PNB Housing Finance plunges 15% to hit 52-week low as CEO Girish Kousgi resigns; what investors should know

Shares of PNB Housing Finance slumped over 15 per cent to hit a 52-week low of Rs 834 on Friday, August 1, following the resignation of Managing Director and CEO Girish Kousgi. The stock hit its lower circuit on the NSE, trading down 14.91 per cent at Rs 834.90 apiece.

What fueled the fall

The company informed exchanges that Girish Kousgi will step down effective October 28, 2025, to pursue opportunities outside the organisation. He had joined PNB Housing in October 2022, steering the company through a strategic transformation phase.

In a statement, R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, said “The Board will initiate a rigorous, transparent, and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance.”

Company's plan after this 

PNB Housing Finance has affirmed that its strategic roadmap, growth plans, and financial stability remain intact despite the leadership transition.

The company stated that Kousgi has built a “strong foundation”, which will enable continuity in execution and performance. 

June quarter performance

In the June quarter (Q1 FY26), the company posted a 23 per cent jump in net profit to Rs 534 crore, compared to Rs 433 crore in the same quarter last year.

• Total income rose to Rs 2,082 crore vs Rs 1,832 crore YoY

• Interest income improved to Rs 1,980 crore, up from Rs 1,739 crore

• Net interest income (NII) increased 17 per cent to Rs 760 crore

• Net interest margin (NIM) improved to 3.75 per cent, up from 3.65 per cent

• Gross NPAs declined to 1.06 per cent, from 1.3 per cent YoY

Stock performance

Despite robust financials, investor sentiment took a hit post the leadership change. Here’s how the stock has performed:

• Down 15 per cent intraday on August 1

• Dropped 18 per cent in the last five sessions

• Fell 25 per cent in the last one month

• Down 6 per cent in the last six months

• 52-week high: Rs 1,202.20 (Sept 13, 2024)

• 52-week low: Rs 746.70 (Feb 28, 2025)

The company’s market capitalisation now stands at approximately Rs 21,721 crore.