Motilal Oswal has maintained its BUY rating on PNB Housing Finance with a target price of ₹1,250, citing the company's resilient operating performance and recent leadership developments that are expected to strengthen its growth trajectory.

Strong Operating Performance Amid Challenges

The housing finance company has demonstrated robust performance despite facing multiple headwinds including regional disruptions, intensified competition from banks, and net interest margin (NIM) pressure in a declining interest rate environment. The brokerage noted that PNBHF has successfully navigated these challenges while maintaining growth momentum and asset quality standards.

Leadership Transition Brings Stability

A key development highlighted by Motilal Oswal is the appointment of Mr. Ajai Shukla as Managing Director & CEO, following a brief period of leadership transition. Mr. Shukla brings significant experience from his previous role as Chief Business Officer-Retail at Tata Capital Housing Finance.

The brokerage believes this appointment will materially strengthen the company's execution capabilities and boost confidence in its ability to deliver on medium- to long-term growth guidance, particularly its strategic shift toward higher-yielding business segments.

Financial Projections and Valuation

Motilal Oswal has outlined strong growth projections for PNB Housing Finance over the coming years. The brokerage expects significant expansion in both loan portfolio and profitability metrics.

Attractive Valuation Opportunity

At the current valuation of 1.2x FY27 P/B, Motilal Oswal sees attractive upside potential for investors. The target price of ₹1,250 is based on 1.4x Dec'27E book value per share (BVPS), suggesting significant appreciation potential from current levels.

The brokerage's positive outlook is supported by the company's balanced operating performance relative to peers and its strategic positioning in higher-yielding business segments, which should drive sustainable growth and improved profitability metrics in the medium term.

PNB Housing Finance Limited has announced a Board of Directors meeting scheduled for January 21, 2026, to consider and approve the company's quarterly financial results. The meeting will focus on reviewing unaudited financial results for the quarter and nine months ended December 31, 2025.

Board Meeting Details

The company has formally notified stock exchanges about the upcoming board meeting through an official communication dated January 13, 2026. The meeting is being convened pursuant to Regulation 29, 50, and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Trading Window Closure

In accordance with insider trading regulations, PNB Housing Finance Limited has implemented a trading window closure for designated persons and their immediate relatives. The closure became effective from January 1, 2026, and will continue until 48 hours after the declaration of the financial results.

Regulatory Compliance

The announcement demonstrates the company's adherence to regulatory requirements and transparency standards. The communication was signed by Veena G Kamath, Company Secretary, and has been made available on the company's official website at www.pnbhousing.com . The formal notification ensures compliance with stock exchange listing requirements and keeps stakeholders informed about material developments.

The company has communicated this information to both BSE Limited and National Stock Exchange of India Limited, maintaining transparency with all relevant regulatory bodies and market participants.