Loading...

PNB Housing Finance

BSE:540173
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
540173
BSE
₹147B
Market Cap
  1. Home
  2. IN
  3. Banks
Company description

PNB Housing Finance Limited operates as a housing finance company in India. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
540173 Share Price and Events
7 Day Returns
-3.2%
BSE:540173
4.1%
IN Mortgage
2.6%
IN Market
1 Year Returns
-24.5%
BSE:540173
0.4%
IN Mortgage
0.8%
IN Market
540173 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PNB Housing Finance (540173) -3.2% -5.3% -10.6% -24.5% - -
IN Mortgage 4.1% 6.6% -0.3% 0.4% 70.4% 147.3%
IN Market 2.6% 7.7% 2.5% 0.8% 45.6% 83.2%
1 Year Return vs Industry and Market
  • 540173 underperformed the Mortgage industry which returned 0.4% over the past year.
  • 540173 underperformed the Market in India which returned 0.8% over the past year.
Price Volatility
540173
Industry
5yr Volatility vs Market

540173 Value

 Is PNB Housing Finance undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PNB Housing Finance to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for PNB Housing Finance.

BSE:540173 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= ₹519.82 * 16.5%
₹85.73
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. ₹519.82
Discount Rate (Cost of Equity) See below 24.8%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:540173
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.881 (1 + (1- 35%) (348.38%))
2.258
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (2 * 8.6%)
24.75%

Discounted Cash Flow Calculation for BSE:540173 using Excess Returns Model Model

The calculations below outline how an intrinsic value for PNB Housing Finance is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BSE:540173 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.5% – 24.75%) * ₹519.82)
₹-42.93
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹-42.93 / (24.75% - 7.55%)
₹-249.58
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹519.82 + ₹-249.58
₹270.24
BSE:540173 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹270.24
Current discount Discount to share price of ₹848.30
= -1 x (₹848.30 - ₹270.24) / ₹270.24
-213.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of PNB Housing Finance is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PNB Housing Finance's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PNB Housing Finance's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:540173 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹62.91
BSE:540173 Share Price ** BSE (2019-03-18) in INR ₹848.3
India Mortgage Industry PE Ratio Median Figure of 12 Publicly-Listed Mortgage Companies 13.7x
India Market PE Ratio Median Figure of 2,728 Publicly-Listed Companies 16.62x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PNB Housing Finance.

BSE:540173 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540173 Share Price ÷ EPS (both in INR)

= 848.3 ÷ 62.91

13.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNB Housing Finance is good value based on earnings compared to the IN Mortgage industry average.
  • PNB Housing Finance is good value based on earnings compared to the India market.
Price based on expected Growth
Does PNB Housing Finance's expected growth come at a high price?
Raw Data
BSE:540173 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
23.9%per year
India Mortgage Industry PEG Ratio Median Figure of 5 Publicly-Listed Mortgage Companies 0.58x
India Market PEG Ratio Median Figure of 598 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

BSE:540173 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.48x ÷ 23.9%

0.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNB Housing Finance is good value based on expected growth next year.
Price based on value of assets
What value do investors place on PNB Housing Finance's assets?
Raw Data
BSE:540173 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹413.28
BSE:540173 Share Price * BSE (2019-03-18) in INR ₹848.3
India Mortgage Industry PB Ratio Median Figure of 14 Publicly-Listed Mortgage Companies 2.03x
India Market PB Ratio Median Figure of 3,613 Publicly-Listed Companies 1.12x
BSE:540173 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540173 Share Price ÷ Book Value per Share (both in INR)

= 848.3 ÷ 413.28

2.05x

* Primary Listing of PNB Housing Finance.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNB Housing Finance is overvalued based on assets compared to the IN Mortgage industry average.
X
Value checks
We assess PNB Housing Finance's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. PNB Housing Finance has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

