The Company

PNB Housing Finance Limited (PNBHFL) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988. PNBHFL is a subsidiary of Punjab National Bank (PNB).

On December 9, 2009, it entered into a strategic financial partnership with Destimoney Enterprises Private Limited (DEPL). With over two decades of specialised experience in housing finance, PNBHFL has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly.

Credit Rating of PNBHFL

Bank Loans Long Term Rating CRISIL AA+ (Stable Outlook)
Bonds CRISIL AA+ (Stable Outlook) & ICRA AA+ (Stable Outlook)
Commercial Paper Programme CRISIL A1+
Fixed Deposits Programme CRISIL FAAA (Stable Outlook)

PNBHFL provides housing loans to individuals and corporate bodies for construction, purchase, repair and upgradation of houses. It also provides loans for commercial space, loan against property and loan for purchase of residential plots.

Vision

Under Construction

Board of Directors

Thriving on excellence and uncompromising service standards, PNBHFL is a professionally managed organization with a board of directors consisting of distinguished personalities and professionals who have excelled in various fields including finance, taxation, insurance and statutory bodies. The board drives the vision of the company by its expertise in strategy formulation, policy and control, designed to deliver increasing value to stakeholders.

Directors
Photo Mr. K. R. Kamath (Chairman)
Mr. K. R. Kamath is a brilliant academician. He started his career in 1977 as an officer trainee at Corporation Bank. He held various significant positions, such as Head of Collection and Payment Services (CAPS), which became a flagship product of Corporation Bank. He was also responsible for bringing about wing to wing technology changes for the Bank – encompassing complete automation of the branches, migration of business to core banking solution, positioning of 900 strong ATM network through extensive data network, introduction of internet banking and implementation of information security system.
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Mr. Kamath was appointed Executive Director of Bank of India in May 2006. He was appointed Chairman and Managing Director of Allahabad Bank in August 2008. He brought visible transformation in performance of Allahabad Bank by mobilizing staff members from grass root level. He also fast tracked technology upgradation and focused on improving the efficiency of the Bank by setting up an internal business process re-engineering team.

Currently, he is the CMD of Punjab National Bank, Chairman of PNB Gilts Ltd., PNB International Ltd. and PNB Investment Services Ltd. He is also on the Board of Oriental Insurance Company Ltd., ECGC Ltd. and India Infrastructure Finance Co. Ltd.
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Mr. Tejinder Singh Laschar
Mr. Tejinder Singh Laschar holds a Master's Degree in Economics, a Master's Degree in Commerce and a Post Graduate Diploma Degree in Development Policy from University of Glasgow, UK. He has also attended numerous professional courses in India and abroad, including at IMF Washington DC and Singapore.
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He joined Indian Economic Service in 1973 and superannuated as the Senior Economic Advisor, heading the Office of Economic Adviser in the Ministry of Commerce and Industry, GOI, on 30th September, 2007.

During his career, he has held several important posts- Economic Advisor in the Ministry of Chemicals and Fertilizers; Member Secretary of Working Group on Fertilizer, 10th Five Year Plan; Additional Economic Advisor, Ministry of Finance; Director, Ministry of Home Affairs. He has worked in the Banking Division of the Ministry of Finance and also in India Investment Centre. He was a full time Consultant in Institute of Public Enterprises, Osmania University, Hyderabad.

He has also been on the Board of numerous organisations, like the CMD of Hindustan Fertilizers Corporation Ltd., Director, GIC Housing Finance Ltd., PNB Principal Insurance Advisory Company, Fertilizer Corporation of India, National Fertilizers Ltd., Fertilizers and Chemicals, Travancore, Industrial Finance Corporation of India, Corporation Bank, State Bank of Indore, State Bank of Bikaner and Jaipur, Deposit Insurance and Credit Guarantee Corporation of RBI. He was also the trustee of GIC Mutual Fund for several years. He specialises in financial restructuring, capital and debt markets, foreign direct investment and macro economic issues.

At PNBHFL, he is the Chairman of the Audit Committee and Member of the Business Process Committee of the Board.
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Mr. P. K. Gupta
Mr. P. K. Gupta holds a Master's Degree in Commerce and Bachelor's Degree in Law from the University of Agra. He started his banking career with PNB in 1971 as a probationary officer and rose to the rank of General Manager. He worked in the areas of branch banking, credit, planning and development, credit policy, investments, merchant banking, leasing and international banking. He also lead PNB's restructuring project with Boston Consulting Group as a consulting partner.
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Mr. Gupta was appointed as the Executive Director of Corporation Bank in 2001. He was elevated to the post of Chairman & Managing Director of National Housing Bank. As the CMD of NHB, he was responsible for development of healthy housing finance system on sound lines through promotional, regulatory and supportive mechanisms.

