Whalesbook
PNB Housing Finance ne Q4 FY26 mein toh kamaal ka profit report kiya hai! Net profit mein 19.2% ki bhari bharkam growth hui hai, jo ki ₹551 Crore se badh kar ₹656 Crore ho gaya. Aur total income bhi 6.6% badh kar ₹2,172 Crore tak pahunch gayi. Aisa laga tha ki stock bhaagega, par hua ulta!
Stock 1.84% neeche gir kar ₹906.75 par band hua. Poora saal dekhein toh stock 4.7% down hai aur pichhle 12 mahine mein toh 8.47% neeche ja chuka hai. Yehi toh game hai, jab results acche aao aur stock gir jaye!
Ab sawaal yeh hai ki itna achha profit hone ke baad bhi share kyu gira? Asal mein, baat hai valuation ki. PNB Housing Finance ka P/E ratio lagbhag 10.72 hai. Dusri taraf, LIC Housing Finance ka P/E sirf 5.44 hai, jo ki kaafi kam hai. HDFC Bank ka P/E 16.73 hai. Matlab, investors ko shayad PNB Housing Finance ka valuation zyada lag raha hai LIC Housing Finance ke mukable, despite good earnings.
Housing finance sector toh waise achha perform kar raha hai. 2034 tak market USD 839.91 billion ka ho sakta hai, khaas kar affordable housing mein 19.8% ki CAGR se growth expected hai. NBFC-HFC sector ka portfolio bhi 16% badha hai.
Pichli baar Q4 FY25 results ke baad toh PNB Housing Finance ka stock 10% bhaga tha. Abhi market thoda cautious hai, shayad interest rate badhne ka dar ho ya phir sector mein competition ka. Company ne apne NPAs bhi control mein rakhe hain, Net NPA 0.57% aur Gross NPA 0.93% hai.
Analysts ka kehna hai ki 12 analysts ne 'Buy' rating di hai aur price targets bhi achhe hain. Lekin stock market ka reaction dekh kar lagta hai ki log future growth aur sector risks ko lekar thoda worried hain. Especially jab competitors jaise LIC Housing Finance ka P/E kaafi low hai, toh PNB Housing Finance ka 10.72 ka P/E thoda zyada lag sakta hai, jabki Bajaj Finance jaisi companies 31 ke P/E par bhi chal rahi hain apne alag business model ke karan.