PNB Housing Finance Ltd on Tuesday announced the formal exit of its Managing Director and Chief Executive Officer, Girish Kousgi, with effect from the close of business hours on October 28, 2025.
The company said that Executive Director Jatul Anand will take charge as interim head, pending regulatory approvals for the appointment of a new full-time Managing Director and CEO.
In a filing on the exchanges, PNB Housing Finance said, “Mr. Girish Kousgi, Managing Director & CEO, has vacated his office with effect from close of business hours on October 28, 2025.”
The company added, “Regulatory approvals are currently under process for appointment of new Managing Director & CEO of the Company and disclosures will be made at the appropriate time.”
Until a new chief executive is formally appointed, the company has named Jatul Anand, Executive Director, to lead the team with the guidance of the Board chaired by D. Surendran, Nominee Director from Punjab National Bank.
Kousgi had earlier submitted his resignation on July 31, 2025, citing personal reasons. He had tendered his resignation via a letter dated July 30 “to pursue opportunities outside the company,” with the board accepting his exit effective October 28.
“I wish to resign from the position of MD & CEO of PNB Housing Finance Limited. I take this opportunity to thank each member of the board, all stakeholders, Management and colleagues for their trust & support. It has been an exciting and rewarding journey professionally and otherwise,” Kousgi had said in his resignation letter.
The company had previously noted that Kousgi would also cease to be a director on the boards of its subsidiaries, PHFL Home Loans and Services Limited and PEHEL Foundation, from the same date.
After the July announcement, shares of PNB Housing Finance had plunged 16.9% to an intraday low of ₹819.25 on the BSE. However, the board had assured stakeholders that its “strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation that Kousgi has helped build.”
R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, had also said the board would undertake “a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance.”
In other news, PNB Housing Finance reported a 24% YoY growth in net profit to Rs 582 crore for Q2FY26, with total income rising 13% to Rs 2,131 crore.
The company said that Executive Director Jatul Anand will take charge as interim head, pending regulatory approvals for the appointment of a new full-time Managing Director and CEO.
In a filing on the exchanges, PNB Housing Finance said, “Mr. Girish Kousgi, Managing Director & CEO, has vacated his office with effect from close of business hours on October 28, 2025.”
The company added, “Regulatory approvals are currently under process for appointment of new Managing Director & CEO of the Company and disclosures will be made at the appropriate time.”
Until a new chief executive is formally appointed, the company has named Jatul Anand, Executive Director, to lead the team with the guidance of the Board chaired by D. Surendran, Nominee Director from Punjab National Bank.
Kousgi had earlier submitted his resignation on July 31, 2025, citing personal reasons. He had tendered his resignation via a letter dated July 30 “to pursue opportunities outside the company,” with the board accepting his exit effective October 28.
“I wish to resign from the position of MD & CEO of PNB Housing Finance Limited. I take this opportunity to thank each member of the board, all stakeholders, Management and colleagues for their trust & support. It has been an exciting and rewarding journey professionally and otherwise,” Kousgi had said in his resignation letter.
The company had previously noted that Kousgi would also cease to be a director on the boards of its subsidiaries, PHFL Home Loans and Services Limited and PEHEL Foundation, from the same date.
After the July announcement, shares of PNB Housing Finance had plunged 16.9% to an intraday low of ₹819.25 on the BSE. However, the board had assured stakeholders that its “strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation that Kousgi has helped build.”
R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, had also said the board would undertake “a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance.”
In other news, PNB Housing Finance reported a 24% YoY growth in net profit to Rs 582 crore for Q2FY26, with total income rising 13% to Rs 2,131 crore.
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