Pi­ra­mal Hous­ing Fi­nance eye­ing Rs1,000 crore loans

HT Estates - - FRONT PAGE - Ko­mal Gupta ko­mal.g@livemint.com

NEW DELHI: Pi­ra­mal Hous­ing Fi­nance Ltd, which en­tered the prop­erty loans busi­ness in Septem­ber, is tar­get­ing Rs1,000 crore loans by the end of this month, man­ag­ing di­rec­tor Khushru Ji­jina said.

The com­pany, a sub­sidiary of Pi­ra­mal Fi­nance Ltd, opened its first of­fice in Mum­bai last year. On Wed­nes­day, it opened three branches in Delhi-NCR.

The com­pany also plans to set up­more­branch­esinPune, Su­rat and Nashik in the com­ing year.

Around 50% of the branches will be in tier 2 and 3 cities by the year 2020, Khushru Ji­jina, man­ag­ing di­rec­tor, Pi­ra­mal Fi­nance & Pi­ra­mal Hous­ing Fi­nance said. The com­pany of­fers home loans through realty de­vel­op­ers and di­rect lend­ing to re­tail cus­tomers. “Our hous­ing fi­nance busi­ness is ex­pected to cross INR1000 crore byMarch2018in­dis­bursed loans and sanc­tioned amounts. With a ded­i­cated team, a roll­out strat­egy in place to tar­get Del­hiNCR 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,” he said.

Pi­ra­mal Hous­ing Fi­nance will be tar­get­ing af­ford­able seg­ment and self-em­ployed cus­tomers in par­tic­u­lar.

It has so far tied up with 15 de­vel­op­ers spread over 7 mi­cro mar­kets in Gu­ru­gram and Noida.

Pi­ra­mal Fi­nance has ap­plied for an as­set re­con­struc­tion com­pany li­cence and is await­ing ap­proval from the Re­serve Bank of In­dia (RBI).

Pi­ra­mal En­ter­prises has as­sets un­der man­age­ment of over Rs50,000 crore in the real es­tate seg­ment. By 2020, the firm ex­pects the loan book for the home loan busi­ness to reach Rs15,000 crore.

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