PNB Housing Finance Limited (PNBHFL) announced today that its Managing Director and Chief Executive Officer, Girish Kousgi, has submitted his resignation to pursue opportunities outside the company. The Board of Directors accepted his resignation on July 31, 2025, with the effective date set for October 28, 2025.

A Transformative Journey

Kousgi, who served the company for close to three years, described his tenure as "wonderful and fulfilling." During his leadership, PNBHFL underwent a transformational journey, positioning itself as a significant player in the housing finance industry.

In his resignation letter, Kousgi stated, "The Company has gone through a transformational journey and today it is future ready and well positioned to lead & stay as a significant player in the industry."

Smooth Transition Assured

While stepping down, Kousgi expressed confidence in the management team's capability to handle the transition. He committed to ensuring a smooth handover process, stating, "I am committed to a smooth transition and will always make myself available to assist in any way possible during the period."

Board's Acknowledgment

The Board of Directors acknowledged Kousgi's contributions, placing on record their sincere appreciation for his leadership skills, mentorship, and dedicated service throughout his tenure as the Managing Director and CEO.

Additional Roles

Kousgi will also cease to be a director on the boards of PNBHFL's subsidiaries - PHFL Home Loans and Services Limited and PEHEL Foundation - effective October 28, 2025.

Recent Company Performance

The resignation comes shortly after PNBHFL's Q1 FY'26 earnings conference call, held on July 22, 2025. During the call, the company reported strong performance metrics:

Looking Ahead

As PNBHFL prepares for this leadership transition, the company's focus remains on maintaining its growth trajectory and strong financial performance. The search for Kousgi's successor will likely be a key priority for the Board in the coming months.

The resignation of Girish Kousgi marks the end of an important chapter for PNB Housing Finance Limited. As the company moves forward, it will aim to build upon the strong foundation laid during Kousgi's tenure and continue its journey as a significant player in India's housing finance sector.

PNB Housing Finance , acting on behalf of the Government of Singapore (GOS) and Monetary Authority of Singapore (MAS), has reduced its combined shareholding in PNB Housing Finance Limited. The stake reduction was executed through open market transactions on July 28, 2025.

Stake Reduction Details

According to the disclosure under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011:

• The combined shareholding of GOS and MAS decreased from 5.484% to 5.388%
• Total shares held after the sale: 14,033,627 equity shares
• Government of Singapore's holding decreased to 4.493%
• Monetary Authority of Singapore's stake fell to 0.895%

Transaction Breakdown

Historical Context

GIC had previously held a 7.41% stake in PNB Housing Finance as of September 2024. The current transaction is part of a series of stake reductions by GIC over time. The company has been gradually reducing its position through multiple transactions, some of which were non-reportable to stock exchanges.

Market Impact

The sale was conducted through open market transactions, which may have an impact on the stock price of PNB Housing Finance Limited. Investors and market analysts will likely monitor the stock's performance in the coming days to assess any potential effects of this stake reduction.

Regulatory Compliance

The disclosure of this transaction complies with SEBI regulations, ensuring transparency in substantial share transactions. Such disclosures are crucial for maintaining market integrity and keeping shareholders informed about significant changes in ownership patterns.

About PNB Housing Finance Limited

PNB Housing Finance Limited is a prominent player in the Indian housing finance sector. The company is listed on both the National Stock Exchange of India Limited and BSE Limited. As of June 30, 2025, the total equity share capital of PNB Housing Finance stood at 260,452,282 shares.

This stake reduction by GIC Private Limited may prompt investors to closely watch for any further changes in the ownership structure of PNB Housing Finance and its potential implications on the company's future strategies and performance.