Motilal Oswal is bullish on PNB Housing has recommended buy rating on the stock with a target price of Rs 1015 in its research report dated April 30, 2024.
The company delivered a strong performance, quite like Tata, but disclosures are quite unlike. Confidence seems high, which is reflected in the proposed (cash) 3Y incentive scheme for eligible staff.
PNB Housing CEO Girish Kousgi outlines plans for corporate business growth, cost of borrowing reduction, retail book growth, and affordable housing vertical expansion. Kousgi says: "We showed a growth of about 18.5% on disbursements and 14% on book. So, FY25, we are looking at book growth of 17% on retail. So, disbursement will be about 24-25%."
The government is set to introduce a housing scheme specifically designed for the middle class, facilitating their ability to purchase or construct their own homes.
According to the block deal data available with the BSE, Investment Opportunities V Pte Ltd offloaded more than 2.56 crore shares, amounting to a 9.88 per cent stake in PNB Housing Finance.