540173 Future Performance

 How is PNB Housing Finance expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
23.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PNB Housing Finance expected to grow at an attractive rate?
  • PNB Housing Finance's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • PNB Housing Finance's earnings growth is expected to exceed the India market average.
  • PNB Housing Finance's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:540173 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:540173 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 23.9%
BSE:540173 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 22%
India Mortgage Industry Earnings Growth Rate Market Cap Weighted Average -3%
India Mortgage Industry Revenue Growth Rate Market Cap Weighted Average -20.9%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:540173 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:540173 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 37,844 17,245 8
2020-03-31 30,622 13,804 8
2019-03-31 24,669 10,889 6
BSE:540173 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 24,427 10,516
2018-09-30 22,520 9,781
2018-06-30 20,867 9,005
2018-03-31 19,735 -156,733 8,294
2017-12-31 17,484 7,626
2017-09-30 15,858 6,829
2017-06-30 14,643 6,126
2017-03-31 12,999 -124,065 5,237
2016-12-31 11,378 4,750
2016-09-30 10,495 4,275
2016-06-30 9,698 -111,773 3,672
2016-03-31 8,304 -96,645 3,265

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PNB Housing Finance's earnings are expected to grow significantly at over 20% yearly.
  • PNB Housing Finance's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:540173 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from PNB Housing Finance Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:540173 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 103.88 114.97 90.00 7.00
2020-03-31 80.57 86.20 69.80 8.00
2019-03-31 65.22 68.60 61.90 6.00
BSE:540173 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 62.91
2018-09-30 58.59
2018-06-30 54.01
2018-03-31 49.82
2017-12-31 45.81
2017-09-30 42.06
2017-06-30 40.18
2017-03-31 36.72
2016-12-31 35.78
2016-09-30 33.23
2016-06-30 28.93
2016-03-31 27.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PNB Housing Finance is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PNB Housing Finance's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PNB Housing Finance has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

540173 Past Performance

  How has PNB Housing Finance performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PNB Housing Finance's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PNB Housing Finance has delivered over 20% year on year earnings growth in the past 5 years.
  • PNB Housing Finance's 1-year earnings growth is less than its 5-year average (37.9% vs 41.8%)
  • PNB Housing Finance's earnings growth has exceeded the IN Mortgage industry average in the past year (37.9% vs 22%).
Earnings and Revenue History
PNB Housing Finance's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PNB Housing Finance Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:540173 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 24,427.30 10,515.90 4,113.10
2018-09-30 22,520.40 9,780.70 3,670.40
2018-06-30 20,867.10 9,004.50 3,189.80
2018-03-31 19,734.50 8,294.10 2,973.20
2017-12-31 17,484.00 7,626.00 2,258.10
2017-09-30 15,857.50 6,829.20 2,159.20
2017-06-30 14,643.30 6,125.80 2,094.20
2017-03-31 12,999.40 5,237.30 2,026.20
2016-12-31 11,378.28 4,749.86 1,707.69
2016-09-30 10,495.38 4,275.16 1,660.09
2016-06-30 9,697.99 3,671.94 1,821.58
2016-03-31 8,304.10 3,264.70 1,564.90
2015-12-31 6,954.24 2,789.60 1,354.56
2015-09-30 6,318.97 2,423.40 1,315.36
2015-06-30 5,343.87 2,112.10 1,280.16
2015-03-31 5,229.14 1,940.70 1,239.36
2014-12-31 4,344.44 1,783.63 809.28
2014-09-30 3,671.34 1,582.03 761.98
2014-06-30 3,316.24 1,404.38 671.43
2014-03-31 3,048.01 1,296.97 786.03
2013-12-31 639.68 1,132.96 494.57
2013-09-30 2,366.67 1,069.81 399.75
2013-06-30 2,150.62 992.46 374.60
2013-03-31 1,992.31 928.20 471.97
2012-03-31 1,441.01 774.46 293.86

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PNB Housing Finance has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PNB Housing Finance used its assets less efficiently than the IN Mortgage industry average last year based on Return on Assets.
  • Unable to establish if PNB Housing Finance improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess PNB Housing Finance's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PNB Housing Finance has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

540173 Health

 How is PNB Housing Finance's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of PNB Housing Finance's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PNB Housing Finance Company Filings, last reported 2 months ago.

