Analysts/Institutional Investor Meet/Con. Call Updates

Ref: PNBHFL/SE/EQ/FY2026-27/94 November 02, 2026 BSE Limited National Stock Exchange of India Limited Listing Department, Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 540173 Symbol: PNBHOUSING Dear Sir(s), Sub: Transcript of Earnings Conference Call held on October 28, 2026 – Q2FY27 Ref: Our letters (i) PNBHFL/SE/EQ/FY2026-27/87 dated October 16, 2026 (Earnings call invitee) (ii) PNBHFL/SE/EQ/FY2026-27/92 dated October 28, 2026 (Audio Link) Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, please find attached the transcript pertaining to the Earnings Call held on October 28, 2026 on Un-audited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. This intimation is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the same shall also be available on the website of the Company at www.pnbhousing.com Kindly take the above document on record. Thanking You, Yours faithfully, For PNB Housing Finance Limited Veena G Kamath Company Secretary Encl: As above. Regd. Office: 9th Floor, Antriksh Bhawan, 22 K G Marg, New Delhi – 110 001 Phone: 011-66030500, E-mail: investor.services@pnbhousing.com, Website: www.pnbhousing.com CIN: L65922DL1988PLC033856 Public “PNB Housing Finance Limited Q2 and H1 FY26-27 Earnings Call” October 28, 2026 MANAGEMENT: MR. AJAI KUMAR SHUKLA – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – PNB HOUSING FINANCE LIMITED MR. VINAY GUPTA – CHIEF EXECUTIVE OFFICER – PNB HOUSING FINANCE LIMITED MR. CHAITANYA YADAV – NATIONAL HEAD, CORPORATE PLANNING AND INVESTOR RELATIONS – PNB HOUSING FINANCE LIMITED Page 1 of 17 Internal PNB Housing Finance Limited October 28, 2026 Moderator: Ladies and gentlemen, good day and welcome to PNB Housing Finance Limited Q2 and H1 FY26-27 Earnings Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then 0 on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Chaitanya Yadav, National Head, Corporate Planning and Investor Relations. Thank you, and over to you, sir. Chaitanya Yadav: Thank you, Iqra. Good evening and welcome everyone. We are here to discuss PNB Housing Finance Q2 and HI FY26-27 results. You must have seen our business and financial numbers in the presentation and the press release shared with the Indian Stock Exchanges and are also available on our website. With me, we have our management team led by Mr. Ajai Kumar Shukla, Managing Director and CEO of the company. We will begin this call with the performance update by the management team, followed by an interactive Q&A session. Please note, this call may contain forward-looking statements which exemplify our judgment and future expectations concerning the development of the business. These forward-looking statements involve risks and uncertainties that may cause actual development and results to differ materially from our expectations. PNB Housing Finance undertakes no obligation to publicly revise any forward-looking statements to reflect future events or circumstances. A detailed disclaimer is on Slide number 45 of the investor presentation. With this, I will hand over the call to our MD and CEO, Mr. Ajai Kumar Shukla. Over to you, Sir. Ajai Kumar Shukla: Thank you Chaitanya. Good evening everyone and welcome to PNB Housing Finance Q2 and H1 FY27 earning call. Thank you for taking the time to join us today. We are delighted to share that CRISIL has upgraded our credit rating to AAA with a stable outlook. With this upgrade, we are now AAA by all 4 leading domestic rating agencies: CRISIL, ICRA, CARE Rating, and India Rating. This achievement reflects the strength of our balance sheet, prudent risk management, strong asset quality and the consistency of our operating performance. Before discussing our operational performance for the quarter, Let me begin by sharing some perspective on the industry environment and the key trends shaping the housing finance sector. The recent 25 bps reported hike by RBI and clear policy guidance reinforce confidence in the housing finance sector's medium-term prospects. While broader macroeconomic developments may influence growth trends periodically, the sector continues to benefit from strong structural drivers including urbanization, improving Page 2 of 17 Internal PNB Housing Finance Limited October 28, 2026 infrastructure, rising incomes, favorable demographics and increasing homeownership aspirations. These factors continue to support resilient housing demand and healthy growth. Industry prospects also remain encouraging. ICRA expects affordable housing finance companies to deliver AUM growth of 19%-21% in FY27 supported by robust demand, expanding distribution reach, and the significant opportunity presented by India's underpenetrated housing finance market. Coming to PNB Housing Finance Q2 FY27 was a landmark quarter for the company. Some of the key highlights for the quarter are as follows. Overall disbursement grew 60% YoY to INR 9,609 crores. This includes pool buyout of INR 838 crores. Retail disbursements reached an all-time high of INR 9,250 crores, registering a growth of 54% YoY. Loan book grew by 19% YOY, in line with our guidance, led by strong disbursements. GNPA improved to 0.91% vs 0.95% in Q1 FY27. Spread improved to 2.43% as 2.12% in Q1 FY27. ROA and ROE improved to 2.53% and 12.33% respectively. At segment level, the affordable business witnessed a strong revival following the strategic initiative undertaken over the past few quarter, with disbursal growth of 40% YoY to INR1,149 crores. The emerging market business delivered another strong quarter with disbursement growing 36% YoY to INR 2,882 crores. Our prime business continued its steady momentum with disbursement reaching INR4,380 crores, up by 44% YoY. Corporate disbursement stood at INR 360 crores for Q2 FY 27 versus INR 215 crores in Q1 FY27. This translated to an overall loan book of INR 95,079 crores as on 30th September '26, representing growth of 19% YoY. Our retail loan portfolio also grew by 19% YoY to INR 94,391 crores. Within retail portfolio, the affordable and emerging markets segment continued to be our key growth engines, representing YoY book growth of 45% and 22% respectively, and together contributing 41% of overall retail portfolio. We remained on track to increase this contribution to 45% by the end of FY 26-27. Let me also update you all on our strategic initiatives that we highlighted during Q1 earning call. We Page 3 of 17 Internal PNB Housing Finance Limited October 28, 2026 disbursed INR 107 crores under Emerging Developer Finance in H1 FY27 and INR 241 crores of affordable business from selected Prime and Emerging branches. As announced in Q1 FY27, we launched our Micro Housing business during Q2 FY27 and have already disbursed INR 71 crores under this initiative. Additionally, we completed a pool buyout of INR 986 crores during H1 FY27, further supporting growth in our earning assets. These initiatives are expected to accelerate the scale-up of our loan book while enhancing portfolio yield and maintain portfolio quality. Under PMAY, we undertook an extensive awareness campaign through PMAY Yatra across key markets in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, and Uttar Pradesh. These initiatives have helped thousands of families better understand the benefits of scheme and navigate their home ownership journey with greater ease. We further strengthen our affordable housing outreach through the inauguratio [Showing first 8,000 characters — download PDF for full document]