It’s always interesting to find out who the masterminds are behind companies that we utilize every day. PNB Housing Finance, a leading Indian housing finance company, is no exception. So who is the CEO of PNB Housing Finance? Let’s take a closer look.
The man in charge of PNB Housing Finance is Sanjaya Gupta, who was appointed as CEO in August 2020. Gupta has an impressive background, having worked for over 30 years in the banking and finance industry. He has prior experience with PNB Housing Finance as former CFO and briefly served as interim CEO in 2019.
Gupta’s appointment as CEO came at a time when PNB Housing Finance was in the midst of a leadership crisis and struggling financially. However, Gupta is known for his financial acumen and has already implemented various measures to stabilize the company. It’ll be intriguing to see what Gupta has in store for PNB Housing Finance in the coming years.
Overview of PNB Housing Finance
PNB Housing Finance Limited is a registered housing finance company that is regulated by the National Housing Bank (NHB). It is a subsidiary of Punjab National Bank (PNB) and was established in the year 1988. The company offers a range of housing finance solutions such as home loans, home extension loans, home improvement loans, home construction loans, and loan against property. The company has a strong presence in the Indian housing finance industry and is known for providing affordable housing finance to its customers.
- PNB Housing Finance operates through a network of 89 branches spread across 32 states and union territories in India.
- The company offers home loans for a variety of purposes such as purchase of an under-construction or a ready-to-move-in property, self-construction, renovation or extension of an existing property, and plot purchase.
- PNB Housing Finance offers loan against property to its customers to meet their financial requirements such as business expansion, education, marriage, and medical emergencies.
PNB Housing Finance is committed to providing quick, convenient, and hassle-free home loan solutions to its customers. The company has a user-friendly online platform that allows customers to apply for a home loan from the comfort of their homes. The customer service team of the company is highly trained and is always ready to assist customers with their queries and concerns.
History of PNB Housing Finance
PNB Housing Finance is one of the prominent housing finance companies in India. The company is a subsidiary of Punjab National Bank, which is one of the largest nationalized banks in India. Established in 1988, PNB Housing Finance provides home loans, construction loans, and loan against property in India. The company has been growing in popularity due to its competitive interest rates and transparent lending practices.
- In 1988, PNB Housing Finance was incorporated as a subsidiary of Punjab National Bank.
- In 2009, the Carlyle Group, a global alternative asset manager, acquired a 49% stake in the company.
- In 2016, the company went public and was listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
PNB Housing Finance has been expanding its presence across India, with over 100 branches in 46 cities in the country. The company has also been diversifying its portfolio by offering different types of home loans to cater to the diverse needs of its customers.
PNB Housing Finance has received numerous awards and recognition for its excellent services. In 2020, the company was ranked 15th among the top 100 companies by Forbes. The company has also been recognized as the Best Housing Finance Company in India by several prestigious organizations like CMO Asia, National Awards for Excellence in BFSI, and Golden Peacock Awards.
| Year | Awards and Recognition |
|---|---|
| 2019 | Best Affordable Housing Finance Company at the 11th ASSOCHAM Real Estate Summit |
| 2018 | Best Housing Finance Company at the National Awards for Excellence in BFSI |
| 2017 | Best Performing Housing Finance Company (Large) at the 10th Annual Banking Summit |
In conclusion, PNB Housing Finance has come a long way since its inception in 1988. With its focus on customer satisfaction, transparency, and competitive interest rates, the company has established itself as a leading housing finance company in India.
Recent developments in PNB Housing Finance
PNB Housing Finance is a leading housing finance company in India, providing loans to customers who want to buy or construct a house. The company was established in 1988 as a subsidiary of Punjab National Bank and has since grown to become one of India’s leading housing finance companies.
In recent times, there have been a number of significant developments in PNB Housing Finance. Here are some of the most notable ones:
- Change of leadership: In November 2020, Hardayal Prasad stepped down as CEO of PNB Housing Finance, citing personal reasons. Neeraj Vyas was appointed as the new CEO of the company in December 2020. Vyas has over 37 years of experience in the financial services sector and has previously worked with leading banks and finance companies in India.
- Strategic partnership with Premji Invest: In August 2020, PNB Housing Finance announced that it had entered into a strategic partnership with Premji Invest, the investment office of Azim Premji. The partnership involves a preferential allotment of shares to Premji Invest, which will result in the company owning a 4.99% stake in PNB Housing Finance.
- Capital infusion: In July 2020, PNB Housing Finance received a capital infusion of Rs 1,800 crore ($240 million) from a group of investors led by private equity firm Carlyle Group. The funds will be used by the company to strengthen its capital adequacy ratio and support its growth plans.
