ICICI Securities recommends PNB Housing Finance buy with ₹1,350 target
Business
ICICI Securities is recommending PNB Housing Finance as a buy, setting a target price of ₹1,350.
The call comes after the company's strong showing in the first half of FY2027, with standout loan growth and healthier asset quality catching analysts' attention.
PNB Housing posts 19% loan growth
PNB Housing Finance posted 19% year-on-year loan growth, the highest since FY19, and brought down its bad loans to just 0.91%.
To handle rising interest rates and other challenges, they're using their AAA rating to branch into areas like micro housing and developer finance.
For FY2027, they're targeting gross loan growth at 18-20% in FY27 and solid returns, all while keeping credit risks low.