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}}
-{{Orphan|date=September 2018}}
+{{Use Indian English|date=September 2020}}
+{{Use dmy dates|date=September 2020}}
 {{Infobox company
 | name = PNB Housing Finance Ltd
 | 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 = Sanjaya Gupta<br/> (Managing Director) <br/>Ajay Gupta <br/>(ED & Chief Risk Officer) <br/> Shaji Varghese <br/>(ED & Business Head) <br/> Sanjay Jain <br/>(Company Secretary & Compliance Head)<br/> Kapish Jain<br/> (Chief Financial Officer) <br/> Anshul Bhargava<br/> (Chief People 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 = Housing Finance Company (HFC), Financial services, BFSI
+| industry = [[Financial services]], Housing Finance Company (HFC), [[BFSI]]
-| products = Home Loans, Home Improvement Loans, Home Construction Loans ,Plot Loans,Home Extension Loans, Land Loans, Loan Against Property,Lease Rental Discounting, Fixed Deposits
+| 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 (PNBHFL)''' is an Indian public limited housing finance company (HFC), headquartered in New Delhi with branches in major cities across India. The company is promoted by [[Punjab National Bank]] and is registered with state owned bank and regulation authority of India - National Housing Bank (NHB).<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 |date=29 March 2019 |accessdate=29 March 2019 |language=en}}</ref>
-Company fixed deposit program has been rated “FAA+/Stable” by CRISIL<ref>{{cite web|url=https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/PNB_Housing_Finance_Limited_July_26_2019_RR.html|title=Company Factsheet|author=NULL|publisher=Crisil.com}}</ref>. The rating of “FAA+/Stable” indicates “High Safety” with regards to the repayment of interest and principal. Commercial Paper is rated at “A1(+)” by CARE & CRISIL and Non-Convertible Debenture (NCD) are rated at “AAA” by CARE, “AAA” by India Ratings, “AA+” by CRISIL and “AA+” by ICRA. Bank Loans Long Term Rating is rated at “AAA” by CARE and ‘’AA+’’ by CRISIL.
+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.
-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>
-As on 31st 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 November 11, 1988 as a wholly owned subsidiary of Punjab National Bank (PNB). On December 9, 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>http://www.business-standard.com/article/finance/carlyle-picks-up-destimoney-s-49-stake-in-pnb-housing-finance-business-standard-news-115022500315_1.html</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 34: / 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]], 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 42: / Line 45: @@
 '''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
+'''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
 '''Deposits:'''<ref>{{cite web|author=MSSN Team |url=https://savers.moneylife.in/blog/consumer-protection/article/pnb-housing-finance-fixed-deposit-scheme/666.html |title=PNB Housing Finance entices investors with as high as 15% "yield" |publisher=Moneylife.in}}</ref> PNB HFL also offers [https://www.pnbhousing.com/fixed-deposit/ Fixed Deposits] of different maturities and various interest payment options
-== Corporate social responsibilities ==
-*PNB Housing has joined hands with mobile creches for providing day-care and schooling facilities to the children of construction-site workers.
-*The company has collaborated with Kids for Kids – an NGO – to help spread smiles among the citizens for tomorrow. Company’s annual calendars have been designed by Kids for Kids, using children’s talent and creativity.
-*PNB Housing has also entered into an MoU with Indian Medical Association (IMA) whereby it ploughs 25% of the processing fee collected from IMA doctors and invests this amount in health camps organized for the underprivileged
-*Company has also contributed to Sanjivini Society of Mental Health, an NGO that addresses mental health needs of the Indian Society
-== Rewards and recognitions ==
-*PNB Housing wins award for "Brand Excellence in NBFC Category"<ref>{{Cite news|url=http://www.indiainfoline.com/article/news-top-story/sbi-yes-bank-reliance-among-winners-at-the-economic-times-best-bfsi-brands-2016-116061700063_1.html|title=SBI, Yes Bank, Reliance among winners at The Economic Times 'Best BFSI Brands 2016'|last=indiainfoline.com|access-date=2016-11-22}}</ref> at the Economic Times Best BFSI Brands 2016
-*PNB Housing awarded for ‘Brand excellence in Banking, Finance and Insurance sector’ at the prestigious 7th CMO Asia Awards<ref>{{Cite web|url=http://www.cmoasia.org/excellence_in_branding_and_marketing_award_2016.html|title=CMO ASIA|website=www.cmoasia.org|access-date=2016-11-22|url-status=dead|archiveurl=https://web.archive.org/web/20160812112157/http://www.cmoasia.org/excellence_in_branding_and_marketing_award_2016.html|archivedate=2016-08-12}}</ref> for Excellence in Branding & Marketing
-*PNB Housing awarded for contribution towards CSR at the India Pride Awards – 2016 <ref>http://www.pocketnewsalert.com/2016/04/PNB-Housing-Finance-Limited-conferred-for-Excellence-in-CSR-at-India-Pride-Awards-2016.html</ref>
-*PNB Housing awarded as the ‘Housing Finance Company of the Year’ at the 8th Annual Real Estate Summit and Awards hosted by Franchise India and ET Now.
-*PNB Housing felicitated for ‘Outstanding Contribution to CSR’ by CREDAI – 16th Dec, 2015<ref>http://businessworld.in/article/PNB-Housing-Finance-Gets-Award-For-Its-CSR-Initiative/17-12-2015-89485/</ref>
-*PNB Housing’s Annual report won bronze award at 20th Big Bang awards for excellence in communication and media
-*PNB Housing has bagged the “Best Apprenticeship/ On the Job training program” Gold Award at the 7th Annual (Tata Institute of Social Sciences) TISS Leapvault CLO (Chief Learning Officers) Awards.<ref>{{Cite web|url=http://economictimes.indiatimes.com/pnb-housing-finance-ltd/infocompanyhistory/companyid-4749.cms|title=The Economic Times|website=economictimes.indiatimes.com|access-date=2016-11-22}}</ref>
-*"Special Commendation Award" by Best Change Intervention from Asia Study 2013<ref>{{cite web|author=PNBHFL |url=http://www.pnbhfl.com/aboutus.aspx#awards |title=Awards and Recognition |publisher=Pnbhfl.com}}</ref>-organisations that have successfully designed, executed and managed change.
-*The Company was also recognised for rapid growth and was awarded the `Fastest Growing HFC by Franchisee India.
-*Company has been acknowledged by HUDCO for its “significant contribution to housing for the year 2013-14.”
-*The change management story got published in “Switch”, amongst 12 best change management stories of India<ref>{{cite web|author=India Infoline News Service |url=http://www.indiainfoline.com/article/news/how-12-indian-companies-managed-change-successfully-5895479282_1.html  |title=How 12 Indian Companies Managed Change Successfully |publisher=Indiainfoline.com}}</ref>
 ==Citations and references==
 {{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]]