The board of PNB Housing Finance, based on the recommendation of the nomination and remuneration committee and audit committee, has approved the appointment of Vinay Gupta as chief financial officer and key managerial personnel of the company, with effect from 26 October 2022.

Vinay Gupta is a CA from ICAI batch of 2002 with over 20 years of experience. He has extensive experience in financial management, financial planning, Indian and US GAAP accounting, treasury operations, budgeting, forecasting, regulatory reporting and MIS. He has also dealt with divestment, merger, IPO including due diligence and valuations. He is an expert in long term and medium term strategy and decision support for top management through detailed analytics.

Currently, Gupta is associated with SBI Cards and Payment Services, the company said.

PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. As on 30 June 2022, Punjab National Bank held 32.57% in PNB Housing Finance.

The housing finance company's consolidated net profit shed 3.4% to Rs 234.96 crore on 16.6% decline in total income to Rs 1,411.99 crore in Q1 FY23 over Q1 FY22.

Shares of PNB Housing Finance gained 2.46% to close at Rs 411.90 on Friday, 7 October 2022.