Models
PNB HOUSING FIN LTD.PNBHOUSINGFinance
₹449per share · Base Model Note
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₹449implied P/B 0.61× on FY26 book
Against CMP ₹1,118.50−59.8%close of 28 Oct 2026
Cost of equity15.09%risk-free + beta × equity risk premium
Book equity, FY26₹738per share · excess returns add ₹(288)
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 15.09% | (2,901) | (3,227) | (3,589) | (3,991) | (4,439) |
| Excess return | (614) | (683) | (760) | (845) | (940) |
| Present value | (572) | (553) | (534) | (516) | (499) |
| 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 | (2,675) |
| PV of the terminal excess return, 5% flat | (4,839) |
| add non-operating investments | 0 |
| Equity value | 11,705 |
| ÷ 26.06 crore shares | ₹449 |
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₹1,225
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 11.9% | — | 15.09% | 5% | ₹449 | (59.8)% |
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.