ESG Focus

Creating
sustainable value

Macroeconomic conditions continue to provide a generally supportive operating environment, with activity observed across sectors such as real estate and housing. Within this context, we continue to conduct our housing finance business in accordance with applicable laws, regulations, and supervisory expectations.

Evolving regulatory requirements and increasing stakeholder focus on sustainability-related matters have heightened the relevance of Environmental, Social and Governance (ESG) considerations within the financial services sector. In response, we have sought to reinforce our internal focus, strengthen governance oversight mechanisms, and monitor relevant national and international developments related to sustainability-linked practices and disclosures.

More than a framework, ESG is the lens through which we make decisions, build relationships, and create value that endures.
Ajai Kumar Shukla, MD and CEO

Our ESG journey

FY23
FY24

Laying the groundwork for ESG excellence and anchoring ESG at the core.

Strengthened ESG governance by formalising ESG oversight and establishing central ESG ownership.

FY26 and beyond
FY25

Framework created to translate ESG intent into action through materiality and benchmarking, structured disclosures around the nine principles of the BRSR reporting framework.

Standalone ESG policy to guide strategic direction and enable clear focus and accountability and commenced disclosures.

Enhanced alignment with global frameworks, including GRI adoption of global reporting frameworks and initial assessment of financed emissions using Partnership for Carbon Accounting Financials (PCAF).

Formulation of a climate policy alongside strengthened GHG accounting, advancing climate governance through lifecycle assessment, financed emissions inventory and advanced climate disclosures through expanded PCAF application and national benchmarks.

House of ESG excellence

Delivering growth anchored in ESG

Non-fossil based cumulative capacity (KWp)
0
21
120
140
160
FY22FY23FY24FY25FY26
Carbon reduction potential (In tonnes of CO2e)
0
15
90
105
120
FY22FY23FY24FY25FY26
Tree plantation (Cumulative no. of trees)
8,300
8,300
14,300
35,100
1,51,300
FY22FY23FY24FY25FY26
Carbon intensity per crore income (Scope 1 & 2 emissions — Tonnes of CO2)
0.25
0.33
0.39
0.61
0.49
FY22FY23FY24FY25FY26
Female employees (Number)
233
258
324
379
474
FY22FY23FY24FY25FY26
Turnover rate (%)
31.58
24.7
17.27
15.91
16.59
FY22FY23FY24FY25FY26

The ‘Five Capitals’ powering our impact

How PNB Housing Finance is poised to address the gap

Financial capital

A strong equity, debt, and borrowing mix provides the robust balance sheet needed to fund large-scale lending.

Intellectual capital

Robust tech platforms including Infinity accelerate credit access, while full digitalisation ensures a seamless onboarding journey.

Social capital

CSR initiatives support migrant construction workers’ communities and advance women’s empowerment and sustainability initiatives.

Service capital

A strong network of 392 branches expands our reach into underserved Tier 2 and Tier 3 cities, while digitalisation accelerates online channel growth.

Human capital

Experienced teams understand ground-level realities, driving deeper customer engagement.

Strategic priorities: Pillars driving purposeful growth

Retail loan book growth

Focus on increasing retail assets and boosting disbursements across all loan categories.

Emerging India

Deepen our presence in Tier 2 and Tier 3 cities and beyond to support the growing housing demand in Emerging Markets and Affordable Housing segments.

Asset quality

Maintain best in class asset quality through robust underwriting and continuous monitoring. Focus will be on improving profitability as well as RoA and RoE.

Diversified borrowing mix

Maintain adequate capital and well diversified borrowing mix to fund our business growth.

Digital drive

Driving process improvements across the loan lifecycle through digital interventions, while simultaneously enhancing productivity.

Value delivered

Delivering impact across stakeholders

Investors

Consistent financial performance, highlighted by improved RoA and RoE, alongside strong credit ratings.

Employees

Fostering a purpose-led culture driven by equal opportunity, performance-based recognition, and distinct career growth.

Regulators

Ensuring a strict culture of compliance, strong risk management, and zero policy violations through our robust governance framework.

Customers

Turning homeownership into a reality by offering a seamless onboarding journey and faster turnaround times.

Community

Creating meaningful social impact by empowering marginalised families to access stable, dignified housing.

ESG Scorecard

Our approach to ESG reflects a deliberate and embedded focus to responsible business conduct as a core driver of our long-term growth journey. Recognition from credible global and national sustainability/ESG platforms signals our emphasis on strengthening governance practices, managing environmental and social aspects, with evolving best practices. These independent evaluations underscore our intent to enhance resilience, reinforce transparency, and create enduring value, positioning ESG as a key pillar supporting sustainable performance across decades to come.

Global level

S&P Global

Corporate Sustainability Assessment

ESG Score

43

With 100 being the best score

As of 9th February, 2026, PNB Housing Finance ranked in the 80 percentile in the Diversified Financial Services and Capital Markets industry in the S&P Global Corporate Sustainability Assessment (S&P Global CSA).

Bloomberg

ESG

ESG Score:

3.44

With 10 being the best score

Better than 92% of companies in the Mortgage Finance peer group.

Scores last calculated:
24th March, 2026

National level

NSE

Sustainability Ratings & Analytics

Secured ESG rating of

72/100

ESG rating category:

Leader

Last updated:
17th February, 2026

Resurgent

ESG

Secured ESG rating of

79.2/100

ESG rating grade:

A+

Last updated:
16th April, 2026

Disclaimer - ESG ratings or scores are not intended to predict a company’s future performance or serve as the sole basis for investment decisions.
ESG ratings / scores do not constitute recommendations to buy, hold or sell any securities.

Charting the path ahead

The Company’s ESG approach is underpinned by ‘3A’ inspired framework that collectively drive alignment, advancement, and accountability across its ESG journey.

Anchoring ESG capabilities for structured progress and disclosures

The Company’s ESG approach is guided by a continued effort to enhance the clarity and consistency of its ESG related reporting. In this context, the Company intends to draw reference, where appropriate, from globally recognised sustainability frameworks such as the Global Reporting Initiative (GRI). The Company continues to prepare its disclosures in accordance with the Business Responsibility and Sustainability Reporting (BRSR) framework prescribed by the Securities and Exchange Board of India (SEBI).

Accelerated engagement with external ESG benchmarks

In addition, the Company may evaluate participation, from time to time, in relevant external assessment and benchmarking platforms, including the S&P Corporate Sustainability Assessment, as part of its broader ESG approach.

Adoption of global climate and emissions methodologies

The Company also continues to reference globally accepted protocols and standards, such as the Greenhouse Gas (GHG) Protocol and the Partnership for Carbon Accounting Financials (PCAF), to strengthen internal comprehension of emissions related concepts and measurement approaches.

Advancing people practices and governance excellence

Alongside environmental considerations, the Company continues to focus on people related practices that support capability development, inclusion, and organisational continuity. In parallel, emphasis remains on maintaining a robust governance framework to guide oversight, decision making, and ethical conduct, in line with applicable regulatory requirements and internal policies.

Adaptive and evolving ESG journey

The Company recognises that its ESG material topics, and related disclosures may continue to evolve in response to changes in regulatory requirements, stakeholder expectations, data availability, and business requirements. Accordingly, the Company retains the flexibility to review and update its forward looking statements and ESG & sustainability approach, as appropriate, to remain aligned with emerging standards and recognised good practices.