PNB Housing Finance FY26 profit jumps 18%, dividend ₹8

Key highlights from the FY26 filing

PNB Housing Finance has reported a stronger set of numbers for the quarter and year ended March 31, 2026, led by higher profitability and steady asset quality. Consolidated profit after tax (PAT) for FY26 came in at ₹2,291.24 crore, up 18.34% from ₹1,936.14 crore in FY25. For Q4 FY26, consolidated PAT stood at ₹655.80 crore, rising 19.15% year-on-year from ₹550.38 crore. Consolidated revenue for the year was reported at ₹8,505.04 crore, a 10.58% increase over ₹7,691.63 crore. The company also maintained low reported delinquencies, with gross NPA at 0.93% and net NPA at 0.57% as of March 31, 2026. Alongside the financial results, the board recommended a final dividend of ₹8 per equity share, subject to shareholder approval.

What the company reported for Q4 FY26

The March quarter numbers showed improvement in both headline profitability and core income. Consolidated PAT rose to ₹655.80 crore in Q4 FY26 from ₹550.38 crore a year earlier. Net interest income (NII) for Q4 FY26 was reported at ₹813 crore, compared with ₹734 crore in Q4 FY25, a 10.8% year-on-year increase. The net interest margin (NIM) for the quarter improved by 6 basis points to 3.69% versus the previous quarter. Disbursements in Q4 FY26 were reported at ₹9,355 crore, up 36.5% year-on-year. The filing and accompanying exchange updates position these results as being supported by operational efficiency initiatives and a focus on technology. Management commentary from Ajai Shukla, Managing Director and CEO, also highlighted “resilient and balanced growth” and the strategic restart of corporate lending.

Full-year FY26 performance: profit and revenue growth

For the full fiscal year, consolidated PAT increased to ₹2,291.24 crore from ₹1,936.14 crore in FY25. On the revenue line, consolidated revenue was stated at ₹8,505.04 crore for FY26, up from ₹7,691.63 crore in the prior year. A separate summary in the provided text also cites total revenue at ₹8,504.52 crore for the year ended March 31, 2026. Both figures reflect revenue above ₹8,500 crore for FY26 as per the material provided. Full-year disbursements were reported at ₹26,548 crore, representing a 20.8% increase over the previous year. The company’s reported performance was presented as being driven by a mix of growth and efficiency gains, while the “Reader Takeaway” flags that higher borrowings may add pressure.

Loan book growth and portfolio metrics

PNB Housing Finance reported growth in its loan assets and portfolio during FY26. Loan assets were reported at ₹87,347 crore as of March 31, 2026, compared with ₹75,765 crore a year earlier, indicating 15.3% growth. Another portfolio figure in the material shows the loan portfolio at ₹86,433.37 crore as of March 31, 2026, up from ₹74,645.32 crore in the previous year. In addition, the retail loan book was reported to have grown 16% year-on-year to ₹81,931 crore as of December 31, 2025. These disclosures collectively point to continued expansion, with multiple portfolio cuts and reporting bases included in the exchange-linked information.

Asset quality stays low-NPA as of March 31, 2026

The company’s stated asset quality indicators remained stable at relatively low levels as of March 31, 2026. Consolidated gross NPA (GNPA) stood at 0.93% and consolidated net NPA (NNPA) was 0.57%. For the third quarter, the text cites standalone GNPA at 1.04% and NNPA at 0.68%, described as flat on a year-on-year basis. The FY26 year-end numbers therefore show lower NPA ratios on the consolidated basis compared with those Q3 standalone metrics. The broader takeaway is that the reported profitability increase in FY26 came alongside controlled credit stress, based on the provided ratios.

Borrowings rose sharply, and the company tapped debt markets

One of the notable balance sheet changes highlighted in the material is the rise in consolidated borrowings. Consolidated borrowings increased to ₹52,813.55 crore from ₹44,128.47 crore in the previous year. Separately, the company also raised ₹300 crore on March 30, 2026 via allotment of 30,000 listed, secured, rated, taxable, redeemable non-convertible debentures (NCDs) through private placement. The NCDs were described as having a 7.10% initial coupon with a floating-rate structure linked to the 3-month T-Bill benchmark plus 187 bps, a three-year tenure, and maturity on March 30, 2029, with quarterly interest payments. The management committee, authorised by the board, approved the allotment, with a face value of ₹1,00,000 per debenture.

Capital adequacy and leverage snapshot

PNB Housing Finance reported a capital risk adequacy ratio (CRAR) of 27.26% as of March 31, 2026, with Tier I capital at 26.89%. The debt-equity ratio was stated at 3.70 in the provided text, indicating the leverage profile disclosed alongside the annual results. These regulatory capital numbers are relevant in the context of the company’s borrowing increase over the year. They also frame the company’s capacity to support growth within prudential limits, based on the reported ratios.

Dividend recommendation and audit opinion

The board recommended a final dividend of ₹8 per equity share for FY26, subject to shareholder approval. The material also notes that the previous year’s dividend was ₹5 per share, indicating an increase in the recommended payout year-on-year. On reporting quality, the joint statutory auditors issued an unmodified opinion on the annual financial results, which is typically described as a clean audit opinion. The company also referenced compliance-related disclosures such as security cover and utilisation of funds raised through instruments, as per the text provided.

Board meeting, trading window closure, and compliance context

Exchange communication in the material states that the company had informed BSE that a board meeting was scheduled for April 20, 2026 to consider and approve audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026. In connection with the upcoming results, the trading window for designated persons and their immediate relatives was closed effective April 1, 2026, and was to remain closed until 48 hours after the declaration of results. The text also references that past regulatory settlements were resolved, but had previously placed compliance and disclosure processes under scrutiny, underlining the need for continuous vigilance. This context is presented alongside the FY26 results and governance disclosures.

Stock and market context mentioned in the material

The provided text notes that the stock rose 3% to close at ₹779.90 on BSE on the day referenced. It also cites a 52-week high of ₹1,141.85 (June 2025) and a 52-week low of ₹730 (March 2026). These levels provide a snapshot of recent volatility around the stock, although the material does not attribute the move to a single factor beyond the earnings-related flow of information.

Key numbers at a glance

Timeline of key disclosures and events

Why the FY26 result matters for investors

The FY26 performance shows a combination of higher profit growth and controlled reported credit stress, with consolidated GNPA at 0.93% and NNPA at 0.57% as of March 31, 2026. At the same time, the material highlights a meaningful increase in consolidated borrowings to ₹52,813.55 crore, which is relevant for cost of funds and balance sheet management. The increase in disbursements to ₹26,548 crore for the year, along with loan assets of ₹87,347 crore as of year-end, provides context on how growth is being pursued. The recommended ₹8 final dividend also signals a shareholder payout decision that investors will track, subject to approval. The clean audit opinion is an additional governance datapoint included in the disclosure set.

What to watch next

Shareholders will watch for the dividend approval process and any further disclosures around funding strategy following the rise in borrowings. The company has also referenced technology-led efficiency and the restart of corporate lending, both of which are areas where subsequent quarterly disclosures could add clarity. Separately, the continued trading window protocols and the mention of past regulatory settlements place attention on ongoing disclosure discipline. Any future exchange filings related to capital raising, loan mix, or portfolio quality will be key reference points alongside the reported FY26 baseline numbers.