{"id":74679,"date":"2026-04-21T12:30:23","date_gmt":"2026-04-21T07:00:23","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=74679"},"modified":"2026-04-21T12:30:24","modified_gmt":"2026-04-21T07:00:24","slug":"pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/","title":{"rendered":"PNB Housing Finance Q4 FY26 Results: Consolidated PAT Rises 19% to \u20b9656 Crore \u2014 Retail Disbursements Surge 32% YoY to \u20b99,020 Crore, Dividend \u20b98\/Share"},"content":{"rendered":"<p>PNB Housing Finance delivered a strong Q4 FY26 earnings beat on April 20, 2026. Consolidated net profit rose 19.2% YoY to \u20b9655.8 crore from \u20b9550.4 crore in Q4 FY25, and jumped 26% sequentially from \u20b9520.4 crore in Q3 FY26. The beat versus analyst estimates was driven primarily by favourable provision write-backs of approximately \u20b9180 crore \u2014 versus MOFSL&#8217;s estimate of only \u20b949 crore. Revenue from operations was \u20b92,181.5 crore, with total income rising to \u20b92,171.9 crore.<\/p><p>For the full year FY26, PNB Housing Finance reported consolidated PAT of \u20b92,291.2 crore \u2014 up 18.3% from \u20b91,936.1 crore in FY25. Total income for the year reached \u20b98,505 crore. Retail disbursements in Q4 FY26 surged 32.3% YoY to \u20b99,020 crore, reflecting strong demand for home loans. The total loan book grew approximately 15% YoY and 6% QoQ to \u20b987,300 crore, with retail loans comprising \u20b986,900 crore. The affordable and emerging market segment contributed approximately 47% to retail disbursements. The board recommended a final dividend of \u20b98 per equity share for FY26.<\/p><p>Track PNB Housing Finance on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#PNB_Housing_Finance_Q4_FY26_Financial_Results\" title=\"PNB Housing Finance Q4 FY26 Financial Results\">PNB Housing Finance Q4 FY26 Financial Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#Provision_Write-back_The_Key_Earnings_Driver\" title=\"Provision Write-back: The Key Earnings Driver\">Provision Write-back: The Key Earnings Driver<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#NHB_Divergence_Monitoring_Required\" title=\"NHB Divergence: Monitoring Required\">NHB Divergence: Monitoring Required<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#1_What_was_PNB_Housing_Finance_Q4_FY26_PAT\" title=\"1. What was PNB Housing Finance Q4 FY26 PAT?\">1. What was PNB Housing Finance Q4 FY26 PAT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#2_What_is_PNB_Housing_Finance_FY26_full-year_PAT\" title=\"2. What is PNB Housing Finance FY26 full-year PAT?\">2. What is PNB Housing Finance FY26 full-year PAT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#3_What_dividend_did_PNB_Housing_Finance_declare\" title=\"3. What dividend did PNB Housing Finance declare?\">3. What dividend did PNB Housing Finance declare?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#4_What_is_PNB_Housing_Finance_loan_book_size\" title=\"4. What is PNB Housing Finance loan book size?\">4. What is PNB Housing Finance loan book size?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#5_What_drove_the_Q4_earnings_beat\" title=\"5. What drove the Q4 earnings beat?\">5. What drove the Q4 earnings beat?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#6_What_is_the_NHB_divergence_for_PNB_Housing_Finance\" title=\"6. What is the NHB divergence for PNB Housing Finance?\">6. What is the NHB divergence for PNB Housing Finance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#7_When_do_TCS_announce_Q4_results\" title=\"7. When do TCS announce Q4 results?\">7. When do TCS announce Q4 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#8_Is_PNB_Housing_Finance_a_good_investment\" title=\"8. Is PNB Housing Finance a good investment?\">8. Is PNB Housing Finance a good investment?