PNB Housing Finance Limited , one of India's leading housing finance companies, announced today that its Managing Director and Chief Executive Officer, Girish Kousgi, has tendered his resignation. The move comes as Kousgi seeks to pursue opportunities outside the organization, marking the end of his nearly three-year tenure at the helm of the company.

Resignation Details

Kousgi's resignation, submitted on July 30, 2025, was accepted by the PNB Housing Finance Board of Directors at a meeting held on July 31, 2025. The effective date of his departure is set for October 28, 2025, at the close of business hours. This timeline allows for a smooth transition period of approximately 90 days.

Impact on Subsidiaries

As a result of his resignation, Kousgi will also step down from his positions on the boards of PNB Housing's subsidiaries. He will cease to be a director on the Board of Directors of PHFL Home Loans and Services Limited and PEHEL Foundation, effective October 28, 2025.

Company's Response

The Board of Directors expressed its appreciation for Kousgi's contributions, stating, "The Board places on record its sincere appreciation for his leadership skills, mentorship, and dedicated services provided throughout his tenure as the Managing Director and Chief Executive Officer of the Company."

In his resignation letter, Kousgi reflected on his time with PNB Housing Finance, saying, "The Company has gone through a transformational journey and today it is future-ready and well-positioned to lead and stay as a significant player in the industry."

Transition Period

Kousgi has committed to ensuring a smooth transition, stating in his letter, "While the management team is very capable in taking over the mantle with professional ease, I am committed to a smooth transition and will always make myself available to assist in any way possible during the period."

Looking Ahead

PNB Housing Finance has not yet announced a successor to Kousgi. The company's board will likely initiate a search for a new CEO in the coming weeks to ensure continuity in leadership.

The news of Kousgi's resignation comes at a time when PNB Housing Finance has been focusing on growth in its Affordable and Emerging market segments. The company recently reported strong financial results for Q1 FY'26, with a 17% year-on-year growth in net interest income and a 23% increase in profit after tax.

As the company navigates this leadership transition, stakeholders will be watching closely to see how PNB Housing Finance maintains its strategic direction and growth momentum in the competitive housing finance sector.

PNB Housing Finance experienced significant market activity and announced a major leadership change, signaling a period of transition for the company.

Block Trade Details

The National Stock Exchange witnessed a substantial block trade involving PNB Housing Finance shares. The transaction, valued at approximately Rs 150.00 crore, saw about 1,798,521 shares changing hands at a price of Rs 834.00 per share. This block trade indicates notable investor interest in the company's stock.

Leadership Transition

In a separate development, PNB Housing Finance announced that its Managing Director and Chief Executive Officer, Mr. Girish Kousgi, has tendered his resignation. Mr. Kousgi, who has been with the company for nearly three years, will step down from his role effective October 28, 2025, to pursue opportunities outside the organization.

Company's Response

The Board of Directors has accepted Mr. Kousgi's resignation and acknowledged his contributions during his tenure. In a statement, the company said:

"The Board of Directors places on record its sincere appreciation for his leadership skills, mentorship and dedicated services provided by Mr. Girish Kousgi throughout his tenure as the Managing Director and Chief Executive Officer of the Company and wishes him the very best for his future endeavours."

Transition Period

Mr. Kousgi will continue in his role until October 28, 2025, ensuring a smooth transition. The company stated that he will work closely with the Board and Senior management during this period. Additionally, Mr. Kousgi will step down from his positions on the boards of PNB Housing's subsidiaries, PHFL Home Loans and Services Limited and PEHEL Foundation, on the same date.

Future Outlook

PNB Housing Finance emphasized that its strategic priorities, business focus, and growth trajectory remain firmly intact. The company expressed confidence in its high-performing team's ability to continue achieving robust growth, maintain asset quality, and sustain margins.

The Board has announced that it will immediately commence a search for a new leader, seeking a seasoned professional with proven expertise and industry experience. Mr. R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, stated:

"The Board will initiate a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance."

As PNB Housing Finance navigates this leadership transition, the recent block trade and the company's commitment to its strategic direction suggest that investors and management alike are focused on the company's long-term prospects in the competitive housing finance sector.