Piramal capital & housing finance launches its housing finance business in Nashik
Piramal Capital & Housing Finance (PCHF), the wholly owned subsidiary of Piramal Enterprise Limited, today announced the launch of its housing finance business in Nashik. PCHF will offer home loans, loan against property and construction finance to developers in the Nashik market. On the day of its launch, PCHF has sanctioned INR 100 crores for construction finance on the back of already established relationships with preferred developer partners in Nashik.
The housing finance business of PCHF has presence in cities like Mumbai, New Delhi and NCR, Pune, Bengaluru and now in Nashik. Going forward, by end of this fiscal year, the company plans to expand its housing finance presence across cities namely Ahmedabad, Chennai, Hyderabad, Surat, among others.
Commenting on the launch in Nashik, Mr. KhushruJijina, Managing Director, Piramal Capital & Housing Finance said, “We are delighted to announce the launch of our housing finance business in Nashik – which marks our strategic foray into a select non-metro market. In Maharashtra, Nashik has seen renewed interest in and appetite for real estate. The recently released CREDAI ANAROCK report on Nashik identifies key growth drivers that contribute to the city’s potential including good connectivity, excellent liveability quotient, tourism potential, industrial presence and horticulture production. These factors have led to an increased demand in the real estate sector. Our launch is aligned to our strategy of expanding our presence where there is a growing demand for home loans and construction finance. On the day of our launch itself, we have sanctioned INR 100 crores for construction finance.”
PCHF will enable developer partners in Nashik to target home buyers (both salaried and self-employed) through a range of tailor made innovative products and also provide funding across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance and flexi lease rental discounting. The company has a focused strategy to expand its housing finance business – which is a combination of multiple elements: a unique business model – B2B2C – (business to developer to customer) which is the key differentiator, the existing relationship with preferred developer partners, combined with innovative offerings and unique single window end-to-end financing solutions. Leveraging the size, scale and relationships of its wholesale business, PCHF has introduced its retail offering (housing finance) to complement its existing wholesale business that now enables offerings across the entire spectrum of financial products in real estate.