Tag: PNB Housing Finance

Housing FinanceLatest Stories

Carlyle Group Negotiates Majority Stake in Nido Home Finance

Carlyle Group Inc. is negotiating to acquire a majority stake in an Indian home mortgage company as it aims to increase its investments in the country’s financial services sector, according to sources familiar with the situation. Carlyle is looking to make an initial investment of $300 million in Mumbai-based Nido Home Finance Ltd., which is owned by Edelweiss Financial Services Ltd. These discussions are ongoing and not yet finalized. If successful, Carlyle would join Blackstone Inc. and Sumitomo Mitsui Financial Group Inc. in capitalizing on India’s thriving housing finance sector. Earlier this year, Carlyle divested its long-time investments in PNB…

Housing FinanceLatest Stories

PNB Housing Finance Selects Four Candidates for CEO Role

MUMBAI: PNB Housing Finance, the third-largest housing finance company in India, has shortlisted four candidates for the role of managing director and CEO. Ajai Shukla, chief business officer at Tata Capital Housing Finance, is reportedly the leading candidate, according to sources familiar with the situation. The other contenders include Jatul Anand, executive director at PNB Housing Finance; Sachinder Bhinder, MD & CEO of Aavas Financiers; and Rajan Suri, chief business officer at Aditya Birla Housing Finance. These names have been submitted to the Reserve Bank of India (RBI) and the National Housing Bank (NHB) for consideration, as regulatory approval is…

Housing FinanceLatest Stories

IIFL Home Finance Names Girish Kousgi as MD & CEO

NEW DELHI: IIFL Home Finance, part of IIFL Finance, has named Girish Kousgi as its managing director and chief executive officer, starting October 30, 2025. Kousgi will oversee all business operations, focusing on home loans, the non-home loan segment, MSME loans, and construction finance. Before joining IIFL Home Finance, he was the MD & CEO of PNB Housing Finance. With almost 30 years of experience, he has held senior roles at Can Fin Homes, Tata Capital Financial Services, IDFC Bank, and ICICI Bank. Published On Oct 30, 2025 at 01:23 PM IST Join a community of over 2M industry professionals!…

Housing FinanceLatest Stories

PNB Housing Finance Q2 FY26 Net Profit Up 23.83%

NEW DELHI: PNB Housing Finance has reported a 23.83% increase in net consolidated growth for the quarter ending September 30, 2025. The profit after tax stood at ₹581.59 crore in Q2 FY26, up from ₹469.68 crore in the same quarter last fiscal year, according to a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹2,130.60 crore, reflecting a year-on-year growth of 13.35% from ₹1,879.66 crore in the same quarter last year. Jatul Anand, executive director of PNB Housing Finance, stated, “Despite facing challenges from leadership transitions, we’ve shown robust performance across key metrics this quarter. Our…

Housing FinanceLatest Stories

Grihum Housing Finance to Appoint Ex-Citi Banker as CEO

MUMBAI: TPG-backed mortgage lender Grihum Housing Finance is preparing to appoint Arjun Chowdhry, a former Citibanker, as its new Managing Director and CEO, according to insider sources. He is anticipated to join the firm next month. Chowdhry, who has over two years of experience as the head of retail lending and credit cards at Axis Bank, resigned last month to embark on an entrepreneurial journey. “TPG and the board believe Arjun’s expertise in underwriting credit card customers will greatly benefit strategies aimed at low-income clients, often perceived as higher risk,” noted a knowledgeable official. Messages sent to Chowdhry and Grihum…

Housing FinanceLatest Stories

PNB Housing Finance CEO Steps Down

NEW DELHI: Girish Kousgi, the Managing Director and CEO of PNB Housing Finance, has resigned from his position. Kousgi submitted his resignation on July 30, 2025, to explore new opportunities. The board accepted it with an effective resignation date of October 28, 2025. Additionally, the board noted that Kousgi will no longer serve as a director on the boards of PHFL Home Loans and Services, and PEHEL Foundation, both subsidiaries of the company, effective from October 28, 2025. R. Chandrasekaran, the chairman of the nomination and remuneration committee at PNB Housing Finance, stated, “The board will commence a thorough, transparent,…

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DLF Exits ₹10,000-Crore South Mumbai Project via Hubtown Deal

Realty developers Hubtown and DLF have resolved their longstanding dispute regarding a prominent redevelopment project in south Mumbai, covering 17 acres and estimated to be worth over Rs 10,000 crore. According to sources familiar with the situation, the consent terms include a payment of Rs 800 crore to DLF. This settlement marks the end of DLF’s involvement in the Tulsiwadi urban renewal project near the Willingdon Club in Tardeo, effectively concluding years of litigation and allowing the project to proceed. DLF has officially withdrawn all litigations against Hubtown, Twenty-Five Downtown Realty (formerly Joyous Housing), PNB Housing Finance, and others as…

Housing FinanceLatest Stories

PNB Housing Finance Q1 FY26 Net Profit Up 23% to ₹534 Crore

NEW DELHI: PNB Housing Finance announced a 23% increase in its net profit for the first quarter ending June 2025, reaching Rs 534 crore, compared to Rs 433 crore in the same period last year. The company’s total income rose to Rs 2,082 crore from Rs 1,832 crore during the corresponding quarter of the previous financial year, as stated in a regulatory filing. Interest income for the quarter increased to Rs 1,980 crore, up from Rs 1,739 crore a year ago. The net interest income also saw a 17% rise, totaling Rs 760 crore by the end of Q1 2025,…

Housing FinanceLatest Stories

NHB Unveils Refinance List to Prevent Misuse

MUMBAI: In a significant move towards transparency, the National Housing Bank (NHB) has released, for the first time, the list of beneficiaries under its refinance scheme. This initiative aims to prevent the misuse of NHB’s name by various lending institutions. This decision follows the exposure of Aviom India Housing Finance, which reportedly used outdated NHB refinance sanction letters, some dating back three to four years, to obtain loans from banks. “The NHB is committed to ensuring such incidents as those involving Aviom do not occur again. By making its refinance list public, it seeks to deter fraudulent entities from leveraging…

Housing FinanceLatest Stories

Housing finance firms see modest Q1 growth; rate cuts to impact margins

MUMBAI: Housing finance companies (HFCs) are projected to report moderate earnings for the June quarter, with industry-wide loan disbursals increasing by approximately 8% year-on-year, as per analyst projections. Nonetheless, margins are expected to face pressure due to intensified competition from banks and the effects of recent interest rate cuts. Moreover, provisioning costs may rise due to slower recovery rates, potentially resulting in stagnant profit after tax growth. As estimated by PL Capital, HFCs’ assets under management (AUM) are anticipated to exceed ₹3.7 lakh crore by the end of the June quarter, reflecting a 1% sequential growth. However, loan disbursals could…