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PNB Housing slumps after MD & CEO resigns
01-Aug-25   09:39 Hrs IST

Kousgi will work closely with the board and senior leadership to ensure a smooth transition until his departure on 28 October 2025.

The company affirmed that its strategic focus and growth trajectory remain unchanged, crediting Kousgi for helping build a strong foundation. The board will initiate an immediate search for a seasoned industry professional to take over leadership.

Chairman of the Nomination & Remuneration Committee, R. Chandrasekaran, assured a rigorous and merit-based selection process.

PNB Housing Finance is a deposit taking housing finance company registered with National Housing Bank (NHB). The company's asset base comprises primarily of retail home loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. In addition, it also provides loans against property and loans for purchase & construction of non-residential premises.

In Q1 June 2025, PNB Housing Finance's net profit increased by 23% YoY and declined by 3% QoQ to Rs 534 crore. Net interest income grew by 17% YoY and 4% QoQ to Rs 760 crore during the quarter. Net interest margin stood at 3.74% in Q1FY26 as against 3.75% in Q4FY25 and 3.65% in Q1FY25.

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