PNB Housing Finance Limited: Difference between revisions

PNB Housing Finance Ltd
Company type	Public
Traded as	NSE: PNBHOUSING; BSE: 540173;
Industry	Financial services, Housing Finance Company (HFC), BFSI
Founded	11 November 1988
Headquarters	New Delhi, India
Number of locations	189 branches (2023)
Area served	India
Key people	Girish Kousgi (Managing Director) ; Sanjay Jain (Company Secretary & Compliance Head); Anubhav Rajput (Chief Technology Officer)
Products	Home Loans, Mortgage loan, Home Improvement Loans, Home Construction Loans, Plot Loans, Home Extension Loans, Land Loans, Loan Against Property, Lease Rental Discounting, Fixed Deposits
Revenue	₹7,057 crore (US$850 million) (2024)
Operating income	₹1,954 crore (US$230 million) (2024)
Net income	₹1,508 crore (US$180 million) (2024)
Total assets	₹72,405 crore (US$8.7 billion) (2024)
Number of employees	~1690 (2023)
Website	www.pnbhousing.com

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PNB Housing Finance Limited (PNB Housing) is an Indian housing finance company registered with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988. PNB Housing is promoted by Punjab National Bank (PNB). The Company came out with a public issue of equity shares in November 2016. Its equity shares are listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange with effect from 7 November 2016.^[2] The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits.

On 30 March 2019, Punjab National Bank announced that it had signed an agreement to sell a 13.01% stake in PNB Housing Finance to private equity firm General Atlantic and alternative investment firm Varde Partners for ₹1,851.60 crore (US$220 million).^[3]^[4]

As on 31 December 2018, the shareholding pattern in PNB HFL, Highest shareholding is 32.7 percent of PNB BANK (PROMOTER/Parent) & 32.3 Percent of Quality investment holding (QIH) & remaining part of FII, public, mutual fund companies, corporate bodies & others.

Company history

PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). On 9 December 2009 PNB entered into a strategic partnership with Destimoney Enterprises Private Limited (DEPL)^[5] and sold its 26% stake to DEPL. DEPL which held 49% shares in the company until February 2015 sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm.^[6] The remaining 51% was owned by the parent bank i.e. Punjab National Bank.

In November 2016, the Company came out with a public issue of equity shares. Its equity shares are listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with effect from 7 November 2016. Post the public issue, the promoters jointly hold 76% of shared in the company and the public shareholding stands at 24%. The Company does have a 100% owned subsidiary for offering various loans under a dedicated direct sales force.

Operations

The company has Pan India presence in more than 60 locations through a network of 84 branches & 36 outreach offices as on 31 March 2018. Company’s 22 hubs are located at New Delhi, Bengaluru, Chandigarh, Bhopal, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Trivandrum, Cochin, Coimbatore, Mumbai, Thane, Pune, Ahmedabad, Indore and Hyderabad which support branch operations The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium. Fixed Deposits, other than direct channel is also sourced via Broker Network

Products

Home Loan: PNB Housing provides housing loans to individuals for construction, purchase, repair, and upgrade of houses.

Non Home Loan: The company also provides loan against property, commercial property loan, lease rental discounting loans for commercial property, loans for purchase of residential plots and loan for real estate developers

Deposits:^[7] PNB HFL also offers Fixed Deposits of different maturities and various interest payment options

Citations and references

^ "FY24 Results".
^ NULL. "List of Housing Finance Companies granted Certificate of Registration" (PDF). nhb.org.
^ Panda, Subrata (29 March 2019). "PNB offloads stake in PNB Housing Finance for Rs 1,851 crore". Business Standard India. Retrieved 29 March 2019.
^ Bureau, Our (29 March 2019). "PNB inks pacts to sell 13% in housing arm for ₹1,852 crore". @businessline. Retrieved 29 March 2019. {{cite web}}: |last1= has generic name (help)
^ Fe Bureau (16 February 2017). "PNB sells 26% in housing finance arm to Destimoney". financialexpress.com.
^ Saha, Manojit (25 February 2015). "Carlyle picks up Destimoney's 49% stake in PNB Housing Finance". Business Standard. Retrieved 14 September 2020.
^ MSSN Team. "PNB Housing Finance entices investors with as high as 15% "yield"". Moneylife.in.

