PNB Housing Finance shares have plunged more than 21% in the last two trading sessions following the resignation of its Managing Director and CEO, Girish Kousgi. Today, as of 10:52 AM, the shares were trading 3.40% lower at Rs 781.00.
The board officially accepted his resignation during its meeting held on July 31, 2025. As of 9:53 AM on Monday, the stock was trading nearly 15% lower at ₹835.75 on the NSE.
In a stock exchange filing, PNB Housing confirmed that Kousgi’s resignation will take effect from the close of business hours on October 28, 2025. The company stated that he is stepping down to explore external opportunities.
Kousgi, who took charge during a pivotal phase of strategic realignment, played a key role in the company’s restructuring and growth journey. Alongside his resignation as MD & CEO, he will also step down from the boards of PNB Housing subsidiaries—PHFL Home Loans and Services Ltd. and PEHEL Foundation—on the same date.
The Board of Directors has acknowledged his contributions and expressed appreciation for his leadership. The company also confirmed that all statutory disclosures, including the resignation letter and other regulatory filings, have been uploaded to its official website as per SEBI norms.
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