Models
PNB HOUSING FIN LTD.PNBHOUSINGFinance
₹407per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹407implied P/B 0.55× on FY26 book
Against CMP ₹1,178.90−65.5%close of 2026-09-10
Cost of equity15.83%risk-free + beta × equity risk premium
Book equity, FY26₹738per share · excess returns add ₹(330)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 19,219 | 21,376 | 23,774 | 26,442 | 29,410 |
| Net income at 11.9% ROE | 2,287 | 2,544 | 2,829 | 3,147 | 3,500 |
| Cost of equity charge at 15.83% | (3,042) | (3,383) | (3,762) | (4,185) | (4,654) |
| Excess return | (754) | (839) | (933) | (1,038) | (1,155) |
| Present value | (701) | (673) | (646) | (621) | (596) |
| Closing book equity | 21,376 | 23,774 | 26,442 | 29,410 | 32,710 |
| Book equity today | 19,219 |
| PV of 5 years of excess return | (3,237) |
| PV of the terminal excess return, 5% flat | (5,372) |
| add non-operating investments | 0 |
| Equity value | 10,610 |
| ÷ 26.06 crore shares | ₹407 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹730₹1,212
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 11.9% | — | 15.83% | 5% | ₹407 | (65.5)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.