MUMBAI: The third largest pureplay housing finance company PNB Housing Finance is targeting a threefold growth in its affordable housing loan book to Rs 15,000 crore by FY27. The company expects the loan book to scale past Rs 5,000 crore by the end of this fiscal.
"With a vision to take our affordable housing loan book to Rs 5,000 crore by FY25 and Rs 15,000 crore by FY27, we are expanding our network to 200 branches by FY25 and 500 branches across segments by FY27," Girish Kousgi, the managing director of PNB Housing Finance, told reporters here Tuesday.
“Affordable housing is the cornerstone of our growth strategy. We are committed to making home ownership more inclusive and accessible for all by leveraging innovative products and schemes, expanding our presence, and prioritising customer-centric solutions,” he added.
The lender has a network of over 300 branches now, primarily offering loans under the PM’s housing scheme.
The company also launched a special affordable housing loan scheme for women financial applicants and new brand mascot Roshni to offer customer-centric solutions.
PNB Housing made a foray into the affordable segment in the last quarter of FY23, and became one of the fastest growing ones with a loan book of Rs 1,000 crore within a year. Since then, it has charted solid growth registering an affordable housing loan book of Rs 1,790 crore in FY24, crossed Rs 2,000 crore in Q1FY25 and Rs 3,000 crore in October 2024.
The company has also widened its presence in the segment from 82 branches in FY23 to 160 branches in FY24, and plans to take it to 200 branches by end-FY25 and strengthen it further to 500 branches.
The company is also keen to beef up its non-housing portfolio to 30 percent of its retail product mix, enhancing its loan against property offerings with customer-friendly features such as flexible repayment options and increased loan limits to meet evolving financial needs.
Promoted by Punjab National Bank, PNB Housing was listed in November 2016 and offers retail loans and corporate loans.