Dec 12 (Reuters) – India’s PNB Housing Finance (PNBH.NS) on Friday appointed Ajai Kumar Shukla as managing director and chief government officer for 5 years beginning December 18, sending shares of the mortgage lender up 5%.
Shukla, who has greater than three a long time of expertise in housing and mortgage lending, will change Girish Kousgi, who was seen by analysts as a key driver of the corporate’s push into the reasonably priced housing section, serving to its mortgage guide develop quicker than rivals.
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The appointment comes as giant residence financiers face intensifying competitors from banks in lending for premium properties, whereas reasonably priced housing has emerged as a extra engaging market, providing increased yields amid restricted competitors.
Shukla is at the moment the chief enterprise officer at Tata Capital Housing Finance. He has beforehand held roles within the mortgage companies of ICICI Financial institution (ICBK.NS) and LIC Housing Finance (LICH.NS).
Reporting by Nishit Navin; Modifying by Subhranshu Sahu and Mrigank Dhaniwala
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