retail loan

Piramal Finance, which is the new brand name for the group’s credit business, serves over 2.2 million customers, 0.45 million of them acquired in the second quarter of the fiscal when its loan sales jumped over 40 per cent

Over the next three years, Piramal Capital and Housing Finance expect to grow its retail loan book to more than Rs 1 lakh crore, from around INR 25,000 crore now. The company is a part of Piramal Enterprises and has been rebranded as Piramal Finance. It is into SME lending, housing finance, retail finance as well as wholesale lending, which is the mainstay with over Rs 42,000 crore in developer financing. Its retail book stood at Rs 24,872 crore at the end of the September quarter.

Out of the retail book, as much as 63 per cent is affordable housing loans and most of it came from the takeover of DHFL in September 2021. Around 26 per cent is secured MSME loans, 4.2 per cent is digital finance, 2.6 per cent is unsecured MSME book and 1.3 per cent is used car loans. To address the financing needs of the unserved/underserved markets, the company will be focusing more on small towns, primarily the micro-markets on the outskirts of large cities, he said. Over the next five years, the company plans to almost double its branches to 600 in small towns from the present 343 branches across 293 cities spanning 27 states.