PNB Housing Finance achieves upgraded CRISIL ratings

CRISIL Ratings Limited has assigned a 'Crisil AA+/Stable' rating to PNB Housing Finance Limited's ₹3,410 crore non-convertible debenture and enhanced the rated amount on total bank loan facilities from ₹4,000 crore to ₹9,000 crore. The ratings agency also reaffirmed its 'Crisil AA+/Stable/Crisil A1+' ratings on existing debt instruments and bank facilities. This upgrade reflects the company's strong capitalization metrics and established market position in the housing finance sector, alongside a comfortable earnings profile.

PNB Housing's capitalization metrics remain robust, with net worth increasing to ₹17,498 crore as of June 30, 2025, from ₹16,863 crore on March 31, 2025. The company's asset under management (AUM) reached ₹82,100 crore as of June 30, 2025, reinforcing its position as one of India's largest housing finance companies. The improved asset quality, with gross stage III assets declining to 1.06% (₹825 crore) as of June 30, 2025, also contributed to the positive rating action.

The company continues to benefit from brand-sharing with its parent, Punjab National Bank (PNB), which held a 28.1% ownership stake as of June 30, 2025. This association aids in maintaining a diversified resource profile and competitive funding rates.