Piramal Capital & Housing Finance launches its Housing Finance Business in Jaipur
Jaipur, Aug 13 (IBNS): Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, said on Monday that it is entering the market in Rajasthan with the launch of its housing finance business in Jaipur.
The company said it will provide its housing finance offerings, namely home loans, loans against property and small ticket construction finance for home buyers (salaried and self-employed) in Jaipur.
With a network of over 3,000 channel partners, the housing finance business of PCHFL has 16 branches across 15 cities.
The company said that in the next 3-6 months, PCHFL plans to open its housing finance operations in Navi Mumbai and Palava (Maharashtra).
Khushru Jijina, Managing Director, Piramal Capital & Housing Finance Limited said, “This launch is aligned with our strategy to continue to diversify our loan book by expanding our housing finance presence. Currently, housing finance accounts for 11 per cent (~Rs 6,100 crores) of the overall loan book as of June 2019 and is expected to increase to 16-18 per cent by March 2020.”
PCHFL has three products in its portfolio:
'SUPERLOANS' factor in future income potential while assessing the credit parameters for a retail loan to enable customer to purchase their ideal home. It is designed to enable customers to buy their first home at a much younger age (28 years as opposed to the generally observed average age of 35 years of first-time home buyers).
'AdvantAGE' is a product where in the initial years, the loan is serviced based on the combined income and after a few years, the loan is serviced at a lower EMI based on the income of only one applicant for e.g. father and son.
'Bridge' is a product for customers who wish to buy a new house but have to wait to sell their existing house. Bridge loan gives time to these customers to sell their existing property to the right buyer and covers the funding gap between purchase of new house and sale of existing house.
Piramal Capital & Housing Finance Limited, wholly owned subsidiary of Piramal Enterprises Limited (the flagship company of Piramal Group), is registered as a housing finance company with National Housing Bank (NHB) and engaged in various financial services businesses.
It provides both wholesale and retail funding opportunities across sectors.
In real estate, the platform provides housing finance and other financing solutions across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance and flexi lease rental discounting.
The wholesale business in non-real estate sector includes separate verticals- Corporate Finance (CFG) and Emerging Corporate Lending (ECL).
CFG provides customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials, auto components etc.
ECL focuses on lending towards Small and Medium Enterprises (SMEs).
PCHFL through its group companies, provides customized strategies for institutional and retail investors, such as Mumbai Redevelopment Fund and Apartment Fund (through Piramal Fund Management) and strategic partnerships with leading global pension funds such as CPPIB, APG and Ivanhoe Cambridge.
Piramal Enterprises Limited (PEL) is listed on the BSE Limited and the National Stock Exchange of India Limited in India.
Image Credit: PiramalCHF/Twitter
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