He was appointed as the Chairman & Managing Director of United Bank of India in May 2005. In addition to this, he also continued as the CMD of NHB. He took full charge of UBI from September 2005 and remained its CMD till 30th September, 2008. During his tenure at UBI, he brought a complete turnaround of its performance. The Bank, swiftly switched over to core banking solution (CBS) and the branch network got expanded from 1310 to 1428.

He had also served as the Managing Director of PNB Capital Services Ltd. and Director of PNB Gilts Ltd. and PNB Asset Management Co. Ltd. (subsidiaries of PNB). Presently, he is on the Board of Advance Enzymes technology Ltd., MSP Steel and Power Ltd., Baroda Pioneer Asset management Co. Ltd. and U V Asset Reconstruction Co. Ltd.

At PNBHFL, he is also a Member of the Audit Committee and the Appointments Committee of the Board.
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Mr. S. K. Jain
Mr. S. K. Jain holds a Master's Degree in Arts from the University of Punjab. He is also an MBA from the University of Indiana, USA (Dean's List) and a Fulbright scholar. He was an elected member of Beta Gamma Society.

He retired from Citibank in June 2000 after working for more than 31 years. He held the post of Senior Credit Officer for more than 18 years.
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Apart from his tenure in India, he also spent many years working with Citibank in Hong Kong, Taiwan, Philippines, Thailand and Canada. As a division Credit Officer for North Asia (Philippines, HK, Taiwan, Korea, China), he managed the portfolio under high level of volatility and uncertain macro-economic scenario which resulted in significant reduction in loan losses.

He strengthened the credit infrastructure for Consumer Bank in India, including the scoring model for large volume asset products. He developed training courses to enhance understanding of risk management for relationship and operations managers.

He was the Division Credit Officer for Canada including the real estate portfolio. He developed a leading indicator framework for real estate across Canada, which was key component of the target market. He was actively involved in credit automation to enhance the use of technology in credit management process. In his last assignment in India (1993 till retirement), he played a lead role in establishing the credit discipline and process for Consumer Bank.

Currently, he is on the Board of Can Rebeco and R.S. Software India Ltd.

At PNBHFL, he is the Chairman of Credit Committee of the Board.
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Mr. Vivek Vig
Mr. Vivek Vig did his Post Graduation from the Indian Institute of Management (Bangalore). Since then he has gained over 25 years of Retail Banking experience in India and different parts of the globe.

From IIM campus he joined Citibank N.A., India in 1986. There he served in various capacities with the Consumer Bank till 1992.
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Between 1992 and 2004, he held senior business positions overseas in Citibank as Director (Marketing) - Samba (Citibank), Saudi Arabia and Business Head - Poland & Taiwan. After this, he was appointed as the Country Head (Consumer) of Citibank, Turkey and Saudi Arabia.

After Citibank, he joined Centurion Bank of Punjab in 2004, as the Country Head (Retail Bank), where the Bank acquired Bank of Punjab and Lord Krishna Bank before its merger with HDFC Bank Ltd. in 2008. Later, he joined Destimoney Group of Companies as the Managing Director & Group CEO.

At PNBHFL, he is a Member of Credit Committee and Business Process Committee of the Board.
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Mr. Anand Dorairaj
Mr. Anand Dorairaj holds a Bachelor's Degree in Commerce from the University of Bombay. He is also a Chartered Accountant from ICAI.

He worked at Citigroup International in New York as a Senior Emerging Markets Specialist with extensive experience in Mergers & Acquisitions. While in New York, he focused his efforts on enhancing Citigroup’s financial services market share in select priority countries around the world. 
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Prior to this assignment, he worked in Hong Kong as Senior Investment Banking Professional and in India for thirteen years on a number of restructuring, recapitalization, equity & debt placements and strategic M&A assignments. He also served as the Head of M&A - Citigroup, India, for five years.

He joined New Silk Route Advisors when it was incepted in February 2007, and focused on private equity opportunities in the Indian sub-continent out of their Mumbai office. In the last several years, he has also been an integral member of a taskforce of prominent Non-Resident Indians in the US and working closely with the Prime Minister of India and his team to enhance the flow of foreign direct investments in India. He is also is an active member of the US India Business Council (USIBC) and Tie Tri-state in New York. 

