Transcript of Earnings Call Q1 FY27 held on August 05, 2026.

Ref: PNBHFL/SE/EQ/FY2026-27/53 August 07, 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 June 30, 2026 – Q1FY27 Ref: Our letters (i) PNBHFL/SE/EQ/FY2026-27/45 dated July 27, 2026 (Earnings call invitee) (ii) PNBHFL/SE/EQ/FY2026-27/51 dated August 05, 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 August 05, 2026 on Un-Audited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 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 Q1 FY27 Earnings Conference Call” August 05, 2026 MANAGEMENT: MR. AJAI KUMAR SHUKLA – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – PNB HOUSING FINANCE LIMITED MR. VINAY GUPTA – CHIEF FINANCIAL OFFICER – PNB HOUSING FINANCE LIMITED MS. MITI GUPTA – INVESTOR RELATIONS MANAGER – PNB HOUSING FINANCE LIMITED Page 1 of 16 Internal PNB Housing Finance Limited August 05, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the PNB Housing Finance Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will remain 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 the conference call, please signal the operator by pressing star then zero on your touchtone telephone. Please note that this conference is being recorded. I will now hand the conference over to Ms. Miti Gupta, Investor Relations Manager, for opening remarks. Thank you, and over to you. Miti Gupta: Thank you, Ryan. Good morning, and welcome, everyone. We are here to discuss PNB Housing Finance Q1 FY26-27 results. You must have seen our business and financial numbers in the presentation and the press release shared with the 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 our business. These forward-looking statements involve risks and uncertainties that may cause actual developments 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 45 of the investor presentation. With this, I will now hand over the call to our Managing Director and CEO, Mr. Ajai Kumar Shukla. Over to you, sir. Ajai Kumar Shukla: Thank you, Miti. Good morning, everyone, and thank you for joining us today. Before I discuss our performance for the quarter, let me briefly touch upon the industry environment. India entered financial year 2027 from a position of relative macroeconomic strength, although external risk increased materially during Q1 FY27. Domestic demand remained resilient, supported by government infrastructure spending, healthy banking system liquidity and steady service activity. However, geopolitical tension in West Asia, volatile crude oil prices and uncertainty around the monsoon led to a slightly more cautious growth outlook. The housing finance sector particularly continues to benefit from strong structural drivers, including rising urbanization, increasing homeownership, aspirations, favorable demographics and continued government focus on affordable housing. Demand remained healthy across retail mortgage segments during the quarter, particularly in Affordable and Emerging Markets, which continue to offer significant growth opportunities. During the quarter, the RBI maintained the policy repo rate at 5.25%, providing a stable interest rate environment for borrower while also announcing measures to support liquidity and funding access within the financial system. Page 2 of 16 Internal PNB Housing Finance Limited August 05, 2026 Further, RBI revised its FY27 GDP growth forecast from 6.9% to 6.66% in its June 2026 policy review, reflecting concerns around higher energy costs, supply chain disruptions and weaker external demand. Nevertheless, India continues to be among the fastest-growing major economies with private consumption and services providing key support. The quarter was also characterized by heightened global uncertainty arising from the U.S.-Iran conflict, which led to higher crude oil prices, increased market volatility and tighter liquidity conditions. Despite these external challenges, India's macroeconomic fundamentals remain resilient and housing demand continued to hold up well. Now coming to PNB Housing Finance, we have begun FY27 on a steady note, reflecting the strength of our retail-focused business model and disciplined execution. Further, please note that starting this quarter, disbursements are being recognized based on check realization rather than check handover basis. On a comparable cheque handover basis, disbursement delivered a strong 56% Y-o-Y growth, reflecting sustained business momentum. Disbursement growth should normalize from Q2 FY27 onwards and should reflect a strong growth trajectory going forward. Post the one-time impact of this transition, disbursement for Q1 FY27 grew at 18% Y-o-Y at INR5,882 crores. At segmental level, Prime and Emerging Market has seen a double-digit growth at year-on-year level and stood at INR 3,083 crores and INR 2,029 crores for Q1 FY27 with a disbursement of INR 555 crores in Affordable segment, which is currently less than the target level. We are actively focusing on increasing the productivity of Affordable branches, while select Prime and Emerging Market branches also started contributing to Affordable business. This number which I quoted, INR555 crores, is basically net, as I said that we have now transitioned from gross to net. Overall loan book grew by 15% Y-o-Y to INR 89,670 crores as on 30th June 2026. While the retail loan portfolio increased by 16% Y-o-Y to INR 89,178 crore, the Affordable and Emerging market segment continue to be our key growth engine, growing 27% Y-o-Y and contributing 41% of retail portfolio. We remain on track to increase the contribution to 45% by the end of FY27. I'm pleased to share that as part of our new initiative to augment high-yield portfolio growth, we disbursed INR 71 crores under Emerging Developer Finance program. We also started Affordable business from selected Prime and Emerging branches, successfully disbursed in the first month of the quarter, which was June, almost INR 30 crores in Affordable business from these branches. Also, as part of our growth strategy, we have commenced full buyout transactions and acquired loan assets aggregating to INR146 crores during the quarter. These initiatives will support faster scale up of the loan book while enhancing portfolio yield and maintaining portfolio quality. We are particularly pleased to have facilitated over 7,000 subsidie [Showing first 8,000 characters — download PDF for full document]