[1] "FY24 Results".

[2] NULL. "List of Housing Finance Companies granted Certificate of Registration" (PDF). nhb.org.

[3] Panda, Subrata (29 March 2019). "PNB offloads stake in PNB Housing Finance for Rs 1,851 crore". Business Standard India. Retrieved 29 March 2019.

[4] Bureau, Our (29 March 2019). "PNB inks pacts to sell 13% in housing arm for ₹1,852 crore". @businessline. Retrieved 29 March 2019. {{cite web}}: |last1= has generic name (help)

[5] Fe Bureau (16 February 2017). "PNB sells 26% in housing finance arm to Destimoney". financialexpress.com.

[6] Saha, Manojit (25 February 2015). "Carlyle picks up Destimoney's 49% stake in PNB Housing Finance". Business Standard. Retrieved 14 September 2020.

[7] MSSN Team. "PNB Housing Finance entices investors with as high as 15% "yield"". Moneylife.in.

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@@ Line 1: / Line 1: @@
+{{Short description|Indian housing finance company}}
 {{Use Indian English|date=September 2020}}
 {{Use dmy dates|date=September 2020}}
@@ Line 5: / Line 6: @@
 | logo = PNB Housing Finance.png
 | logo_size = 220px
-| type = Private company
+| type = [[Public company|Public]]
-| traded_as = [NSE India: PNBHOUSING]
+| traded_as = {{ubl|{{NSE|PNBHOUSING}}|{{BSE|540173}}}}
 | area_served = India
-| key_people = Hardayal Prasad<br/> (Managing Director) <br/> Sanjay Jain <br/>(Company Secretary & Compliance Head)<br/> Kapish Jain<br/> (Chief Financial Officer) <br/> Nitant Desai <br/>(Chief Operations & IT Officer)
+| key_people = Girish Kousgi (Managing Director) <br/> Sanjay Jain (Company Secretary & Compliance Head)<br/> Anubhav Rajput (Chief Technology Officer)
 | industry = [[Financial services]], Housing Finance Company (HFC), [[BFSI]]
 | products = Home Loans, [[Mortgage loan]], Home Improvement Loans, Home Construction Loans, Plot Loans, Home Extension Loans, Land Loans, Loan Against Property, Lease Rental Discounting, [[Fixed Deposits]]
-| aum = US $ 9,571 Mn (31-Mar-18)
+| locations = 189 branches (2023)
+| revenue = {{up}}{{INRConvert|7057|c}} (2024) <ref>{{Cite web|url=https://www.pnbhousing.com/documents/d/guest/Financial%20Result|title=FY24 Results}}</ref>
-| num_employees = ~1290 (2018)
+| operating_income = {{up}}{{INRConvert|1954|c}} (2024)
+| net_income = {{up}} {{INRConvert|1508|c}} (2024)
+| assets = {{up}}{{INRConvert|72405|c}} (2024)
+| num_employees = ~1690 (2023)
 | foundation = {{start date|df=yes|1988|11|11}}
 | location = [[New Delhi]], India
@@ Line 18: / Line 23: @@
 }}
-PNB Housing Finance Limited (PNB Housing) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the [[Companies Act 1956|Companies Act, 1956]] and commenced its operations on 11 November 1988. PNB Housing is promoted by Punjab National Bank (PNB). The Company came out with a public issue of equity shares in November 2016. Its equity shares are listed on National Stock Exchange (NSE) and [[BSE SENSEX|Bombay Stock Exchange (BSE)]] with effect from 7 November 2016''.'''''<ref>{{cite web|author=NULL |url=http://www.nhb.org.in/Regulation/List-granted-Certificate-Registration.pdf |title=List of Housing Finance Companies granted Certificate of Registration |publisher=nhb.org}}</ref> '''The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits'''.
