PNB Housing appoints Ajai Kumar Shukla as MD & CEO; stock jumps nearly 6%

PNB Housing Finance Ltd on Friday announced the appointment of Ajai Kumar Shukla as its Managing Director and Chief Executive Officer (MD & CEO). The decision was approved by the company's Board of Directors at its meeting held today.

Shukla, 52, will assume charge from December 18, 2025, for a five-year term, subject to shareholder approval. The company confirmed that he is not debarred from holding the office of director by any Sebi order or directive from any other authority.

Shukla, an MBA, brings over three decades of experience in housing and mortgage lending. He has spent the last 16 years at Tata Capital Housing Finance Ltd, where he currently serves as Chief Business Officer and has previously led functions including Credit, Risk, Valuation, Digital Transformation and Affordable Housing Finance.

Before Tata Capital, he worked with ICICI Bank for more than seven years in various mortgage business roles and began his career at LIC Housing Finance Ltd, where he spent seven years.

PNB Housing also notified that Vipin Malhotra, who heads the Internal Audit function, has been designated as the company's Internal Auditor with effect from November 30, 2025.

Following the announcements, shares of PNB Housing rose 5.88 per cent in Friday's trade to touch a high of Rs 952.50.