PNB Housing Finance Limited has announced the appointment of D. Surendran as an Additional Director in the capacity of Non-Executive Nominee Director, effective August 23, 2025. This strategic move, recommended by the Nomination and Remuneration Committee, brings a wealth of banking experience to the company's board.

Appointment Details

Surendran, nominated by Punjab National Bank (PNB), will serve a five-year term, subject to approval at the next general meeting or for three months from the appointment date, whichever comes first. This appointment aligns with PNB Housing Finance's commitment to strengthening its leadership with seasoned professionals.

Extensive Banking Experience

With an impressive 35-year career in the banking sector, Surendran brings valuable expertise to PNB Housing Finance. His journey in banking began with Canara Bank in 1990, where he progressed through various roles, showcasing his adaptability and leadership skills.

Current Roles and Responsibilities

Since March 2025, Surendran has been serving as an Executive Director of Punjab National Bank. His involvement extends to several key committees within PNB, including:

• Management Committee of the Board
• IT Strategy Committee of the Board
• Committee of Directors to Review Vigilance and Non-Vigilance Cases
• Customer Service Committee of the Board
• Credit Approval Committee of the Board
• Steering Committee of the Board on HR
• Capital Raising Committee

Educational Background

Surendran's educational qualifications underscore his diverse skill set:

• Bachelor's degree in Agriculture
• Master's in Science
• Postgraduate Diploma in Software Engineering
• Certified Associate of the Indian Institute of Bankers

Impact on PNB Housing Finance

The appointment of D. Surendran is expected to bring fresh perspectives to PNB Housing Finance's board, leveraging his extensive experience in various aspects of banking and finance. His expertise in branch operations, having headed multiple branches across diverse demographics, could prove invaluable for the company's strategic growth and operational efficiency.

PNB Housing Finance's decision to bring Surendran on board reflects its focus on strengthening governance and tapping into seasoned banking expertise to navigate the evolving financial landscape.

As the company continues to position itself in the competitive housing finance sector, Surendran's appointment may signal a strategic move to enhance its market presence and refine its operational strategies.

PNB Housing Finance , a prominent player in India's housing finance sector, held its 37th Annual General Meeting (AGM) on August 21, 2025, marking significant decisions for the company's future. The meeting, conducted through video conferencing, saw shareholders approving several key resolutions that will shape the company's financial strategy and governance structure.

Dividend Declaration and Financial Approval

Shareholders approved a dividend of INR 5.00 per equity share for the financial year ended March 31, 2025. This dividend, applicable to shares with a face value of Rs 10.00 each, is scheduled for payment on September 8, 2025. The meeting also saw the adoption of both standalone and consolidated financial statements for the fiscal year 2024-25, along with the accompanying reports from the Board of Directors and Auditors.

Board Composition and Auditor Appointment

Mr. Dilip Kumar Jain, who brings over 29 years of banking sector experience, was re-appointed as a non-executive nominee Director. Currently serving as the Chief Financial Officer of Punjab National Bank, Mr. Jain's reappointment underscores the company's commitment to leveraging seasoned expertise in its leadership.

The company appointed M/s. Vinod Kothari & Company as its Secretarial Auditor for a five-year term spanning from FY 2025-26 to FY 2029-30. This appointment reflects PNB Housing Finance's dedication to maintaining high standards of regulatory compliance and transparency.

Strategic Financial Decisions

A significant resolution passed at the AGM was the authorization granted to the Board of Directors to issue Non-Convertible Debentures (NCDs) or bonds. This approval allows the company to raise up to Rs 10,000.00 crore through private placement, providing substantial financial flexibility until the next AGM.

Expansion of Business Scope

Shareholders approved alterations to the company's Memorandum of Association, enabling PNB Housing Finance to offer unsecured loans within the regulatory framework. This strategic amendment is expected to broaden the company's lending portfolio and potentially open up new revenue streams.

Corporate Governance and Related Party Transactions

The AGM also addressed matters of corporate governance, including the approval of commission for Independent Directors and Non-Executive non-Nominee Directors. Additionally, shareholders greenlit material related party transactions with Punjab National Bank and PNB Gilts Limited, ensuring compliance with regulatory requirements while facilitating necessary business operations.

Looking Ahead

With these approved resolutions, PNB Housing Finance appears poised for potential growth and diversification in its operations. The substantial debt issuance capability, coupled with the expanded scope for unsecured lending, signals the company's ambitions for the coming fiscal year.