GIC Housing Finance Limited has informed the Exchange regarding Board meeting held on July 11, 2025.
GICHSGFIN · price
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GIC Housing Finance's board, meeting on July 11, 2025, approved two key items. First, properties classified as Assets Held for Sale (AHS) as of March 31, 2025 will be merged back into the normal loan book (financial assets at amortised cost) effective April 1, 2025. The company will also stop fresh recognition of physically re-possessed assets as AHS from the same date, and provision them per its Expected Credit Loss policy. Second, Shri Sanjay Joshi (DIN 11137995) was appointed as an Additional Non-Executive Director, subject to shareholder approval at the 35th AGM. He is currently Chairman cum Managing Director of Oriental Insurance Company and brings 35 years of insurance industry experience.
The asset reclassification is an accounting/balance sheet adjustment and unlikely to materially affect business or stock price. The new director appointment brings seasoned insurance-sector leadership, with Oriental Insurance (a key shareholder) now having direct board representation.