PNB Housing’s Girish Kousgi to Lead IIFL Home Finance as CEO

As per the Moneycontrol reports, Girish Kousgi, currently the Chief Executive Officer(CEO) of PNB Housing Finance, is to take over as CEO of IIFL Home Finance. As per the report, he will replace Monu Ratra, who will leave as executive director and CEO on August 14, 2025. Ratra’s tenure will officially end on October 6, 2025, while Kousgi will step down from PNB Housing on October 28, 2025.

First Major Change Since ADIA Entry

This is the first significant leadership change at IIFL Home Finance since the Abu Dhabi Investment Authority (ADIA) bought a 20% stake in June 2022. As of June 30, 2025, IIFL Home Finance had a loan book of over ₹40,000 crore and operated through 374 branches across 20 states.

Exit from PNB Housing

As per news reports, PNB Housing disclosed on August 3, 2025, that Kousgi had submitted his resignation. His appointment in October 2022 came when the company was facing pressure on asset quality and weak stock performance. During his tenure, the company’s stock value rose more than threefold. Despite being appointed for 4 years, he is leaving ahead of schedule.

Read more: PNB Housing Sets ₹1 Lakh Crore Retail Loan Target by FY27!

IIFL Home Finance Background

IIFL Home Finance received approval from the National Housing Bank to operate as a housing finance company in 2009. In 2014, it shifted its focus to retail loans, and Ratra was appointed CEO to lead the mortgages division. Following IIFL Group’s three-way demerger in 2019-20, the housing finance arm became a subsidiary of IIFL Finance.

As per news reports, IIFL Finance is considering listing its housing finance arm in the future. A formal announcement on Kousgi’s appointment has not yet been made, with emails sent to IIFL Finance remaining unanswered. Kousgi has also not commented publicly on the move.

PNB Housing Finance Share Price Performance 

PNB Housing Finance share price closed at ₹800.05 on August 22, 2025, at 3:30 PM, down 0.52% for the day.

Conclusion

The leadership transition at IIFL Home Finance comes during a phase of expansion and possible listing plans. The company is preparing for its next chapter under new management following Ratra’s exit.

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