PNB Housing Finance Share Price Plunges Over 15% on CEO Girish Kousgi's Resignation

PNB Housing Finance Ltd announced that Girish Kousgi has resigned from his position as Managing Director and CEO. The resignation was submitted on July 30 and accepted by the board during its meeting on July 31. His last working day will be October 28, 2025, after business hours.

Along with leaving PNB Housing, Kousgi will also step down from the boards of PHFL Home Loans and Services Ltd and PEHEL Foundation. Both are subsidiaries of PNB Housing Finance.

Tenure and Resignation Timeline

Kousgi joined the company in 2022. His resignation comes after a 3-year tenure. In his letter, he stated his intent to pursue other opportunities outside the organisation and said he would support a smooth transition process.

The company noted that it has seen structural changes under his leadership. No replacement has been named yet. The board is expected to begin the process of identifying a successor in the coming weeks.

Leadership Updates 

This is the 2nd high-level exit in a short span. Earlier, the head of PNB Housing’s affordable housing vertical had also resigned. Both exits come as the company is expanding into new segments.

Update from June Quarter

During the recent earnings call, Kousgi said the company was aiming to achieve a net interest margin of 3.7%, higher than its earlier estimate of 3.6–3.65%. He mentioned that growth in affordable and emerging segments was contributing to the margin outlook.

Read more: PNB Housing Finance Final Dividend Record Date, August 1, 2025!

PNB Housing Finance Share Price Performance 

As of 11:14 AM on August 1, 2025, PNB Housing Finance share price was trading at ₹819.95, a 16.86% decrease. Over the past month, the stock has fallen by more than 11%.

Conclusion

With Kousgi set to leave by October-end, PNB Housing enters a transition phase. Further updates regarding leadership changes and business continuity are awaited.

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