In addition to these developments, PNB Housing Finance has also been focusing on expanding its digital capabilities to make the loan application and approval process more seamless for customers. The company has launched a number of mobile apps and online platforms to enable customers to apply for loans and track the status of their applications in real-time.
Overall, these recent developments are expected to help PNB Housing Finance strengthen its position in the Indian housing finance market and drive growth in the coming years.
Leadership structure at PNB Housing Finance
PNB Housing Finance is one of the leading providers of housing finance in India. The company has a well-defined leadership structure, with experienced professionals at the helm of affairs. Here are the key leaders at PNB Housing Finance:
- Mr. Hardayal Prasad: Managing Director and CEO
- Mr. Neeraj Vyas: Whole Time Director and CEO Designate
- Mr. Kapish Jain: Chief Financial Officer
Mr. Hardayal Prasad is the Managing Director and CEO of PNB Housing Finance. He has over 37 years of experience in the banking and finance industry, and has been associated with PNB Housing Finance since 2010. Prior to joining PNB Housing Finance, Mr. Prasad had served as the Executive Director of Union Bank of India. Under his leadership, PNB Housing Finance has grown to become one of the top housing finance companies in India.
Mr. Neeraj Vyas is the Whole Time Director and CEO Designate of PNB Housing Finance. He has over 32 years of experience in the banking and finance sector, and has worked with reputed organizations like ICICI Bank and HDFC Bank. Mr. Vyas is expected to take over as the CEO of PNB Housing Finance in the near future.
Mr. Kapish Jain is the Chief Financial Officer of PNB Housing Finance. He has over 18 years of experience in finance, and has worked with organizations like Citigroup and ICICI Bank. Mr. Jain has been with PNB Housing Finance since 2018, and has been instrumental in driving the company’s growth.
The leadership team at PNB Housing Finance has been successful in steering the company towards steady growth. Their expertise and experience have helped the company stay ahead of the curve amidst competition in the housing finance sector.
| Name | Designation |
|---|---|
| Mr. Hardayal Prasad | Managing Director and CEO |
| Mr. Neeraj Vyas | Whole Time Director and CEO Designate |
| Mr. Kapish Jain | Chief Financial Officer |
The above table provides a summary of the key leaders at PNB Housing Finance, along with their designations. It is clear that the company has a strong leadership structure in place, which is one of the factors contributing to its success and growth.
Achievements of PNB Housing Finance under current leadership
PNB Housing Finance is led by Sanjaya Gupta as the CEO, who took over in June 2020. Under his leadership, the company has achieved remarkable milestones and growth in the housing finance sector. Some of these achievements are:
- The company has disbursed a total loan amount of over INR 42,000 Cr. to date.
- Despite the COVID-19 pandemic, PNB Housing Finance has registered growth of over 25% YoY in the affordable housing segment.
- PNB Housing Finance has launched a new product named “PNB Awas Plus” to provide end-to-end assistance to customers in buying a home, including legal and technical services.
In addition to these achievements, the company is also focused on making a positive impact on society. It has launched various initiatives to provide affordable housing in tier-2 and tier-3 cities of India. One such initiative is the “Green PNB Home Loans” that promotes environment-friendly housing options. Under this scheme, PNB Housing Finance provides a concession on home loan rates for properties with environmentally sustainable features.
PNB Housing Finance has also expanded its digital footprint by launching a mobile app, which enables customers to apply for loans online and track the status of their application. The company has also partnered with various e-commerce platforms such as Amazon and Flipkart, to provide home loans to their customers.
| Year | Loan Amount Disbursed | YoY Growth |
|---|---|---|
| 2020 | INR 14,000 Cr. | 10% |
| 2019 | INR 12,800 Cr. | 12% |
| 2018 | INR 10,500 Cr. | 8% |
PNB Housing Finance’s achievements under Sanjaya Gupta’s leadership have been impressive. The company’s focus on affordable and sustainable housing options, along with its efforts to expand digital services, have made it a prominent player in the housing finance sector in India.
Future goals of PNB Housing Finance
PNB Housing Finance, with its customer-centric and innovative approach, has set ambitious goals for the future that aim to create long-term value for all stakeholders. Some of the key goals for the company are:
- Expansion of market share: PNB Housing Finance aims to expand its market share by tapping into the under-penetrated markets in India. The company plans to increase its presence in the affordable housing segment, which is a key growth area in the Indian real estate market.
- Digital transformation: The company is focused on leveraging technology to enhance customer experience and streamline operations. PNB Housing Finance has already launched several digital initiatives such as a mobile app, online loan application and servicing platforms, and online payment options.
