PNB Housing Finance Discloses Divergence in Asset Classification for FY2023

PNB Housing Finance Discloses Divergence in Asset Classification for FY2023​

PNB Housing Finance Ltd. (PNBHFL) announced on April 2, 2026, that it received communication from the National Housing Bank (NHB) concerning a divergence in asset classification and provisioning for the financial year ended March 31, 2023. The disclosure, advised for inclusion in the company’s balance sheet notes, relates to two corporate/project finance loan accounts.

According to the NHB’s assessment, the total gross non-performing assets (GNPA) increased by Rs. 933.58 crore, resulting in a total GNPA of Rs. 3204.94 crore as of March 31, 2023. This figure is higher than the Rs. 2271.36 crore reported in the company’s balance sheet.

The divergence stemmed from a commercial decision during FY2022-23 to reduce interest rates on the two loan accounts due to competitive reasons. These accounts were previously resolved/restructured and classified as standard, and were not in default at the time of the interest rate reduction.

PNB Housing Finance reported that one loan of Rs. 598.39 crore has been closed, and the outstanding on the other loan has decreased from Rs. 335.19 crore to Rs. 67.39 crore as of the current date, remaining regular throughout its tenure.

The company stated that there is currently no financial impact resulting from this divergence, and the threshold under SEBI’s Listing Obligations and Disclosure Requirements (LODR) regulations is not applicable. PNBHFL intends to include the necessary disclosures in its balance sheet for FY2025-26, as advised by the NHB, and has made the information available on its website at www.pnbhousing.com.

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