Piramal Capital & Housing Finance Expands Presence
Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, today announced the expansion of its housing finance operations in Gujarat, with the launch of two new branches – Vadodara and Surat. The company will provide its housing finance offerings namely home loans, loans against property and small ticket construction finance in these markets.
In October 2018, PCHFL launched its retail operations in Gujarat with Ahmedabad branch and in a short span of time, it has sanctioned over INR 75 crores of home loans. PCHFL has had a long standing presence in Gujarat through its wholesale real estate funding business where it provides end-to-end real estate financing solutions across the entire capital stack such as structured debt, construction finance, flexi lease rental discounting, etc. Building on its strong relationships with developer partners in Ahmedabad, PCHFL has sanctioned and disbursed INR 2,000 croresthrough its wholesale business.
KhushruJijina, Managing Director, Piramal Capital & Housing Finance Ltd. said, “Piramal Capital & Housing Finance is delighted to launch its Vadodara and Surat offices, in addition to our presence in Ahmedabad. Gujarat, a dynamic and segmented real estate market, is significant to our growth plans. This launch is aligned to our strategy to expand our presence where there is a growing demand for real estate and home loans. Currently, housing finance business contributes ~10% to PCHFL’s overall loan book, which is expected to increase to 15-18% by March 2020.”
The housing finance business of PCHFL has presence in Mumbai, New Delhi, Pune, Bengaluru, Nashik, Ahmedabad, Hyderabad, Chennai and now in Vadodara and Surat. Since its inception, the overall housing finance loan book has reached ~INR 5,200 crores as on 31st March 2019. Going forward, in the next 6-9 months, the company plans to expand its presence in Jaipur, Nagpur, Navi Mumbai, Palava and Indore.