NSE: PNBHOUSING | BSE: 540173 | INDUSTRY : HOUSING FINANCE | SECTOR : BANKING AND FINANCE

PNB Housing Finance Ltd.

Turnaround Potential

356.65 -12.50 (-3.39%)

40.08% Fall from 52W High

Volume: 297.1K

NSEOct 22, 2020 03:31 PM

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Durability score
50/100
Medium Financial Strength
Valuation score
57.7/100
Affordable Valuation
Momentum score
62.8/100
Technically Moderately Bullish
7S
9W
10O
1T


PNB Housing Finance Ltd.    
24 Jul 2020
356.65
-3.39%
buy
by Nirmal Bang Institutional
Target: 212 | Target met
Nirmal Bang Institutional
Remain wary of NPA risks amid challenging macros PNB Housing Finance (PNBHF) reported NII/PPOP at Rs 4,362mn/Rs4,094mn, 12%/7% better than our estimates. PAT at Rs 2,596mn was better than estimate primarily on account of lower provisioning. AUM declined by 5% YoY and was flat QoQ at Rs835bn. Disbursements were nil in April but picked up in May and further improved in June. Total disbursements for the quarter were Rs6.9bn. Collection efficiency (ex-morat loans) also witnessed improvement and stood at 98.2% (2 days ago) compared to ~96% in April. Sell down process was delayed due to covid led disruptions. The management has guided towards bringing down absolute opex by 5-10% in...
PNB Housing Finance Ltd. has gained 78.24% in the last 3 Months
PNB Housing Finance Ltd.    
23 Jul 2020, 12:00AM
356.65
-3.39%
buy
by Motilal Oswal
Target: 210 | Target met
Motilal Oswal
23 July 2020 PNBHOUSI reported 1QFY21 PAT of INR2.6b (v/s est. The beat was driven by stronger PPoP and significantly lower credit cost. AUM remained sequentially stable at INR835b. Given the high leverage, we expect the company to continue to run down its balance sheet until it raises fresh equity capital. Maintain Neutral, with TP of INR210. As disbursements were negligible, AUM remained sequentially unchanged at INR835b. The company did not sell down any loans in the quarter; hence, upfront assignment income was nil v/s INR1.2b YoY. Cost of funds is likely to further decline due to recent MCLR cuts by banks. The GS3 ratio remained stable QoQ at 2.76%. While the company kept Stage 1 and 2 ECL provisions stable, it increased Stage 3 PCR from 36% to 40% QoQ. Collection efficiency stood at 9697% during the quarter and was largely stable each month.
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
PNB Housing Finance Ltd.    
16 Jun 2020
356.65
-3.39%
buy
by Nirmal Bang Institutional
Target: 204 | Target met
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported NII/PPOP 11%/6% below our estimate, respectively. NIM, at 2.61%, contracted by 57bps YoY and 37bps QoQ. Given the company's performance over the last few quarters amid rapidly deteriorating asset quality, we were already anticipating a weak quarter. However, the reported numbers have been weaker than our expectations. AUM declined by 3.4% QoQ to Rs833.5bn while on-book loan assets were down 10% YoY and 4% QoQ. In light of capital constraints and building up of asset quality pressures, PNBHF has been resorting to sell-downs. During FY20, the company sold down Rs23.1bn worth of corporate loan assets, which has helped shore up capital ratios without a meaningful profit accretion to the...
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PNB Housing Finance Ltd. is trading above all available SMAs
PNB Housing Finance Ltd.    
15 Jun 2020
356.65
-3.39%
buy
by Motilal Oswal
Target: 190 | Upside : -46.7%
Motilal Oswal
15 June 2020 PNBHOUSI reported INR2.4b net loss (v/s est. of INR2.4b PAT) in 4QFY20, driven by higher-than-expected provisions. The company reported provisions of INR7.5b (v/s est. of INR1.4b), including COVID-19-related provisions of INR4.7b. Given the high leverage, we expect the company to continue to run down its balance sheet. We increase our FY21 credit cost estimates by 70bp. Maintain Neutral, with TP of INR190. Given the lockdown in the last week of the quarter, disbursements were muted at INR28b. Interestingly, the retail home loan book declined 5% QoQ. On the other hand, the retail GNPL ratio doubled YoY to 1.
