PNB Housing Finance has disclosed a gross non-performing assets (NPA) figure of ₹3,204.94 crore for the financial year ending March 31, 2023. This figure includes an additional ₹933.58 crore identified due to inspection observations by the National Housing Bank (NHB).
The NHB’s advisory, received by the company on April 1, 2026, requires PNB Housing Finance to disclose this divergence in asset classification and provisioning in its balance sheet notes for the fiscal year 2025-26. The divergence pertains to two corporate or project finance loan accounts, where the company had reduced interest rates as a commercial decision due to competitive pressures.
These two loan accounts were previously resolved and restructured in FY2021-22, classified as standard per regulatory guidelines, and were not in default at the time of interest rate reduction in FY2022-23. Of these, one loan amounting to ₹598.39 crore has been closed. The outstanding balance of the other loan has decreased from ₹335.19 crore to ₹67.39 crore, with the account remaining regular post-interest rate reduction.
PNB Housing Finance stated that there is currently no financial impact on the company from this divergence, and the threshold for disclosure under regulation 30 of SEBI (LODR) Regulation, 2015, is not applicable. However, the company is making this disclosure as a good governance practice and will include the necessary details in its FY2025-26 balance sheet as advised by the NHB.
The disclosure is available on the company’s website, www.pnbhousing.com.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).