PNB Housing MD & CEO Girish Kousgi to step down with effect from Oct 28

PNB Housing Finance Managing Director and Chief Executive Officer Girish Kousgi has announced his resignation and will step down from his role effective October 28, 2025.

The board, while accepting his resignation noted that Kousgi will cease to be a director on the board of Directors of PHFL Home Loans and Services Ltd, and PEHEL Foundation -- the subsidiaries of the company, with effect from October 28, 2025.

In a regulatory filing on Friday, PNB Housing Finance said the company affirms 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 of the board said, the company 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.

"We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation," he said.

PNB Housing Finance, promoted by Punjab National Bank, is the third largest housing finance company in India.

For the first quarter ended June 30, 2025, the company reported a 23 per cent increase in its net profit to Rs 534 crore, as against Rs 433 crore in the same quarter of the previous year.

The company's total income for the quarter grew to Rs 2,082 crore, from Rs 1,832 crore in the corresponding quarter of the previous fiscal year.

Interest income for the quarter was higher at Rs 1,980 crore, compared to Rs 1,739 crore a year ago.

The net interest income also saw a 17 per cent rise to Rs 760 crore at the end of Q1 2025, as against Rs 651 crore in the year-ago quarter.