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
PNB Housing Finance Ltd.    
06 Feb 2020
356.65
-3.39%
buy
by Edelweiss
Target: 562 | Upside : 57.6%
Edelweiss
PNB Housing Finance (PNBHF) reported a weak set of numbers in Q3FY20 as asset quality deteriorated on the back of slippages from the developer financing segment.
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
PNB Housing Finance Ltd.    
24 Jan 2020
356.65
-3.39%
buy
by Nirmal Bang Institutional
Target: 624 | Upside : 75.0%
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported 3QFY20 results with the key pointers being: (1) Asset quality deteriorated with Stage 3 assets ratio at 1.75% (+128bps YoY, +91bps QoQ) (2) Capital raise expected in Q4FY20; Clarity regarding PNB's status and shareholding (3) Loan book declined 7% YoY and 2% QoQ at Rs692bn; AUM was up 8% YoY, down 4% QoQ (4) NIM declined 8bps YoY, 21bps owing to 3 bps decline in yield and flat cost of borrowing (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key P&L; items, PNBHF posted 3% YoY NII growth at Rs5,721mn, PPOP growth of 6% YoY at Rs4,777mn and PAT decline of 12% YoY at Rs3,421mn. We have revised our estimates for FY20/FY21/FY22...
PNB Housing Finance Ltd. has gained 71.67% in the last 6 Months
PNB Housing Finance Ltd.    
25 Oct 2019
356.65
-3.39%
buy
by Edelweiss
Target: 735 | Upside : 106.1%
Edelweiss
PNB Housing Finance (PNBHF) reported stellar set of numbers in terms of operating performance and AUM growth given multiple sectoral headwinds.
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PNB Housing Finance Ltd. has gained 78.24% in the last 3 Months
PNB Housing Finance Ltd.    
25 Oct 2019
356.65
-3.39%
buy
by Nirmal Bang
Target: 576 | Target met
Nirmal Bang
PNB Housing Finance (PNBHF) reported 2QFY20 results with the key pointers being: (1) Spread expanded 39 bps YoY to 2.62%; outlook for spreads remains positive (2) Disbursement de-growth was sharper than expected; capital raise pushed back (3) Asset quality was stable with Stage 3 assets ratio at 84%, down 1 bp QoQ and (4) Opex to ATA declined 5 bps YoY to 57 bps, which is also broadly along expected lines (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key P&L; items, PNBHF posted 36% YoY NII growth at Rs6,268mn, PPOP growth of 47% YoY at Rs5,444mn and PAT growth of 64% YoY at Rs3,421mn. We have revised our estimates for FY20/FY21/FY22 and retained Buy rating on PNBHF, revising...
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
PNB Housing Finance Ltd.    
01 Aug 2019
356.65
-3.39%
buy
by Arihant Capital
Target: 770
Arihant Capital
PNB Housing Finance (PNBHFL) reported muted performance during Q1FY20. Profit for the quarter grew by 11% YoY to Rs 284 cr, impacted due to lower disbursements and higher credit cost. NII for the quarter grew by 45% YoY/2.6% QOQ to Rs 625 cr while margins compressed by 4bps QoQ. Disbursements during the quarter declined by 22% YoY to Rs 7634 cr, primarily due to company's cautious approach towards wholesale loan book which resulted into corporate disbursement de-growth of 81% YoY. PNB housing finance maintained excess liquidity of Rs 5000 cr in form of cash and liquid investments...
PNB Housing Finance .. has an average target of 390.00 from 4 brokers.
PNB Housing Finance Ltd.    
31 Jul 2019
356.65
-3.39%
buy
by Edelweiss
Target: 1240
Edelweiss
PNB housing Finance (PNBHF) reported strong core operating performance aided by healthy growth in AUM and marginal improvement in net interest margin (NIM).
PNB Housing Finance Ltd. has gained 78.24% in the last 3 Months