Motilal Oswal Recommends 'BUY' on PNB Housing Finance; Target Rs 1250

• Motilal Oswal has reiterated a 'BUY' rating for PNB Housing Finance with a target price of INR 1,250.
• The company shows resilient operating performance despite regional disruptions and increased bank competition.
• Leadership stability is enhanced with the appointment of Mr. Ajai Shukla as MD & CEO, expected to strengthen execution.
• Motilal Oswal projects a ~19%/15% CAGR in loans/PAT over FY26–28E and RoA/RoE of ~2.4%/~13.1% in FY28.
• The current valuation of 1.2x FY27 P/B offers attractive upside potential for investors.

Why It Matters: Motilal Oswal recommends buying PNB Housing Finance, citing strong performance, new leadership, and growth prospects.