by Suman Gupta
• Reaffirms its commitment to ‘Housing for All’ vision with PMAY-U 2.0
• To have 200 Roshni branches and loan book of close to ₹5,000 crores by 31st March 2025
• Launches a special affordable housing loan scheme for women financial applicants
• Unveils a new brand mascot Roshni to offer customer-centric solutions
Mumbai, 3rd December 2024: PNB Housing Finance Limited, India’s third-largest housing finance company, unveiled its strategic growth plans for the affordable housing segment. The Company aims to expand its distribution network by opening 40 new branches and achieving a strong loan book of close to ₹5,000 crores by the end of FY25, and ₹15,000 crores by FY27. It also reaffirmed its alignment with the Government’s ‘Housing for All’ vision and PMAY 2.0 initiative, to empower millions of Indians with accessible home ownership and tailored housing finance solutions.
PNB Housing Finance forayed into this segment in the last quarter of FY23, and became one of the fastest growing companies to cross ₹1,000 crores loan book within a year of its launch. It has charted a solid growth journey since then, registering an affordable housing loan book of ₹1,790 crores at the end of FY24, crossing ₹2,000 crores in Q1 FY25 and ₹3,000 crores in October 2024. The Company 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 the end of FY25. It also aims to strengthen its footprint in the country with 500 branches across segments (Prime, Emerging markets, and Affordable segment) by FY27, majorly focusing on the high-yielding Tier 2 and Tier 3 markets.
The Company is also keen to beef up its non-housing portfolio to 30% of its retail product mix, enhancing its Loan Against Property (LAP) offerings with customer-friendly features such as flexible repayment options and increased loan limits to meet evolving financial needs. It has set up a dedicated channel with specialized sales and underwriting teams for a focused approach. Towards the objective of bringing the underserved Bharat under the purview of financial inclusion, it has extended its LAP offerings to the affordable segment with a new product ‘Micro LAP’, thus enabling them to achieve greater financial independence.
In an impactful symbolic gesture reflecting its renewed mission, PNB Housing Finance launched its first-ever brand mascot, Roshni, to represent hope and positivity, thus playing a pivotal role in driving engagement and awareness through its marketing campaigns and community outreach programs.
On this occasion, the Company is launching a special scheme for women financial applicants, offering special fee & rate concessions on affordable housing loans. With ~21% of its current financial applicants being women, it aims to strengthen this scheme and encourage more women to attain financial independence and embark on their home buying journey.
Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, stated, “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 & schemes, expanding our presence, and prioritising customer-centric solutions. Our strong network of 300+ branches is equipped to offer the benefits of PMAY-U 2.0 to eligible applicants, and we invite them to fulfil their home ownership journey with us. We are also excited to introduce our new brand mascot Roshni to support our ambitious growth plans and make our affordable housing segment a beacon of hope for aspiring home buyers.”
Roshni Home Loans represents PNB Housing Finance’s steadfast focus on financial inclusion by offering loans ranging from ₹5-50 lacs for home buying, home expansion & renovation, plot purchases, and loans against property. With a rich legacy of close to four decades, innovative offerings, robust service delivery models, and an expanding footprint, the company continues to redefine the landscape of housing finance in India.
About PNB Housing Finance Limited PNB Housing Finance Limited (NSE: PNBHOUSING, BSE: 540173) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company was listed on the Indian stock exchanges on 07 November 2016. The Company’s asset base comprises retail loans and corporate loans. The retail business focuses on organized mass housing segment financing for the acquisition or construction of houses. In addition, it also provides loans against properties and loans for the purchase & construction of non-residential premises. Corporate loans are mainly to developers for the construction of residential/commercial properties, corporate term loans and lease rental discounting. PNB Housing Finance is a deposit-taking Housing Finance Company.
