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.

PNB Housing Finance witnessed significant market activity and an important leadership change, according to recent developments.

Block Trade Details

The company saw a substantial block trade on the National Stock Exchange (NSE) worth Rs 100.61 crores. The transaction involved approximately 1,200,179 shares changing hands at a price of Rs 838.30 per share. This block trade indicates notable investor interest in the company's stock.

Leadership Transition

PNB Housing Finance announced a significant change in its top leadership. Mr. Girish Kousgi, the company's Managing Director and Chief Executive Officer, has tendered his resignation. Contrary to speculations, Ashok Chandra, Managing Director and CEO of Punjab National Bank, clarified that Kousgi's resignation was due to personal family commitments in Bengaluru, not business-related issues or internal concerns.

Investor Call Scheduled

In response to the resignation, PNB Housing Finance has scheduled an investor call on August 4, 2025, at 08:00 AM IST. The call aims to address investor concerns about the leadership change and provide clarifications. Board members and the management team will participate in the call. The company has provided dial-in details for universal access, India toll-free numbers, and international toll-free numbers for Hong Kong, Singapore, UK, and USA. The call is being organized on shorter notice to promptly address investor concerns.

PNB's Stake and Future Plans

Punjab National Bank, which holds more than 28% stake in PNB Housing Finance, has no plans to increase its stake. The PNB Housing board has engaged an external HR firm to find a replacement CEO.

Addressing Concerns

When questioned about multiple senior leadership departures, including Chief Sales Officer Dilip Vethi Swaran and business head Anujai Saxena, Chandra maintained that Kousgi's exit was purely personal. He assured that the company faces no significant challenges and expressed confidence in PNB Housing Finance's continued growth trajectory.

Transition Period and Future Plans

Mr. Kousgi will continue in his role until October 28, 2025, ensuring a smooth transition. During this period, he will work closely with the Board and senior management to facilitate a seamless handover of responsibilities.

The company's Board of Directors has expressed its appreciation for Mr. Kousgi's leadership skills, mentorship, and dedicated service throughout his tenure. They have also affirmed their commitment to initiating a rigorous and transparent selection process to appoint a new leader who will further enhance PNB Housing Finance's legacy.

Company's Strategic Direction

Despite the impending leadership change, PNB Housing Finance has reaffirmed its commitment to its strategic priorities, business focus, and growth trajectory. The company stated that these aspects remain firmly intact, based on the strong foundation built during Mr. Kousgi's tenure.

The Board expressed confidence in the company's high-performing team, which has been instrumental in delivering strong performance. They believe this team will continue to achieve the company's goals of robust growth, maintaining asset quality, and improving margins.

Market Position and Future Outlook

PNB Housing Finance, promoted by Punjab National Bank, has emerged as the third-largest housing finance company in India. The company's management remains fully committed to executing its long-term strategy, underpinned by robust governance practices, prudent risk management, a customer-centric approach, and sustainable growth initiatives.

As PNB Housing Finance navigates this leadership transition, it continues to focus on its core strengths in the housing finance sector. The company's recent market activity, proactive approach to leadership succession, and the scheduled investor call underscore its importance in the Indian financial landscape and its commitment to long-term value creation for stakeholders.