Indore, July 10, 2019: Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, today announced its foray in Madhya Pradesh with the launch of its housing finance business in Indore. The company 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 the Indore market.
With a robust network of 800+ developer relationships and 3,000+ channel partners, the housing finance business of PCHFL has 16 branches across 15 cities. Going forward, in the next 3-6 months, PCHFL plans to open its housing finance operations in Navi Mumbai and Palava.
Commenting on the launch, Mr. Khushru Jijina, Managing Director, Piramal Capital & Housing Finance Limited said, “Indore is an important growth market for PCHFL. This launch marks our foray into Madhya Pradesh and is aligned to our strategy to expand our housing finance presence where there is a growing demand for real estate and home loans. We are excited to partner with developers & channel partners to strengthen their business and offer housing finance solutions to their customers. Currently, the housing finance business contributes ~10% to PCHFL’s overall loan book, which is expected to increase to 15-18% by March 2020.”