2026 – 5yr CAGR Basis!

Conclusion

PNB Housing Finance delivered a stable performance in Q3 and 9M FY26, supported by strong retail loan growth, improving asset quality, and robust capital adequacy. While short-term profitability faced sequential pressure, the company’s focus on affordable housing and emerging markets positions it well for sustainable long-term growth.

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