Piramal Capital & Housing Finance expands its housing finance presence in Gujarat
Since its inception in Sep 2017, the overall housing finance loan book has reached Rs 5,200 crore
Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has expanded 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 Rs 75 crore 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.
Khushru Jijina, MD, Piramal Capital & Housing Finance, said, “Gujarat 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.”
PCHFL has a focused strategy to expand its housing finance business that is a combination of multiple elements:
*A unique business model – B2B2C – (business to developer to customer) which is a key differentiator;
*Existing robust relationships with developer partners combined with innovative offerings; and
*A single platform that provides end-to-end financing solutions.
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 Rs 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.