PNB Housing Finance Limited has announced a senior management change with the elevation of Mr. Mukesh Agarwal as Function Head, effective December 15, 2025. The company informed stock exchanges about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Elevation Details

The elevation pertains to Agarwal's role as Chief Sales Officer-Retail. The following table summarizes the key details of this management change:

Professional Background

Mr. Mukesh Agarwal, currently Chief Sales Officer-Retail, brings 21 years of experience in the finance industry. As a seasoned finance professional and Chartered Accountant (ICAI 2003), Agarwal has extensive experience in credit, underwriting, policy formulation, and sales leadership across leading financial institutions.

Career Progression at PNB Housing Finance

Agarwal has demonstrated significant growth during his tenure with PNB Housing Finance Limited. His career progression within the organization includes:

Throughout his tenure, Agarwal has been instrumental in driving credit operations and policy frameworks, leveraging his expertise in credit risk management and business strategy.

Prior Experience

Before joining PNB Housing Finance Limited, Agarwal worked with several prominent financial institutions, including Standard Chartered Bank, ICICI Bank, and IndusInd Bank. His experience at these institutions focused on credit initiation, regional credit management, and audit functions, providing him with a comprehensive understanding of the banking and financial services sector.

Regulatory Compliance

The company has fulfilled all disclosure requirements pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The information has also been made available on the company's website at https://www.pnbhousing.com/ .

This elevation reflects PNB Housing Finance Limited's commitment to recognizing and promoting internal talent while strengthening its leadership team for continued growth in the competitive housing finance sector.

PNB Housing Finance has formally announced the appointment of Mr. Ajai Kumar Shukla as its new Managing Director and Chief Executive Officer following a board meeting held on December 12, 2025. The appointment has been approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee and post regulatory approvals.

Board Meeting Outcome

The Board of Directors of PNB Housing Finance convened on Friday, December 12, 2025, from 1:15 PM to 1:45 PM to approve key appointments. The meeting was conducted in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Profile and Experience

Mr. Ajai Kumar Shukla, aged 52 years, brings over 30 years of extensive experience in Housing and Mortgage Lending business. He holds an MBA degree and has been associated with TATA Capital Housing Finance Limited for the last 16 years, currently serving as Chief Business Officer. During his tenure at TATA Capital, he has headed various critical functions including Credit, Risk, Valuation, Digital Transformation, and Affordable Housing Finance.

Regulatory Compliance and Additional Appointments

The company has confirmed that Mr. Shukla is not debarred from holding the office of a Director by virtue of any Securities and Exchange Board of India (SEBI) Order or any other such authority. He is not related to any of the Promoters, members of the Promoter Group, or any of the Directors of the Company.

Additionally, the Board has designated Mr. Vipin Malhotra, who heads Internal Audit, as Internal Auditor of the Company effective from November 30, 2025.

Strategic Leadership Transition

This appointment marks a significant milestone in PNB Housing Finance's leadership structure, bringing experienced industry expertise to guide the company's strategic initiatives. Mr. Shukla's extensive background across leading financial institutions positions him well to drive the company's growth in the competitive housing finance sector.