BSE:540173 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 69,196.30 511,154.40 42,013.20
2018-09-30 69,196.30 511,154.40 42,013.20
2018-06-30 63,055.40 555,302.80 28,169.30
2018-03-31 63,055.40 555,302.80 28,169.30
2017-12-31 58,802.30 470,905.80 4,313.00
2017-09-30 58,802.30 470,905.80 4,313.00
2017-06-30 55,773.10 362,748.80 1,514.70
2017-03-31 55,773.10 362,748.80 1,514.70
2016-12-31 23,794.50 325,489.80 11,190.30
2016-09-30 23,794.50 325,489.80 11,190.30
2016-06-30 22,404.78 305,661.30 19,754.72
2016-03-31 21,459.00 267,196.80 2,485.40
2015-12-31
2015-09-30 20,148.00 214,276.50 6,968.00
2015-06-30 16,376.10 192,311.80 5,877.00
2015-03-31 15,787.27 167,944.88 2,931.42
2014-12-31 12,180.20 134,876.40 1,820.30
2014-09-30 12,180.20 134,876.40 1,820.30
2014-06-30 9,759.40 119,961.40 2,552.60
2014-03-31 9,341.38 102,886.32 1,384.22
2013-12-31
2013-09-30
2013-06-30 6,207.96 68,923.57 1,884.89
2013-03-31 6,180.36 68,269.36 1,280.39
2012-03-31 3,998.98 39,254.83 114.23
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Unable to establish if PNB Housing Finance has an acceptable proportion of non-loan assets without balance sheet data.
  • Unable to establish if PNB Housing Finance's liabilities are primarily made up of low risk funding sources without deposits or liabilities data.
  • PNB Housing Finance reports no customer deposits, loans are made up entirely of borrowed funds.
  • PNB Housing Finance's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if PNB Housing Finance has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if PNB Housing Finance has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess PNB Housing Finance's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PNB Housing Finance has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

540173 Dividends

 What is PNB Housing Finance's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.06%
Current annual income from PNB Housing Finance dividends. Estimated to be 1.52% next year.
If you bought ₹2,000 of PNB Housing Finance shares you are expected to receive ₹21 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PNB Housing Finance's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • PNB Housing Finance's dividend is below the markets top 25% of dividend payers in India (1.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:540173 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
India Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.3%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:540173 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 15.22 7.00
2020-03-31 12.62 7.00
2019-03-31 9.89 5.00
BSE:540173 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-07-03 9.000 0.905
2018-05-03 9.000 0.752
2017-07-11 6.000 0.437
2016-11-07 3.400 0.319

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, PNB Housing Finance has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but PNB Housing Finance only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of PNB Housing Finance's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.6x coverage).
X
Income/ dividend checks
We assess PNB Housing Finance's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PNB Housing Finance afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PNB Housing Finance has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

540173 Management

 What is the CEO of PNB Housing Finance's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sanjaya Gupta
COMPENSATION ₹21,606,510
AGE 54
TENURE AS CEO 8.8 years
CEO Bio

Mr. Sanjaya Gupta has been the Managing Director and an Executive Director of PNB Housing Finance Limited since June 25, 2010. Mr. Gupta is responsible for the day to day administration and operations of PNB Housing Finance Limited. He serves as Managing Director of Nexus Venture Partners. His professional career started with HDFC Ltd. in 1987 as a Management Trainee. He worked there for 16 years in various geographies at a variety of strategic and functional positions lastly assignment with HDFC was as the Head of Business Development & Distribution. He worked with ABN AMRO Bank NV as India Business Head of Retail Mortgages and later got elevated as the Mortgage Operations Head for North America and other geographies. He also worked with Indian Shelter Finance corp Limited. His last assignment before PNBHFL was with United Guarantee (AIG Inc.) as the Country Head for India, a joint venture of NHB, ABD and IFC Washington DC. Throughout his career spanning over 32 years, he has been contributing to the ontogenesis of mortgage industry and allied risk management products across India. He has a distinction of establishing international housing finance branch operations for HDFC Ltd., which is also the industry's first. He is often consulted by the policy makers on key changes in the sector. He serves as a Director of India Shelter Finance Corporation Ltd. He served as a Nominee Director of Satin Creditcare Network Limited since August 21, 2017 until October 15, 2018. He serves as ADB nominated Director on the Board of HDFC Plc, Maldives. He is also a Fellow of the Royal Institution of Chartered Surveyors. Mr. Gupta holds a Post Graduate Degree in Business Management.

