Shares of PNB Housing Finance Ltd witnessed a sharp fall of over 15% in early morning trade on August 1, 2025, following the resignation of the company’s Managing Director and CEO, Girish Kousgi. The resignation was officially accepted by the board during its meeting held on July 31, 2025. As of 9:53 AM, the shares were trading 15% lower at Rs 835.75.
According to the company’s stock exchange filing, Kousgi’s resignation will be effective from the close of business hours on October 28, 2025. The company stated that he is stepping down to pursue opportunities outside the organisation.
Kousgi had been leading PNB Housing through a crucial phase of strategic growth and restructuring. As part of his departure, he will also vacate his positions on the boards of PHFL Home Loans and Services Ltd. and PEHEL Foundation, both subsidiaries of PNB Housing, on the same date.
The Board of Directors acknowledged his significant contributions during his tenure and expressed gratitude for his leadership and mentorship. The company has confirmed that all statutory disclosures, including Kousgi’s resignation letter and required compliance documents, have been made available on its official website, in line with SEBI’s disclosure regulations.
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