PNB Housing Finance Limited has informed the Exchange about Credit Rating
PNBHOUSING · price
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CARE Ratings upgraded PNB Housing Finance's long-term rating from CARE AA+ (Stable) to CARE AAA (Stable), citing strong promoter support from Punjab National Bank (PNB), which holds 27.75% and has committed need-based unconditional support. The company is India's third-largest HFC with AUM of ₹90,921 crore as of March 2026, up ~13% YoY. Asset quality has sharply improved, with GNPA falling from 8.1% in FY22 to 0.93% in FY26, while net profit rose to ₹2,291 crore with RoTA of 2.6%. The short-term rating on Commercial Paper and bank facilities was reaffirmed at CARE A1+. One Tier II bond (ISIN INE572E09320) was withdrawn as it was fully repaid. Outlook remains Stable.
The upgrade to CARE AAA signals significantly lower credit risk and may reduce borrowing costs for PNB Housing Finance. It reinforces the company's strong linkages with public sector bank PNB and could attract more institutional investors. The stock is likely to be viewed positively given the upgrade from AA+ to the highest tier.