CEO Compensation
  • Sanjaya's compensation has increased by more than 20% in the past year.
  • Sanjaya's remuneration is lower than average for companies of similar size in India.
Management Team

Sanjaya Gupta

TITLE
MD & Director
COMPENSATION
₹22M
AGE
54
TENURE
8.8 yrs

Kapish Jain

TITLE
Chief Financial Officer
COMPENSATION
₹11M
TENURE
1.1 yrs

Sanjay Jain

TITLE
Head of Compliance & Company Secretary
COMPENSATION
₹6M
AGE
53

Nitant Desai

TITLE
Chief Operations & Technology Officer
COMPENSATION
₹8M
AGE
55

Krishan Gopal

TITLE
Chief Manager F & A

Deepika Padhi

TITLE
Head of Investor Relations

Devesh Shukla

TITLE
Vice President of Law

Anshul Bhargava

TITLE
Chief People Officer
COMPENSATION
₹7M
AGE
51

D.K. Sonakya

TITLE
Senior Vice President of Information Technology

O. Madan

TITLE
Senior Vice President of GAD
Board of Directors Tenure

Average tenure and age of the PNB Housing Finance board of directors in years:

2.9
Average Tenure
59
Average Age
  • The average tenure for the PNB Housing Finance board of directors is less than 3 years, this suggests a new board.
Board of Directors

