Shares of PNB Housing Finance declined 2.41% to ₹905.60 on the BSE on Tuesday, October 28, even as the company reported a robust 24% year-on-year (YoY) rise in consolidated net profit for Q2 FY26 to ₹582 crore, up from ₹470 crore in the same quarter last year.
The company’s total income rose 13% YoY to ₹2,131 crore, led by higher interest income at ₹2,017 crore, compared to ₹1,780 crore in the year-ago period. Retail loan assets grew 17% YoY to ₹79,439 crore, representing nearly 99.6% of the total loan book, with the affordable housing segment rising 34% YoY, now contributing 38% of total retail assets.
Despite these positive numbers, the stock came under pressure as investors expressed disappointment over the absence of a CEO announcement following the resignation of former MD & CEO Girish Kousgi earlier this year. The company had earlier appointed Jatul Anand as Executive Director and Valli Sekar as Chief Business Officer (Affordable Business), but a permanent CEO has not yet been named — raising concerns about leadership stability at the mortgage lender.
In terms of asset quality, Gross NPA improved to 1.04% as of September 30, 2025, compared to 1.24% last year, while Net NPA stood at 0.69%.
Executive Director Jatul Anand commented, “Despite leadership transitions, we delivered a strong and resilient performance. Looking ahead, our focus remains on accelerating retail growth and strengthening the affordable segment while maintaining industry-leading asset quality.”
However, the market reaction reflected investor caution over the management transition and lack of clarity on the CEO succession plan, which overshadowed the otherwise solid quarterly performance.
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