+'''PNB Housing Finance Limited''' (PNB Housing) is an Indian housing finance company registered with [[National Housing Bank]] (NHB). It was incorporated under the [[Companies Act 1956|Companies Act, 1956]] and commenced its operations on 11 November 1988. PNB Housing is promoted by [[Punjab National Bank]] (PNB). The Company came out with a public issue of equity shares in November 2016. Its equity shares are listed on [[National Stock Exchange of India]] (NSE) and [[Bombay Stock Exchange]] with effect from 7 November 2016.<ref>{{cite web|author=NULL |url=http://www.nhb.org.in/Regulation/List-granted-Certificate-Registration.pdf |title=List of Housing Finance Companies granted Certificate of Registration |publisher=nhb.org}}</ref> The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits.
-On 30 March 2019, [[Punjab National Bank]] announced that it had signed an agreement to sell a 13.01% stake in PNB Housing Finance to private equity firm [[General Atlantic]] and alternative investment firm [[Varde Partners]] for {{INRConvert|1851.60|c}}.<ref>{{cite web |last1=Panda |first1=Subrata |title=PNB offloads stake in PNB Housing Finance for Rs 1,851 crore |url=https://www.business-standard.com/article/finance/pnb-offloads-stake-in-pnb-housing-finance-for-rs-1-851-crore-119032900383_1.html |website=Business Standard India |accessdate=29 March 2019 |date=29 March 2019}}</ref><ref>{{cite web |last1=Bureau |first1=Our |title=PNB inks pacts to sell 13% in housing arm for ₹1,852 crore |url=https://www.thehindubusinessline.com/companies/pnb-sells-1301-stake-in-housing-finance-arm-for-185160-cr/article26672761.ece |website=@businessline |accessdate=29 March 2019 |language=en}}</ref>
+On 30 March 2019, [[Punjab National Bank]] announced that it had signed an agreement to sell a 13.01% stake in PNB Housing Finance to private equity firm [[General Atlantic]] and alternative investment firm [[Varde Partners]] for {{INRConvert|1851.60|c}}.<ref>{{cite web |last1=Panda |first1=Subrata |title=PNB offloads stake in PNB Housing Finance for Rs 1,851 crore |url=https://www.business-standard.com/article/finance/pnb-offloads-stake-in-pnb-housing-finance-for-rs-1-851-crore-119032900383_1.html |website=Business Standard India |accessdate=29 March 2019 |date=29 March 2019}}</ref><ref>{{cite web |last1=Bureau |first1=Our |title=PNB inks pacts to sell 13% in housing arm for ₹1,852 crore |url=https://www.thehindubusinessline.com/companies/pnb-sells-1301-stake-in-housing-finance-arm-for-185160-cr/article26672761.ece |website=@businessline |date=29 March 2019 |accessdate=29 March 2019 |language=en}}</ref>
 As on 31 December 2018, the shareholding pattern in PNB HFL, Highest shareholding is 32.7 percent of PNB BANK (PROMOTER/Parent) & 32.3 Percent of Quality investment holding (QIH) & remaining part of FII, public, mutual fund companies, corporate bodies & others.
@@ Line 26: / Line 31: @@
 ==Company history==
-PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). On 9 December 2009 PNB entered into a strategic partnership with Destimoney Enterprises Private Limited (DEPL)<ref>{{cite web|author=Fe Bureau |url=http://archive.financialexpress.com/news/PNB-sells-26-in-housing-finance-arm-to-Destimoney/552124 |title=PNB sells 26% in housing finance arm to Destimoney |publisher=financialexpress.com}}</ref> and sold its 26% stake to DEPL. DEPL which held 49% shares in the company until February 2015 sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm.<ref>{{cite news | url=https://www.business-standard.com/article/finance/carlyle-picks-up-destimoney-s-49-stake-in-pnb-housing-finance-business-standard-news-115022500315_1.html | title=Carlyle picks up Destimoney's 49% stake in PNB Housing Finance | newspaper=Business Standard | first=Manojit | last=Saha | date=25 February 2015 | accessdate=14 September 2020 }}</ref> The remaining 51% was owned by the parent bank i.e. [[Punjab National Bank]].
+PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). On 9 December 2009 PNB entered into a strategic partnership with Destimoney Enterprises Private Limited (DEPL)<ref>{{cite web|author=Fe Bureau |url=http://archive.financialexpress.com/news/PNB-sells-26-in-housing-finance-arm-to-Destimoney/552124 |title=PNB sells 26% in housing finance arm to Destimoney |date=16 February 2017 |publisher=financialexpress.com}}</ref> and sold its 26% stake to DEPL. DEPL which held 49% shares in the company until February 2015 sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm.<ref>{{cite news | url=https://www.business-standard.com/article/finance/carlyle-picks-up-destimoney-s-49-stake-in-pnb-housing-finance-business-standard-news-115022500315_1.html | title=Carlyle picks up Destimoney's 49% stake in PNB Housing Finance | newspaper=Business Standard | first=Manojit | last=Saha | date=25 February 2015 | accessdate=14 September 2020 }}</ref> The remaining 51% was owned by the parent bank i.e. [[Punjab National Bank]].
 In November 2016, the Company came out with a public issue of equity shares. Its equity shares are listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with effect from 7 November 2016. Post the public issue, the promoters jointly hold 76% of shared in the company and the public shareholding stands at 24%. The Company does have a 100% owned subsidiary for offering various loans under a dedicated direct sales force.
@@ Line 32: / Line 37: @@
 ==Operations==
-The company has Pan India presence in more than 60 locations through a network of 84 branches & 36 outreach offices as on 31 March 2018. Company’s 21 hubs are located at [[New Delhi]], [[Bangalore|Bengaluru]], [[Chandigarh]], [[Chennai]], [[Noida]], [[Jaipur]], [[Dehradun]], [[Lucknow]], [[Kolkata]], Cochin, Coimbatore, Mumbai, Thane, Pune, [[Ahmedabad]], Indore and Hyderabad which support branch operations
+The company has Pan India presence in more than 60 locations through a network of 84 branches & 36 outreach offices as on 31 March 2018. Company’s 22 hubs are located at [[New Delhi]], [[Bangalore|Bengaluru]], [[Chandigarh]], [[Bhopal]], [[Chennai]], [[Noida]], [[Jaipur]], [[Dehradun]], [[Lucknow]], [[Kolkata]], Trivandrum, Cochin, Coimbatore, Mumbai, Thane, Pune, [[Ahmedabad]], Indore and Hyderabad which support branch operations
 The company provides doorstep service for its products via Direct Sales Team (DST) channel.
 Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.
@@ Line 38: / Line 43: @@
 ==Products==
 '''Home Loan:''' PNB Housing provides housing loans to individuals for construction, purchase, repair, and upgrade of houses.
 '''Non Home Loan:''' The company also provides [https://www.pnbhousing.com/non-home-loans/loan-against-property/ loan against property], commercial property loan, lease rental discounting loans for commercial property, loans for purchase of residential plots and loan for real estate developers
@@ Line 45: / Line 50: @@
 ==Citations and references==
-{{reflist}}{{Financial services in India}}
+{{reflist}}
+{{Financial services in India}}
 [[Category:Housing finance companies of India]]
+[[Category:Companies listed on the Bombay Stock Exchange]]
+[[Category:Companies listed on the National Stock Exchange of India]]
+[[Category:The Carlyle Group companies]]