Sunil Mehta

TITLE
Chairman of the Board
COMPENSATION
₹300K
AGE
59
TENURE
1.8 yrs

Sanjaya Gupta

TITLE
MD & Director
COMPENSATION
₹22M
AGE
54
TENURE
8.8 yrs

Shital Jain

TITLE
Independent Director
COMPENSATION
₹3M
AGE
78
TENURE
4.6 yrs

Ramakrishnan Chandrasekaran

TITLE
Independent Director
COMPENSATION
₹2M
AGE
60
TENURE
3.4 yrs

Gourav Vallabh

TITLE
Independent Director
COMPENSATION
₹2M
AGE
41
TENURE
2.9 yrs

Shubhalakshmi Panse

TITLE
Independent Director
COMPENSATION
₹1M
AGE
64
TENURE
1.7 yrs

Sunil Kaul

TITLE
Non-Executive Director
AGE
58
TENURE
4 yrs

Nilesh Vikamsey

TITLE
Independent Director
COMPENSATION
₹2M
AGE
54
TENURE
2.9 yrs

Ashwani Gupta

TITLE
Non-Executive Independent Director
COMPENSATION
₹2M
AGE
64
TENURE
1.8 yrs

Lingam Prabhakar

TITLE
Non-Executive Director
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • PNB Housing Finance insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
11. Mar 19 Sell Ashish Sharma Individual 11. Jul 18 25. Jul 18 -4,500 ₹1,270.50 ₹-5,627,578
06. Mar 19 Sell Bhaskara Satyanarayan Individual 05. Mar 19 05. Mar 19 -2,000 ₹922.00 ₹-1,844,000
04. Mar 19 Sell Rajesh Banerjee Individual 26. Feb 19 27. Feb 19 -1,800 ₹925.00 ₹-1,642,702
18. Feb 19 Sell Bhaskara Satyanarayan Individual 04. Feb 19 04. Feb 19 -2,000 ₹919.00 ₹-1,838,000
12. Feb 19 Sell Vinod Reddy Individual 07. Feb 19 08. Feb 19 -8,063 ₹983.13 ₹-7,925,744
12. Feb 19 Sell Vimal Chawla Individual 07. Feb 19 07. Feb 19 -500 ₹981.02 ₹-490,510
12. Feb 19 Sell Ravi Arora Individual 07. Feb 19 07. Feb 19 -1,000 ₹980.00 ₹-980,000
31. Jan 19 Sell Ajay Gupta Individual 30. Jan 19 30. Jan 19 -2,000 ₹916.03 ₹-1,832,055
07. Jan 19 Sell Rajan Suri Individual 03. Jan 19 03. Jan 19 -1,000 ₹921.04 ₹-921,040
07. Dec 18 Sell Bhavnish Parashar Individual 27. Jul 18 21. Aug 18 -4,520 ₹1,389.33 ₹-6,225,443
03. Dec 18 Sell Jatul Anand Individual 25. Jun 18 27. Nov 18 -1,500 ₹1,268.44 ₹-1,346,199
22. Nov 18 Sell Nilay Bhargava Individual 23. Oct 18 14. Nov 18 -2,999 ₹999.00 ₹-2,714,312
19. Nov 18 Sell Anshul Bhargava Individual 15. Nov 18 15. Nov 18 -5,000 ₹1,000.00 ₹-5,000,000
19. Nov 18 Sell Ajay Gupta Individual 01. Oct 18 14. Nov 18 -1,827 ₹999.95 ₹-1,680,834
17. Nov 18 Sell Brajendra Pathak Individual 25. Oct 18 25. Oct 18 -1,630 ₹703.50 ₹-1,146,697
17. Nov 18 Sell Sushant Kumar Individual 30. Oct 18 02. Nov 18 -3,677 ₹845.00 ₹-3,027,458
14. Nov 18 Sell Prabhat Tiwari Individual 02. Nov 18 02. Nov 18 -2,000 ₹854.24 ₹-1,708,482
06. Nov 18 Sell Shaji Varghese Individual 30. Oct 18 30. Oct 18 -1,672 ₹729.98 ₹-1,220,532
16. Oct 18 Sell Pankaj Jain Individual 01. Oct 18 12. Oct 18 -16,000 ₹912.89 ₹-14,228,702
16. Oct 18 Sell Anang Saket Individual 04. Oct 18 04. Oct 18 -1,500 ₹850.00 ₹-1,275,000
16. Oct 18 Sell Deepak Bisnal Individual 29. Sep 18 29. Sep 18 -1,600 ₹885.56 ₹-1,416,891
05. Oct 18 Sell Vinod Reddy Individual 28. Sep 18 28. Sep 18 -8,750 ₹906.02 ₹-7,927,647
01. Oct 18 Sell Saurabh Bandi Individual 24. Sep 18 24. Sep 18 -11,385 ₹1,106.94 ₹-12,602,515
31. Aug 18 Sell Ravi Arora Individual 21. Aug 18 21. Aug 18 -500 ₹1,393.76 ₹-696,879
31. Aug 18 Sell Rajesh Banerjee Individual 21. Aug 18 27. Aug 18 -1,750 ₹1,406.48 ₹-2,448,945
31. Aug 18 Sell K Nathan Individual 27. Aug 18 27. Aug 18 -3,500 ₹1,402.68 ₹-4,909,380
31. Aug 18 Sell Sumant Chadha Individual 24. Aug 18 24. Aug 18 -202 ₹1,400.00 ₹-282,800
29. Aug 18 Sell Vimal Chawla Individual 27. Aug 18 27. Aug 18 -500 ₹1,404.03 ₹-702,015
29. Aug 18 Sell Ritu Marathe Individual 27. Aug 18 27. Aug 18 -370 ₹1,398.60 ₹-517,482
29. Aug 18 Sell Jasbir Singh Individual 27. Aug 18 27. Aug 18 -1,000 ₹1,400.00 ₹-1,400,000
27. Aug 18 Sell Kanika Chawla Individual 21. Aug 18 23. Aug 18 -1,200 ₹1,417.00 ₹-1,665,465
24. Aug 18 Sell K Nathan Individual 23. Aug 18 23. Aug 18 -853 ₹1,415.66 ₹-1,207,558
24. Aug 18 Sell K Nathan Individual 21. Aug 18 21. Aug 18 -300 ₹1,390.00 ₹-417,000
12. Jun 18 Sell Pankaj Jain Individual 07. Jun 18 07. Jun 18 -5,000 ₹1,150.00 ₹-5,750,000
12. Jun 18 Sell Pankaj Jain Individual 07. Jun 18 07. Jun 18 -5,000 ₹1,150.00 ₹-5,750,000
23. Aug 18 Sell Ritu Marathe Individual 20. Aug 18 20. Aug 18 -1,300 ₹1,364.94 ₹-1,774,423
22. Aug 18 Sell Rajan Suri Individual 30. Jun 18 20. Aug 18 -3,020 ₹1,367.64 ₹-3,802,707
