PNB Housing Fin - Fast Growing HFC

Not sure what it means by Primary home sales.

I infer the word “Primary Home” is related to a buyer who buys a residential property for the first time in his or her life OR the main residence or 'The home". I could be wrong.

I think 26% home loan disbursement are related to primary home loan sales basically means the developers new constructions and rest 74% secondary market sales and others is what i understood. going forward ROA and ROE will improve what management indicating.


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A lovely video on Sanjaya Gupta speech.Does anyone has full version of it?


Can anybody tell me the difference between nim and spreads please

Source: #Social media #copied

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check here --> How to analyze NBFC companies?


Call transcripts:



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Today’s move may have been because of:

JM Financial come up with report yesterday with the target of 1680


Credir suisse initiated the coverage

And both the stocks are down today :wink:

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Is the housing finance story over?
Almost all the HFCs are correcting (infact more than a correction), any views from the members.

My theory - interest rates have bottomed out, growth is slowing in the near term. I have also seen rise in NPA levels in many HFCs which could be an industry trend.

If there is no growth - hence no deemand for credit - why would interest rates go up then?

Interest rates do not depend on supply/demand for credit only. When I said interest rates have bottomed, did not mean it will start going up right away. A combination of domestic demand revival and cost push due to oil/metals etc is enough for RBI to start tightening. Also, US bond yields and INR fx rates also play vital role. I am more worried about rising NPA levels than interest rates. If you take any large city, majority of home loan customers over the last 10 years have been from the IT sector. Home prices have stopped rising and there is great possibility of rise in delinquencies.

Just check Manappuram, Repco, and Aspire (Motilal) which lend to self employed segments and their NPA have sky rocketed to 3%+. I would have been ok if they were available at much cheaper valuations.


Mumbai is a large city. How many people in Mumbai are employed in the IT sector? Do they comprise the majority of the home loan borrowers? Delhi is a big city. How many IT employees can afford to buy houses in Delhi? What about cities like Ahmedabad that depend more on trading?

Please be considerate while calling other’s analysis simplistic. Most of us end-up doing simplistic analyses sometimes.


Dear Forum members,

Let us focus on PNB Housing in this topic. For a broader discussion on EV and its impact, there is a dedicated forum. Kindly use it for deeper discussion on the topic.