Summary of this article
PNB share price tanked over 18 per cent after MD and CEO Girish Kousgi resigned.
Kousgi’s resignation follows a string of top-level exits over the past few months.
Chief Sales Officer, Chief People Officer, Business Head, and Chairman and Non-Executive Nominee Director have till now resigned since the start of 2025.
Over the past one month, PNB Housing Finance’s stock has declined over 26 per cent.
PNB Housing Finance share price tanked over 18 per cent on August 1, 2025, hitting an intraday low of Rs 807 per share on the NSE, after the company announced the resignation of its Managing Director and CEO, Girish Kousgi.
According to the company’s exchange filing dated July 31, Kousgi has resigned to pursue opportunities outside the organisation. His resignation will be effective from October 28, 2025, after which he will also step down as director on the boards of PHFL Home Loans and Services Limited and PEHEL Foundation, subsidiaries of PNB Housing Finance.
The sudden exit by the top leadership made investors jittery, sparking heavy sell-off and dragging the stock to its lowest level in 19 weeks. This high profile exit has raised fresh concerns about the stability of the housing finance major’s management, especially at a time when leadership churn has already been weighing on sentiment.
On a year-to-date (YTD) basis, the stock is down over 10 per cent and over the past one month, it has declined over 26 per cent.
Series of High Profile Exits
Kousgi’s resignation is not an isolated event. PNB Housing Finance has seen a string of top-level exits over the past few months.
Dilip Vaitheeswaran, Chief Sales Officer resigned last week and is set to leave his office on August 14, 2025. Prior to this, Anujai Saxena, Business Head (Affordable), resigned on May 19, 2025 and Valli Sekar, the company’s Chief Sales and Collections Officer, has since been handling the additional portfolio.
Amit Singh, Chief People Officer, resigned on May 30, 2025, citing personal reasons. He was replaced by Satish Kumar Singh, who was elevated from Chief Operating Officer of PHFL Home Loans & Services.
Atul Kumar Goel, Chairman and Non-Executive Nominee Director, stepped down on January 1, 2025, following his exit as MD & CEO of Punjab National Bank.
The back-to-back resignations have raised questions about continuity in leadership and the company’s ability to retain key talent.
PNB Housing Finance Q1 FY26 Results
PNB Housing Finance posted a 23 per cent year-on-year (YoY) growth in its net profit for the first quarter of FY26, coming in at Rs 534 crore, as against Rs 433 crore in the same period last year.
The company’s net interest margin (NIM) improved slightly to 3.74 per cent, up from 3.65 per cent a year ago. Asset quality also strengthened, with gross non-performing assets (NPA) falling to 1.06 per cent at the end of June 30 from 1.35 per cent last year. Pre-provision operating profit grew 17 per cent YoY to Rs 632 crore.
Loan assets rose 16 per cent year-on-year to Rs 77,732 crore, driven mainly by the retail segment, which stood at Rs 76,923 crore. Within retail loans, affordable housing assets surged 143 per cent to Rs 5,744 crore, while loans in emerging markets grew 20 per cent to Rs 22,701 crore.
