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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
PNB Housing Finance on Tuesday reported a 43 per cent jump in net profit to Rs 483 crore for the December quarter. The non-banking finance company, promoted by Punjab National Bank, had earned Rs 338 crore in the same quarter a year ago. Total income during the third quarter of the current fiscal year grew to Rs 1,943 crore from Rs 1,756 crore in the year-ago period, PNB Housing Finance said in a regulatory filing. During the quarter, interest income improved to Rs 1,848 crore as compared to Rs 1,680 crore in the same period a year ago. Total expenses increased marginally to Rs 1,327 crore as against Rs 1,316 crore a year earlier. Gross non-performing assets declined to 1.19 per cent as of December 31, 2024, compared to 1.73 per cent at the end of the third quarter of the previous fiscal year. The mortgage firm has recovered Rs 53 crore from retail written-off pool in the quarter under review, it said. The capital adequacy ratio declined to 28.8 per cent from 29.53 per cent at t
Asia Opportunities V (Mauritius) and General Atlantic divested a 4.46 per cent stake in housing finance firm PNB Housing Finance for Rs 843 crore through open market transactions. US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund FII Pte Ltd offloaded its stake in PNB Housing Finance on the BSE. As per the bulk deal data available with the BSE, Asia Opportunities V (Mauritius) and private equity firm General Atlantic Singapore Fund FII Pte sold 58 lakh shares each, amounting to a combined 4.46 per cent stake in PNB Housing Finance. The shares were disposed of in a price range of Rs 727.26-727.47 apiece, taking the combined deal size to Rs 843.79 crore. As of March 2024, shareholding data of PNB Housing Finance on the BSE, Asia Opportunities V (Mauritius) Ltd holds a 9.88 per cent stake, and General Atlantic Singapore Fund FII Pte owns a 9.82 per cent stake in the company. Meanwhile, Societe Generale purchased 13.08 lakh shares at a