April 1, 2024: Housing finance company PNB Housing Finance today said it has secured credit rating upgrades thrice in a row in a single quarter (Q4 FY24).
Prominent rating agencies like India Ratings, ICRA and CARE Ratings affirmed and upgraded the company’s ratings to ‘AA+’ from ‘AA’ with ‘Stable’ outlook.
“The rating rationale factors in PNB Housing Finance’s improved asset quality, strong market position, diversified resource profile and efficient capital management. Further, the agencies recognised the company’s sharpened focus on the granularisation of the retail loan book, along with the expansion of the affordable housing segment Roshni, for ensuring higher yields & interest margins, and improving profitability,” it said in a press note.
Girish Kousgi, MD & CEO, PNB Housing Finance, said, “This accomplishment reflects our holistic growth strategy of boosting our business performance, and delivering on important financial metrics. We are excited to step into the new financial year with renewed vigour and confidence of our key stakeholders, and our endeavour is to maintain this momentum to accomplish our long-term goals efficiently.”
| Instrument Type | Credit Rating |
| Bank Loans | CARE AA+ (Outlook – Stable)
India Ratings AA+ (Outlook – Stable) CRISIL AA (Outlook – Positive) |
| Non-convertible Debentures (NCDs) | CARE AA+ (Outlook – Stable)
ICRA AA+ (Outlook – Stable) India Ratings AA+ (Outlook – Stable) CRISIL AA (Outlook – Positive) |
| Commercial Paper | CARE A1+
CRISIL A1+ |
| Fixed Deposit | CARE AA+ (Outlook – Stable)
CRISIL AA (Outlook – Positive) |
PNB Housing Finance is a registered housing finance company with the National Housing Bank (NHB). It was incorporated under the Companies Act, 1956, and commenced its operations on November 11, 1988. PNB Housing is promoted by Punjab National Bank (PNB). The company came out with a public issue of equity shares in November 2016. Its equity shares are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) with effect from 7 November 2016. With over three decades of specialised experience in housing finance, PNB Housing has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly. PNB Housing provides housing loans to individuals and corporate bodies for purchase, construction, repair and upgradation of houses. It also provides loans for commercial space, loans against property and loans for purchase of residential plots.
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An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
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