Piramal Finance surpasses ₹50,000 Crore in retail loan AUM

20 Jun 2024 , 10:25 AM

Piramal Finance, part of Piramal Enterprises Limited, announced on June 17 that it has surpassed ₹50,000 crore in Assets Under Management (AUM) for retail loans.

Retail loans have increased by 132% since March 2022. Piramal Finance operates through its subsidiary, Piramal Capital & Housing Finance Ltd.

Mortgages constitute 68% of Piramal Finance’s retail AUM, showing a 38% year-on-year increase in FY24. The housing loan portfolio disburses an average of ₹800 crore per month in FY24, with an average loan size of ₹19 lakh.

Piramal Enterprises aims for retail lending to make up 75% of its loan book. As of March 31, 2024, the total AUM is ₹68,845 crore, with the retail book accounting for 70%. The company plans to grow its AUM to ₹1.5 lakh crore by FY28.

Over the past three years, Piramal Finance has expanded as a leading Non-Banking Financial Company-Housing Finance Company (NBFC-HFC) in affordable lending.

In 2021, Piramal Finance acquired Dewan Housing Finance Corporation Limited (DHFL), marking the first successful resolution under the IBC route in financial services and one of the largest in value terms.

Jairam Sridharan, Managing Director of Piramal Capital & Housing Finance, expressed satisfaction in regaining the company’s position in the affordable housing space, focusing on MSMEs and small salaried individuals across Bharat to provide more access to formal credit.

As of March 31, 2024, Piramal Finance has 490 branches in 26 states/UTs, with a customer base of 4.1 million and an employee count increasing from around 5,000 to over 13,000.

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