- Sustainable practices: PNB Housing Finance is committed to sustainable business practices and aims to reduce its carbon footprint by adopting green initiatives. The company has already introduced eco-friendly housing loan products and is planning to fund green buildings to promote sustainable living.
PNB Housing Finance has also set financial targets for the next few years, with a goal to achieve a loan book of INR 850 billion by 2023. The company plans to achieve this by expanding its customer base and deepening its penetration in existing markets.
To achieve these ambitious goals, PNB Housing Finance is focused on building a strong and dedicated team that can drive growth and innovation. The company is committed to creating a positive work culture that encourages collaboration, creativity and continuous learning.
| Financial targets | Goals |
|---|---|
| Loan book | INR 850 billion |
Overall, PNB Housing Finance is well poised to achieve its future goals and make a significant impact in the Indian housing finance sector.
Comparison of PNB Housing Finance with other housing finance companies
PNB Housing Finance is one of the leading housing finance companies in India. It has established itself as a trusted brand in the industry by providing affordable home loans to millions of Indians. However, there are other housing finance companies in the market that compete with PNB Housing Finance. In this article, we will compare PNB Housing Finance with other housing finance companies in the market.
- Interest rates: One of the major factors that borrowers consider while choosing a housing finance company is the interest rate. PNB Housing Finance offers competitive rates compared to its competitors such as HDFC, LIC Housing Finance, and SBI. On an average, PNB Housing Finance offers interest rates ranging from 6.75% to 8.75% depending on the type of loan and the tenure. HDFC and LIC Housing Finance offer interest rates ranging from 6.90% to 9.05% and 6.90% to 8.80%, respectively. SBI offers interest rates ranging from 6.70% to 8.45%.
- Loan approval process: Another important factor that borrowers consider is the loan approval process. PNB Housing Finance has a quick and easy loan approval process compared to its competitors. The company offers pre-approved loans to its customers, which helps in faster loan approval. HDFC and LIC Housing Finance also have a quick loan approval process, but SBI has a relatively slow loan approval process.
- Customer service: Good customer service is important for any company, and housing finance companies are no exception. PNB Housing Finance has a good customer service department, which is quick to respond to customer queries and grievances. HDFC and LIC Housing Finance are also known for their good customer service. SBI, on the other hand, has received complaints from customers regarding its customer service.
Overall, PNB Housing Finance is a competitive player in the housing finance market. It offers affordable home loans, quick loan approval, and good customer service. While there are other housing finance companies in the market that offer similar benefits, PNB Housing Finance has established itself as a trusted brand in the industry.
Here is a table comparing the interest rates of PNB Housing Finance, HDFC, LIC Housing Finance, and SBI:
| Company | Interest rate (min %) | Interest rate (max %) |
|---|---|---|
| PNB Housing Finance | 6.75 | 8.75 |
| HDFC | 6.90 | 9.05 |
| LIC Housing Finance | 6.90 | 8.80 |
| SBI | 6.70 | 8.45 |
It is important to note that the interest rates mentioned in the table are subject to change as per the company’s policies and guidelines.
FAQs about who is the CEO of PNB Housing Finance
1. Who is the CEO of PNB Housing Finance?
The current CEO of PNB Housing Finance is Mr. Neeraj Vyas.
2. What is Mr. Neeraj Vyas’ educational background?
Mr. Neeraj Vyas holds a Bachelor’s degree in Commerce and has completed his Chartered Accountancy from the Institute of Chartered Accountants of India.
3. What was Mr. Neeraj Vyas’ prior experience before joining PNB Housing Finance?
Mr. Neeraj Vyas has over 28 years of experience in the banking and financial services industry. He has worked with several leading financial institutions such as ICICI Bank, Standard Chartered Bank, and Tata Capital before joining PNB Housing Finance.
4. When did Mr. Neeraj Vyas become the CEO of PNB Housing Finance?
Mr. Neeraj Vyas was appointed as the CEO of PNB Housing Finance on 4th June 2021.
5. What is Mr. Neeraj Vyas’ vision for PNB Housing Finance?
Mr. Neeraj Vyas aims to make PNB Housing Finance one of the leading housing finance companies in the country. He plans to achieve this by focusing on customer satisfaction, digital transformation, and product innovation.
6. How can I contact Mr. Neeraj Vyas?
Unfortunately, we do not have Mr. Neeraj Vyas’ personal contact details. However, you can contact PNB Housing Finance through their customer care number or email address.
Closing: Thanks for reading!
We hope this article helped answer your questions about who is the CEO of PNB Housing Finance. For more updates and news on the company, please visit their official website. Thank you for reading and we hope to see you again soon!