PNB Housing Finance shares had a turbulent session on Wednesday, initially rallying over 4% to ₹935 on the BSE before sliding more than 3% on profit booking. The movement came on the heels of strong Q3FY25 results, highlighting the company’s growth momentum. Net profit soared 43% year-on-year to ₹483 crore, driven by a 17% rise in net interest income (NII) to ₹695.7 crore. Retail NII grew 17.4% YoY, while net interest margins edged up to 3.70% from 3.68% QoQ. Disbursements also climbed significantly, rising 29.9% YoY to ₹5,380 crore, fueled by robust growth in the affordable housing segment, which saw disbursement growth of 127% YoY to ₹920 crore. Asset quality showed marked improvement, with gross NPAs falling to 1.19%, compared to 1.73% a year ago. Cost of borrowing remained steady at 7.83%, reflecting prudent financial management. The company also secured ₹5,000 crore in NHB refinance sanctions and a $100 million ECB sanction during the quarter, bolstering liquidity. Managing Director & CEO Girish Kousgi expressed optimism, highlighting the company’s focus on growth in the retail and affordable housing segments. PNB Housing Finance has also delivered impressive long-term returns, gaining 100% over two years and 130% in three years. Brokerage JM Financial maintained a bullish outlook, citing strong growth prospects, branch expansions, and healthy asset quality. It values the stock at 1.4x FY27E BV, with a target price of ₹1,200.