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/pnb-housing-finance-q4-fy26-results-pat-656-crore-disbursements-9020-crore\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PNB_Housing_Finance_Q4_FY26_Financial_Results\"><\/span><strong>PNB Housing Finance Q4 FY26 Financial Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Q3 FY26<\/strong><\/td><td><strong>Q4 FY25 (Base)<\/strong><\/td><td><strong>Q4 FY26 (Actual)<\/strong><\/td><\/tr><tr><td>Net Profit (PAT)<\/td><td>\u20b9520.4 Cr<\/td><td>\u20b9550.4 Cr<\/td><td>\u20b9655.8 Cr (+19.2% YoY)<\/td><\/tr><tr><td>Total Income<\/td><td>\u20b92,120.7 Cr<\/td><td>\u20b92,036.8 Cr<\/td><td>\u20b92,171.9 Cr (+6.6% YoY)<\/td><\/tr><tr><td>Revenue from Ops<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b92,181.5 Cr<\/td><\/tr><tr><td>Interest Income<\/td><td>\u20b92,019.4 Cr<\/td><td>\u20b91,905.9 Cr<\/td><td>\u20b92,054.0 Cr (+7.8% YoY)<\/td><\/tr><tr><td>Total Expenses<\/td><td>\u20b91,452.2 Cr<\/td><td>\u2014<\/td><td>\u20b91,317.3 Cr (\u21939.3% QoQ)<\/td><\/tr><tr><td>Finance Costs<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b91,246.1 Cr<\/td><\/tr><tr><td>Retail Disbursements<\/td><td>\u2014<\/td><td>\u20b96,820 Cr<\/td><td>\u20b99,020 Cr (+32.3% YoY)<\/td><\/tr><tr><td>FY26 PAT<\/td><td>\u2014<\/td><td>FY25: \u20b91,936 Cr<\/td><td>\u20b92,291 Cr (+18.3% YoY)<\/td><\/tr><\/tbody><\/table><\/figure><p>Source: PNB Housing Finance consolidated Q4 FY26 audited results, BSE\/NSE filing April 20, 2026; FreePressJournal; MOFSL research note.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provision_Write-back_The_Key_Earnings_Driver\"><\/span><strong>Provision Write-back: The Key Earnings Driver<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The Q4 FY26 PAT significantly beat analyst estimates due to net provision write-backs of approximately \u20b9180 crore \u2014 sharply higher than MOFSL&#8217;s estimate of \u20b949 crore. Pre-provision operating profit (PPOP) grew approximately 5% YoY to \u20b9680 crore (in line with estimates). The write-back suggests meaningful resolution of stressed assets in Q4 \u2014 a positive asset quality signal. Total expenses declined sharply to \u20b91,317.3 crore from \u20b91,452.2 crore in Q3 FY26 (-9.3% QoQ), primarily due to lower impairment charges.<\/p><p>The affordable housing segment delivered strong growth \u2014 the affordable book reached approximately \u20b98,150 crore, up 61% YoY. This premium mix is strategically important as the government continues to prioritise affordable housing under Pradhan Mantri Awas Yojana. However, disbursements in the affordable segment declined 3% YoY to about \u20b91,250 crore \u2014 a segment-level caution flag worth monitoring. Repayments remained elevated at an annualised rate of approximately 20.5%, up from 17% \u2014 indicating that customers are prepaying loans at a faster rate.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NHB_Divergence_Monitoring_Required\"><\/span><strong>NHB Divergence: Monitoring Required<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>In April 2026, PNB Housing Finance received a communication from the National Housing Bank (NHB) regarding asset classification and provisioning divergence for FY23. The divergence relates to two corporate\/project finance loan accounts where the company had reduced interest rates in FY23 as a commercial decision \u2014 a practice that NHB classified as restructuring under Para 8.3.2(b) of NBFC-HFC Directions. This regulatory disclosure is a transparency positive, but the NPA reclassification adds complexity to the company&#8217;s reported asset quality picture.<\/p><p>Screen PNB Housing Finance fundamentals on <a href=\"https:\/\/univest.in\/screeners\">Univest Screener<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>PNB Housing Finance&#8217;s Q4 FY26 results confirm a housing finance company executing a clean turnaround \u2014 18% FY26 PAT growth, 32% YoY surge in retail disbursements, and improving affordable housing mix. The provision write-back-driven beat is a positive quarter, though the underlying PPOP growth of 5% YoY is more modest. The NHB divergence is a watchpoint. MOFSL maintains a Buy rating and will revise estimates post the April 21 earnings call. The stock surged 11% on April 21 following the results, reflecting an earnings beat.<\/p><p>For more Q4 FY26 results, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_was_PNB_Housing_Finance_Q4_FY26_PAT\"><\/span><strong>1. What was PNB Housing Finance Q4 FY26 PAT?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b9655.8 crore consolidated \u2014 up 19.2% YoY from \u20b9550.4 crore in Q4 FY25 and up 26% QoQ from \u20b9520.4 crore in Q3 FY26.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_What_is_PNB_Housing_Finance_FY26_full-year_PAT\"><\/span><strong>2. What is PNB Housing Finance FY26 full-year PAT?