At PNBHFL, he is a member of Audit Committee and Appointments Committee of the Board.
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Mr. Sanjaya Gupta (Managing Director)
Mr. Sanjaya Gupta holds a Post Graduate Degree in Business Management. He is also a Fellow of the Royal Institution of Chartered Surveyors.

His professional career started with HDFC Ltd. in 1987 as a management trainee. He worked there for 16 years in various geographies at a variety of strategic and functional positions. His last assignment with HDFC was as the Head of Business Development & Distribution.
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Thereafter he worked with ABN AMRO Bank NV as India Business Head, Retail Mortgages and later got elevated as the Mortgage Operations Head for North America and other geographies. His last assignment before PNBHFL was with United Guarantee (AIG Inc.) as the Country Head for India, a joint venture of NHB, ABD and IFC Washington DC.

Throughout his career spanning over 25 years, he has significantly contributed to mortgages and allied risk management products. He has a distinction of establishing international housing finance branch operations for HDFC Ltd., which is also the industry's first. He is often consulted by the policy makers on key changes in the sector.

He is an ADB nominated Director on the Board of HDFC Plc., Maldives, and Director of India Shelter Finance Corporation Ltd.
Photo Shri S S Bhatia (Presently, General Manager of Punjab National Bank.)
Shri S S Bhatia was born on 1st April 1955. He is post graduate and MBA (Finance). He joined PNB as Management Trainee in 1977. During his 35 years career with PNB, he has handled many important assignments such as heading large branches, SRM and later on DGM, Amritsar, DGM (Stressed Assets Management Division), Circle Head (Meerut), Field General Manager (Ludhiana) and now General Manager, RAD and MSME, HO.
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In PNB Housing he is member of Credit Committee and marketing committee of the Board.
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Dr. Ram S. Sangapure
Dr. Ram S. Sangapure is Executive Director of Punjab National Bank. He has done Ph.D. in Economics from University of Sofia, a European University. He had started his career in banking industry with IDBI Bank. After five years in IDBI Bank, he had joined Central Bank of India as Assistant General Manager (Chief Economist). After elevation as Deputy General Manager, he was posted as Zonal Manager, Muzaffarpur.
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He had also headed Mumbai Zone - the largest zone of the bank. He was also Chairman of the largest Regional Rural Bank in India viz. Uttar Bihar Gramin Bank. Prior to taking over as Executive Director of Punjab National Bank, Dr. Sangapure was General Manager in Central Bank of India where he served in various capacities.

Corporate Governance

Under Construction

Leadership Team

Photo Business Head
Mr. Shaji Varghese has more than 17 years of experience in retail assets, liabilities and wealth management. He has been an integral contributor in setting up large successful businesses across geographies and managing high performance teams. His forte is retail distribution and managing sustainable and profitable business. Prior to this assignment, Shaji was the Senior Vice President and Business Head, Secured Assets at Indusind Bank. He has also handled assignments with leading financial institutions and banks like ABN AMRO Bank NV, ICICI Bank Ltd. and Transamerica Apple Distribution Finance Ltd. He holds Bachelor’s degree in Law (LLB) and Master’s degree in Management Science (MMS).
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Chief Risk Officer
Mr. Ajay Gupta holds a Bachelor’s Degree in Commerce from University of Delhi. He is also a Chartered Accountant from ICAI.

An accomplished risk management professional with over 22 years of rich experience in credit cycle management across a diverse product group comprising SME Loans, Loan Against Property, Home Loans, Builder Finance, Construction Equipment Loans, Commercial Vehicle Loans, Business/ Personal Loans and Auto Lease. His areas of expertise include Credit Policy & Underwriting, Collection Management, Fraud Control, Risk Analytics & Portfolio Management.

Prior to PNBHFL, Ajay has worked with Religare Finvest Ltd. as Director and CRO, India Bulls Financial Services as Risk Head, and has also served  GE Money,  ANZ Grindlays Bank & Standard Chartered Bank in various roles.
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Chief Operations & Technology Officer
Mr. Nitant Desai is an astute professional with more than 25 years of varied and relevant experience in retail finance with leading banks and financial institutions in India and the Middle East. He has vast knowledge in operations management, client servicing, quality & compliance and business process re-engineering.