22. Aug 18 Sell K Nathan Individual 25. Jun 18 20. Aug 18 -3,750 ₹1,381.30 ₹-5,025,997
23. Aug 18 Sell Ritu Marathe Individual 21. Aug 18 21. Aug 18 -800 ₹1,387.99 ₹-1,110,389
17. Aug 18 Sell Vimal Chawla Individual 17. Aug 18 17. Aug 18 -500 ₹1,333.38 ₹-666,690
28. Jul 18 Sell Jitendra Prasad Individual 26. Jul 18 26. Jul 18 -1,033 ₹1,300.00 ₹-1,342,900
24. Jul 18 Sell Vimal Chawla Individual 20. Jul 18 20. Jul 18 -500 ₹1,241.11 ₹-620,555
24. Jul 18 Sell Saurabh Bandi Individual 20. Jul 18 20. Jul 18 -400 ₹1,247.66 ₹-499,063
24. Jul 18 Sell Ajay Gupta Individual 20. Jul 18 20. Jul 18 -1,512 ₹1,255.99 ₹-1,899,052
17. Jul 18 Sell Arun Garg Individual 11. Jul 18 12. Jul 18 -300 ₹1,253.40 ₹-375,340
17. Jul 18 Sell Saurabh Bandi Individual 12. Jul 18 17. Jul 18 -750 ₹1,229.00 ₹-911,057
17. Jul 18 Sell Prasad Makuloor Individual 11. Jul 18 11. Jul 18 -1,902 ₹1,265.01 ₹-2,406,049
13. Jul 18 Sell Ashutosh Sharma Individual 11. Jul 18 11. Jul 18 -1,000 ₹1,260.58 ₹-1,260,580
13. Jul 18 Sell Jitendra Prasad Individual 11. Jul 18 11. Jul 18 -2,800 ₹1,266.65 ₹-3,546,620
13. Jul 18 Sell Sanjay Jain Individual 11. Jul 18 11. Jul 18 -5,421 ₹1,259.83 ₹-6,829,512
05. Jul 18 Sell Ritesh Saxena Individual 25. Jun 18 25. Jun 18 -3,485 ₹1,225.00 ₹-4,269,125
05. Jul 18 Sell Om Malik Individual 12. Jun 18 25. Jun 18 -3,000 ₹1,223.35 ₹-3,533,706
10. Jul 18 Sell Arun Garg Individual 15. May 18 06. Jul 18 -1,849 ₹1,299.45 ₹-2,293,938
06. Jul 18 Sell Gurmeet Singh Individual 07. May 18 06. Jul 18 -839 ₹1,408.68 ₹-1,036,083
04. Jul 18 Sell Shaji Varghese Individual 28. Jun 18 28. Jun 18 -10,000 ₹1,215.78 ₹-12,157,839
29. Jun 18 Sell Anshul Bhargava Individual 25. May 18 26. May 18 -10,000 ₹1,212.18 ₹-12,110,900
29. Jun 18 Sell Nitant Desai Individual 25. May 18 26. May 18 -18,100 ₹1,214.86 ₹-21,683,892
27. Jun 18 Sell Satish Singh Individual 25. May 18 25. May 18 -4,000 ₹1,206.87 ₹-4,827,500
27. Jun 18 Sell Satish Singh Individual 25. Jun 18 25. Jun 18 -4,000 ₹1,206.87 ₹-4,827,500
27. Jun 18 Sell Vimal Chawla Individual 25. May 18 25. May 18 -500 ₹1,233.00 ₹-616,500
27. Jun 18 Sell Saurabh Bandi Individual 25. May 18 25. May 18 -1,000 ₹1,173.75 ₹-1,173,750
27. Jun 18 Sell Ajay Gupta Individual 25. May 18 25. May 18 -4,000 ₹1,218.75 ₹-4,875,000
27. Jun 18 Sell Sanjay Jain Individual 25. May 18 25. May 18 -10,000 ₹1,180.00 ₹-11,800,000
27. Jun 18 Sell Vimal Chawla Individual 25. Jun 18 25. Jun 18 -500 ₹1,233.00 ₹-616,500
27. Jun 18 Sell Saurabh Bandi Individual 25. Jun 18 25. Jun 18 -1,000 ₹1,173.75 ₹-1,173,750
27. Jun 18 Sell Ajay Gupta Individual 25. Jun 18 25. Jun 18 -4,000 ₹1,218.75 ₹-4,875,000
27. Jun 18 Sell Sanjay Jain Individual 25. Jun 18 25. Jun 18 -10,000 ₹1,180.00 ₹-11,799,999
22. Jun 18 Sell Ashutosh Sharma Individual 18. May 18 18. May 18 -1,000 ₹1,104.51 ₹-1,104,510
22. Jun 18 Sell Ajay Gupta Individual 21. Jun 18 21. Jun 18 -1,000 ₹1,110.00 ₹-1,110,000
20. Jun 18 Sell Chandra Sahu Individual 14. Jun 18 14. Jun 18 -2,000 ₹1,120.00 ₹-2,240,000
15. Jun 18 Sell Ashok Shukla Individual 11. Jun 18 11. Jun 18 -3,500 ₹1,100.00 ₹-3,850,000
12. Jun 18 Sell Ashok Shukla Individual 01. Jun 18 08. Jun 18 -785 ₹1,210.21 ₹-916,315
12. Jun 18 Sell Ashok Shukla Individual 01. Jun 18 08. Jun 18 -785 ₹1,210.21 ₹-916,316
31. May 18 Sell Chandra Sahu Individual 21. May 18 29. May 18 -758 ₹1,251.48 ₹-943,049
31. May 18 Sell Chandra Sahu Individual 21. May 18 29. May 18 -758 ₹1,251.48 ₹-943,050
31. May 18 Sell Ashutosh Sharma Individual 25. May 18 25. May 18 -2,000 ₹1,241.46 ₹-2,482,925
25. May 18 Sell Akhilesh Srivastava Individual 24. May 18 24. May 18 -2,000 ₹1,221.08 ₹-2,442,160
25. May 18 Sell - Rampal Individual 18. May 18 22. May 18 -418 ₹1,275.58 ₹-527,731
23. May 18 Sell Ashutosh Sharma Individual 17. May 18 17. May 18 -500 ₹1,280.00 ₹-640,000
18. May 18 Sell Ashutosh Sharma Individual 14. May 18 15. May 18 -1,500 ₹1,284.93 ₹-1,926,769
14. May 18 Sell Sanjaya Gupta Individual 10. May 18 10. May 18 -72,250 ₹1,314.83 ₹-94,996,712
30. Mar 18 Sell K Nathan Individual 27. Mar 18 27. Mar 18 -2,250 ₹1,240.00 ₹-2,790,000
X
Management checks
We assess PNB Housing Finance's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PNB Housing Finance has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

