India's Bajaj Housing Finance CFO Gaurav Kalani to step down
India's Bajaj Housing Finance CFO Gaurav Kalani to step down Oct 23 (Reuters) - India's Bajaj Housing Finance BAJO.NS said on Friday that Chief Financial Officer Gaurav Kalani will step down from his role by January 31, 2027.
The company, India's biggest non-bank home loan financier by market value, did not name a successor.
Here are some details:
Bajaj Housing Finance said Kalani tendered his resignation in a letter on Thursday and will pursue opportunities outside the organization
Kalani, who joined the Bajaj Group in 2003, worked at its auto and financial services units before becoming CFO of the housing finance business in 2018
The exit comes at a time when India's housing finance companies face tougher competition in the mortgage market, as banks can borrow at lower costs and offer cheaper home loans, putting pressure on lenders' profit margins.
Bajaj Housing Finance posted a higher second-quarter profit last week, but shares fell afterwards as analysts grew concerned about margins and valuation.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Sonia Cheema)
((Aishwarya.Jain@thomsonreuters.com;))
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