Prior to PNBHFL, he has worked with reputed organisations like HDFC Life Insurance Co. Ltd., Union National Bank - Abu Dhabi, ICICI Bank Ltd., GE Countrywide, TATA Finance Ltd. and HDFC Ltd.
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Company Secretary & Chief Finance
Mr. Sanjay Jain
is a professional with more than 23 years of experience as Company Secretary, in Corporate finance, Regulatory compliances, Legal issues and Internal audit. Prior to joining PNB Housing in 1995, he has worked for seven years with the Ansal Group.
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Chief People Officer
Mr. Anshul Bhargava
is a dynamic and result oriented HR professional with over 23 years of experience. He has excellent understanding and domain expertise in variety of spheres relating to human capital. He has keen interest in mentoring and training, performance management and cadre building. His last assignment was with Asset Reconstruction Company (India) Ltd. He has also served the Indian Army.

Financial Highlights

Having over 2 decades of experience in housing finance along with a strong & stable financial foothold, PNBHFL takes pride in being one of the largest public sector housing finance companies of India. Transparency and integrity being the pillars of its financial strength, PNBHFL believes in sharing information with all its partners in progress which include shareholders, stakeholders, customers, employees, vendors, policy planners and regulators.

pdf Annual Report 2013-14
pdf Financial Results 2013-14
pdf Annual Report 2012-13
pdf Financial Results 2012-13
pdf Annual Report 2011-12
pdf Financial Results 2011-12
pdf Shareholding Pattern

Core Values

People First

  • Our people are our only assets.
  • We grow talent, work inclusively with humility, continuously learn from our experience and past.
  • We empower our people.
  • We enable high performance, recognize and reward only performance.
  • We are merit driven, fair, supportive, respect each other, believe in equal opportunity.
  • We give responsibility and demand accountability.
  • We work in teams and take complete ownership of our doings. Team spirit is critical to us.
  • How can I help others ? Is our Team motto.
  • We foster spirit of belongingness. We are a great place to work.

Customer-Centric

  • Where customers feel at home, build long term relationship – 'Ghar Ki Baat'.
  • We hand hold customers over the entire relationship.
  • We have a deep understanding of the real estate developers expectations – and give solutions.
  • Our business partners are our customers too.
  • We safeguard customers' interest, give responsible advice.
  • We passionately create magic for external and internal customers. We exceed expectations.
  • We are empathetic and pro-active, We deliver” Atithi Deva Bhava”.
  • We invert the pyramid and serve the front line.
  • Our satisfied customers are our brand ambassadors.

Ethical Standards

  • We make no compromise in our professional ethics - 'We do the right things, We do things right.
  • We are transparent and compliant with the law of the land.
  • We encourage and respond to open communication.
  • We are conservative and take prudent business risk.
  • We are fearless. We raise timely alarm.
  • We manage meaningful, relevant and engaging CSR.
  • We contribute to nation's well-being.

 

Awards & Recognitions

PNB HFL honoured on 'Successful Completion of 25 years of Service' - 24th July 2014

PNB HFL has been felicitated on 'Successful Completion of 25 years of Service' during the event 'India's Top PSUs – Transforming India, 2014' organised by Dun & Bradstreet. The award was felicitated by former Finance Minister of India, Mr. Yashwant Sinha.

PNB HFL awarded for Excellence in Talent Management - 4th July 2014

PNB HFL has been awarded the “National Award for Excellence in Talent Management 2014” during the event -Thomas Assessments National Award for Excellence in Talent Management

PNB HFL awarded for 'Significant Contribution to Housing' by HUDCO - 25th April 2014

PNB HFL has been awarded for its 'Significant Contribution to Housing' for the year 2013-14 on the occasion of 44th Annual Day Celebrations of HUDCO.

PNB HFL bagged another award, 3rd time in a row for “Outstanding contribution to Real Estate - 19th Nov 2013

PNB HFL awarded in the category of “Outstanding Contribution to Real Estate Sector for Growth in Home Loans” during the 5th Real Estate Awards organised by Franchise India

PNB HFL recognised for Best Change Management Intervention - 2nd July 2013

PNB HFL Change Story has been awarded “Special Commendation Award” during Best Change Interventions of Asia Seminar & Awards - conferred by the “Learning & Organisational Development Roundtable”.

PNB HFL in the Exclusive club of 12 best change managed companies - 2013

PNB HFL Change intervention story got featured in Bloomsbury India's latest edition christened SWITCH.

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