India’s PNB Housing Finance on Friday appointed Ajai Kumar Shukla as managing director and chief govt officer for 5 years beginning December 18, sending shares of the mortgage lender up 5%.
Shukla, who has greater than three many years 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 inexpensive housing phase, serving to its mortgage ebook develop quicker than rivals.
The appointment comes as massive dwelling financiers face intensifying competitors from banks in lending for premium houses, whereas inexpensive housing has emerged as a extra engaging market, providing increased yields amid restricted competitors.
Shukla is presently the chief enterprise officer at Tata Capital Housing Finance. He has beforehand held roles within the mortgage companies of ICICI Financial institution and LIC Housing Finance.
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