PNB Housing Finance aims expansion in affordable housing, 60 more branches

PNB Housing Finance, the third largest housing finance company in India, is targeting an increase in its branches dedicated to affordable housing to 160 by the end of this financial year and a 33 per cent increase in disbursement under the segment to Rs 1,000 crore during the current quarter, from Rs 750 crore by the end of the July to September quarter of the current fiscal.

PNB Housing Finance on Monday inaugurated its first all-women branch in the country. This exclusive, all-women branch located in Tambaram, Tamil Nadu, also marked the company’s 100th affordable-focused branch.

With this inauguration, PNB Housing Finance has strengthened its commitment towards gender diversity and women's empowerment. By establishing an all-women branch, it aims to create a unique and supportive environment where women can flourish in both professional and personal spheres of life and contribute to the economic progress of the nation, it said.

This is also the company’s 100th branch in the country dedicated to offering affordable housing finance solutions to customers through its affordable segment scheme, Roshni. The initiative aligns seamlessly with its objective of business expansion and enhancing the accessibility of its products and services for a wider spectrum of customers.

“As a progressive housing finance company, we recognise the importance of gender diversity and inclusivity in the workplace. Our first-ever all-women branch will help foster an environment where women can thrive, build their skills, and contribute to the success of the organisation. Further, this being our 100th branch for Roshni home loans, reaffirms our dedication to offering affordable and accessible financing solutions, thereby fulfilling the homeownership dreams of a diverse customer base,” said Girish Kousgi, Managing Director and Chief Executive Officer, PNB Housing Finance.

“We are quite optimistic about the growth opportunities in the affordable segment and are looking forward to adding 60 more Roshni branches as a strategic step in that direction. Tamil Nadu is an attractive market for us and we will continue to solidify our presence in the state with our offerings,” he added. According to him, South India is expected to contribute more than 40 per cent of the share in the affordable housing segment in the longer run.

“In September, 9 per cent of our business share was coming from affordable housing. This is expected to be 12 per cent by March and 20 per cent by next year,” he added. It has an average ticket size of Rs 15 lakh and is poised to substantially augment the affordable segment portfolio, propelled by rapid growth in disbursements.

Along with the focus on the affordable segment, the company also plans to open an additional 27 branches for its ‘Prime’ retail loans offering, taking the Prime branches total to 138 by the end of this Financial Year. The expansion in the retail segment, including affordable and prime, is expected to take the company-wide locations count to 298 by the end of this Financial Year.