PHPNB Housing Finance540173Earnings call transcript

Q2 FY27 earnings call: CRISIL upgrade to AAA, disbursements up 60%, GNPA improves to 0.91%

Transcript of the Q2 and H1 FY27 earnings call held on October 28, 2026.

By ScoutQuest · Mon 2 Nov 2026, 4:07 PM IST · 2 min read

Overall Disbursements

INR 9,609 crores, up 60% YoY

Retail Disbursements

all-time high of INR 9,250 crores

Loan Book

INR 95,079 crores as on 30 September 2026

GNPA / Spread

GNPA improved to 0.91%; spread improved to 2.43%

Credit Rating

CRISIL upgraded the company to AAA with a stable outlook

Rating upgrade

CRISIL has upgraded the company's credit rating to AAA with a stable outlook. Management said the company is now rated AAA by all four leading domestic rating agencies — CRISIL, ICRA, CARE Rating and India Rating — and linked the upgrade to balance sheet strength, risk management and asset quality.

Q2 FY27 business performance

• Overall disbursements grew 60% year-on-year to INR 9,609 crores.
• Retail disbursements reached an all-time high of INR 9,250 crores.
• The overall loan book stood at INR 95,079 crores as on 30 September 2026, which management described as growth in line with its guidance.
• The affordable, emerging market and prime segments each reported higher disbursements, with the affordable segment described as having seen a strong revival after strategic initiatives over the past few quarters.
• Management said affordable and emerging markets are the key growth engines of the retail book.

Asset quality and margins

• Gross non-performing assets (GNPA) improved to 0.91%.
• Spread improved to 2.43%.
• Recoveries from the written-off pool were INR 75 crores in Q2 FY27, which management said resulted in a negative credit cost for the quarter and a reduction in the retail written-off pool.
• Management said return on assets and return on equity both improved during the quarter.

New business initiatives

• Micro Housing was launched during Q2 FY27 and disbursements have already begun under it.
• Emerging Developer Finance and sourcing of affordable loans through selected Prime and Emerging branches are the other initiatives highlighted.
• A pool buyout was completed during H1 FY27, which management said supports growth in earning assets.
• These initiatives are expected to help scale up the loan book, support portfolio yield and maintain portfolio quality.

Affordable housing outreach

• The company ran a PMAY awareness campaign across several states and opened PMAY nodal branches in Siliguri and Kanpur.
• Management said it intends to scale this through its branch network of more than 400 branches.

Technology

• Proofs of concept were completed in voice AI for collections calling, AI-powered policy and knowledge assistance, intelligent document processing, and agentic AI for employee hiring.
• The next couple of quarters will focus on moving these proofs of concept into production deployment.

Guidance and outlook

• Management said loan book growth is in line with its guidance.
• It remains on track to raise the combined contribution of the affordable and emerging market segments to 45% of the overall retail portfolio by the end of FY27.
• It expects the new initiatives to accelerate scale-up of the loan book while enhancing portfolio yield.

What this means for retail investors

• The transcript records what management said on the call about the unaudited Q2 and H1 FY27 results, so the figures above are management's own commentary.
• The call included forward-looking statements, which the company noted involve risks and uncertainties that may cause actual results to differ.

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