PNB Profit Jumps 12.8% as Urban Company Plans ₹2,500 Crore Raise

PNB net profit rises 12.8% to ₹5,532 crore

Punjab National Bank reported a net profit of ₹5,532 crore for the second quarter of the 2026-27 financial year, compared to ₹4,904 crore in the same period last year. Net interest income reached ₹11,601 crore, marking a 10.8% increase from ₹10,469 crore. Operating profit rose 4.2% to ₹7,532 crore from ₹7,227 crore.

The bank's net interest margin increased 8 basis points to 2.58% from 2.50% quarter-on-quarter. Gross non-performing assets improved to 2.55% from 2.78% quarter-on-quarter, while net non-performing assets improved to 0.25% from 0.28%. Provisions stood at ₹97 crore, down from ₹643 crore year-on-year and ₹541 crore quarter-on-quarter.

Fresh slippage totalled ₹2,233 crore, compared to ₹1,812 crore year-on-year and ₹1,996 crore quarter-on-quarter. The capital adequacy ratio was 17.95% as of September 30, 2026.

Urban Company revenue grows 41% as board approves ₹2,500 crore raise

Urban Company reported revenue from operations of ₹537 crore for the quarter ended September 30, 2026, a 41% increase year-on-year. Urban Company reported a net loss of ₹182 crore for the second quarter of the 2026-27 financial year, compared to a loss of ₹59 crore in the same period last year. Total expenses rose 61% to ₹745.7 crore from ₹462 crore.

The EBITDA loss widened to ₹188 crore from ₹68.7 crore. The board approved a capital raise of up to ₹2,500 crore, subject to shareholder approval. The company held ₹1,901 crore in cash and treasury investments as of September 30, 2026.

Bajaj Housing Finance AUM expands 25% to ₹1.58 lakh crore

Bajaj Housing Finance reported revenue of ₹3,052 crore for the second quarter, up 16.7% from ₹2,614 crore in the year-ago period. Assets under management grew 25% year-on-year to ₹1.58 lakh crore from ₹1.27 lakh crore. Prior to the announcement, Bajaj Housing Finance shares traded at ₹84.12 with a 0.37% gain.

Federal Bank and LTIMindtree announce Q2 financial outcomes

LTIMindtree reported a net profit of ₹1,398 crore for the second quarter, down 4.6% from ₹1,466 crore. Revenue for the company rose 1.7% to ₹11,808 crore from ₹11,608 crore. EBIT increased 2.2% to ₹1,839 crore from ₹1,799 crore, with the EBIT margin at 15.6% compared to 15.5%.

Federal Bank reported a net profit of ₹1,386 crore, a 45.1% increase from ₹955 crore. Federal Bank’s net interest income rose 26% to ₹3,153 crore from ₹2,495 crore. Federal Bank shares rose 1.52% to an intraday high of ₹340.10. At 1:35 pm, Federal Bank shares traded 1.45% higher at ₹339.40, while the BSE Sensex traded 0.54% higher at 74,709.

Urban Company segment performance and user growth

Urban Company delivered 15.1 million orders in the second quarter, a 103% year-on-year increase. Net transaction value grew 39% year-on-year to ₹1,432 crore. Annual transacting users grew 35% to nearly 10 million.

Adjusted EBITDA was ₹(144) crore, including a ₹(174) crore investment in InstaHelp. Excluding the InstaHelp investment, adjusted EBITDA stood at ₹30 crore, a 213% year-on-year increase. The core business generated ₹119 crore of adjusted EBITDA over the past nine months.

In the home services segment, net transaction value grew 26.3% to ₹963 crore, with adjusted EBITDA reaching ₹34 crore. Annual transacting users for home services grew 22.4% to 8.6 million. The international segment saw net transaction value increase 66% to ₹267 crore, with net revenue up 82% to ₹75 crore.

International margins expanded 190 basis points to 2.0% of net transaction value. The native segment reported a 35% increase in net transaction value to ₹132 crore, while net revenue rose 40% to ₹105 crore. Adjusted EBITDA loss in the native segment narrowed to 6.8% of net transaction value from 9.0% a year ago.

The board granted in-principle approval to explore residential air conditioners as a new category under the native segment. InstaHelp fulfilled 6.2 million orders, a 63% quarter-on-quarter increase, with net transaction value up 34% to ₹71 crore. The adjusted EBITDA loss per order for InstaHelp improved to ₹(279) from ₹(346) in the previous quarter.

HD Fire Protect IPO allotment scheduled for October 16

Ujjivan SFB and Punjab National Bank reported increased earnings in their second-quarter results. Other companies reported increased losses during the same reporting period. The allotment decision for the HD Fire Protect initial public offering is scheduled for today, October 16, 2026.