Piramal Housing Finance launches home loan offering in NCR region
Piramal Housing Finance, the wholly owned subsidiary of Piramal Finance, expands its presence in the Delhi-NCR market with the launch of 3 branches in Delhi, Gurugram and Noida. The retail housing finance business will offer home loans, loan against property and smaller ticket construction finance to the developers in Delhi-NCR.
Talking to Realty Plus on the sidelines of the press meet, Khushru Jijina, Managing Director, Piramal Finance & Piramal Housing Finance said, “The company has put in place a team of 100 people for the northern India roll-out of its housing finance arm which will pit it against established players such as HDFC, LIC and PNB Housing Finance.
He further elaborated, “We are excited to launch our housing finance offerings to Delhi-NCR – a critical market for us. Since its launch in September 2017 in the Mumbai Metropolitan Region alone, our housing finance business is expected to cross INR 1000crore by March 2018 in disbursed loans and sanctioned amounts. With a dedicated team, a roll out strategy in place to target Delhi-NCR market and a sharp focus on customer centricity, we plan to replicate our Mumbai success in NCR and beyond as we look to triple our retail HFC AUM by March 2019.”
Piramal HFC’s recent innovative offering – the ‘SUPER’ loan – has proved to be an effective tool in up-selling target end users. The product is well suited to the dynamics of the real estate market in NCR, thereby driving velocity of our development partners. The ‘SUPER’ loan factors future income potential whilst assessing the credit parameters for a retail loan and thereby enables the consumer to purchase an ideal home. In fact, the ‘SUPER’ loan also enables individuals to buy their first home at a much younger age (28 years as opposed to the earlier average of 35 years as the first time home buyers’ average age)
In addition, Piramal’s unique sales and research function ‘Brickex’ will also aid in identifying and implementing innovative marketing strategies and facilitating primary sales through newer distributors and channel partners.