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b92,291.2 crore consolidated \u2014 up 18.3% from \u20b91,936.1 crore in FY25.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_dividend_did_PNB_Housing_Finance_declare\"><\/span><strong>3. What dividend did PNB Housing Finance declare?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The board recommended a final dividend of \u20b98 per equity share for FY26, subject to shareholder approval at the AGM.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_is_PNB_Housing_Finance_loan_book_size\"><\/span><strong>4. What is PNB Housing Finance loan book size?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Total loan book approximately \u20b987,300 crore as of March 2026 \u2014 up 15% YoY and 6% QoQ, with retail loans at \u20b986,900 crore. The affordable book reached \u20b98,150 crore, up 61% YoY.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_What_drove_the_Q4_earnings_beat\"><\/span><strong>5. What drove the Q4 earnings beat?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Net provision write-backs of approximately \u20b9180 crore versus MOFSL estimates of \u20b949 crore were the primary beat driver. Retail disbursements also surged 32% YoY to \u20b99,020 crore.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_What_is_the_NHB_divergence_for_PNB_Housing_Finance\"><\/span><strong>6. What is the NHB divergence for PNB Housing Finance?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The NHB flagged an asset classification divergence for FY23 relating to two corporate\/project loans where PNB Housing had reduced interest rates. NHB classified this as restructuring, requiring additional NPA disclosure. The company has disclosed this regulatory communication to stock exchanges.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_When_do_TCS_announce_Q4_results\"><\/span><strong>7. When do TCS announce Q4 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">TCS declared Q4 FY26 results on April 9, 2026<\/a>. <\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Is_PNB_Housing_Finance_a_good_investment\"><\/span><strong>8. Is PNB Housing Finance a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>PNB Housing Finance is executing a strong housing cycle with 32% YoY disbursement growth and improving credit quality. At \u20b91,006 post 11% surge (April 21), the stock is fairly valued versus peers. Watch for NHB divergence resolution, NIM trends, and affordable segment disbursement recovery. Consult a SEBI-registered financial advisor before investing.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only. All financial data sourced from publicly available NSE\/BSE filings and news sources. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/vrl-logistics-q4-results-2026-2\">VRL Logistics Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vraj-iron-and-steel-q4-results-2026\">Vraj Iron and Steel Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltas-q4-results-2026\">Voltas Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltamp-transformers-q4-results-2026\">Voltamp Transformers Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vodafone-idea-q4-results-2026\">Vodafone Idea Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>PNB Housing Finance delivered a strong Q4 FY26 earnings beat on April 20, 2026. Consolidated net profit rose 19.2% YoY to \u20b9655.8 crore from \u20b9550.4 crore in Q4 FY25, and jumped 26% sequentially from \u20b9520.4 crore in Q3 FY26. The beat versus analyst estimates was driven primarily by favourable provision write-backs of approximately \u20b9180 crore<\/p>\n","protected":false},"author":23,"featured_media":74681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[4068],"class_list":["post-74679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-q4-fy26-financial-results"],"metadata":{"_edit_lock":["1776754846:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["842"],"rank_math_seo_score":["74"],"rank_math_robots":["a:2:{i:0;s:8:\"nofollow\";i:1;s:7:\"noindex\";}"],"rank_math_title":["PNB Housing Finance Q4 FY26 Results: PAT Jumps 19% YoY to \u20b9656 Crore, Retail Disbursements Up 32%, Dividend \u20b98\/Share"],"rank_math_description":["PNB Housing Finance Q4 FY26 results: PAT \u20b9655.8 Cr (+19% YoY, +26% QoQ), revenue \u20b92,182 Cr, retail disbursements +32%, loan book +15%. 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