540173 News

Simply Wall St News

Is PNB Housing Finance Limited (BOM:540173) Undervalued After Accounting For Its Future Growth?

Growth expectations for PNB Housing Finance Limited (BOM:540173) are high, but many investors are starting to ask whether its last close at ₹1134.6 can still be rationalized by the future potential. … What can we expect from PNB Housing Finance in the future. … The excitement around PNB Housing Finance's growth potential is not unfounded

Simply Wall St -

540173 Company Info

Description

PNB Housing Finance Limited operates as a housing finance company in India. The company offers housing loans for the purchase, construction, repair, and upgradation of houses and flats; loans for commercial spaces; loans against property; loans for purchase of residential plots; loans for purchase, construction, and extension of dwelling units; home loans for nonresident Indians and persons of Indian origin; Unnati home loans; and credit linked subsidy scheme for economical weaker section, and lower and middle income groups. It also provides non home loans, including loans for purchase/construction of commercial properties, residential/commercial immovable property mortgage loans, lease rental discounting loans, and loans for real estate developers. In addition, the company offers fixed deposits. As of March 31, 2018, it operated 84 branches, 21 regional offices, and 3 zonal offices across 47 locations and 21 hubs. The company was incorporated in 1988 and is headquartered in New Delhi, India.

Details
Name: PNB Housing Finance Limited
540173
Exchange: BSE
Founded: 1988
₹146,724,911,843
167,465,516
Website: http://www.pnbhousing.com
Address: PNB Housing Finance Limited
Antriksh Bhawan,
9th Floor,
New Delhi,
Delhi, 110001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540173 Equity Shares Mumbai Stock Exchange IN INR 07. Nov 2016
NSEI PNBHOUSING Equity Shares National Stock Exchange of India IN INR 07. Nov 2016
Number of employees
Current staff
Staff numbers
1,290
PNB Housing Finance employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 12:53
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/01/25
Last earnings filing: 2019/01/24
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.