PNB Housing Finance Q2 FY27 Results: Consolidated Net Profit ₹617 Crore on Total Income of ₹2,424 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Total income rose 13.8% YoY to ₹2,423.95 crore and net profit rose 6.0% to ₹616.55 crore, so net profit grew more slowly than income over the year. Revenue from operations was ₹2,423.15 crore, up 13.9%, while other income fell to ₹0.80 crore from ₹2.74 crore a year earlier.

Finance costs rose 11.7% YoY to ₹1,414.66 crore and are equal to 58.4% of total income this quarter. Profit before tax was ₹796.61 crore, and tax expense of ₹180.06 crore is 22.6% of it, against 23.4% a year earlier.

Against the quarter before, net profit rose 10.6% from ₹557.34 crore and total income rose 7.0% from ₹2,265.36 crore. The statement shows impairment on financial instruments and write-offs of ₹47.56 crore in brackets for the quarter, against ₹113.18 crore in brackets a year earlier.

The joint statutory auditors issued limited review reports on the consolidated results. One subsidiary, PHFL Home Loans and Services Limited, was reviewed by another auditor and reported total revenues of ₹74.41 crore for the quarter, before consolidation adjustments.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Total income rose 13.3% YoY to ₹2,460.94 crore and net profit rose 5.6% to ₹661.44 crore. Against the quarter before, net profit rose 19.3% while total income rose 9.1%.

Finance costs rose 11.6% YoY to ₹1,414.98 crore and are equal to 57.5% of total income this quarter. Tax expense of ₹179.27 crore is 21.3% of profit before tax of ₹840.71 crore, against 22.1% a year earlier.

Dividend income of ₹50.00 crore appears in the standalone statement for the quarter. The filing says it was received from the wholly owned subsidiary PHFL Home Loans and Services Limited.

Inference

The company issued two listed, secured, rated, taxable, redeemable NCDs by private placement: ₹5,00,09,49,000 including premium on 9 Jul 2026, and ₹500 crore on 17 Sep 2026. The filing reports no deviation in the use of these funds.

Security cover on secured NCDs was 1.08 times as at 30 Sep 2026, and the joint statutory auditors issued a limited assurance certificate on it. The CFO certified that commercial paper proceeds were used for the purposes disclosed.

The company restructured employee compensation from 1 Apr 2026 in line with the Labour Codes and says it will account for their effect as rules are finalised, so the size of that effect on employee costs and the reasons for the year-on-year rise in finance costs remain open for a reader.

Reference: Original filing (PDF)