Moving forward, the company is aiming to introduce its housing finance operations in Navi Mumbai and Palava in the next 3-6 months.
Piramal Capital & Housing Finance, the fully-owned subsidiary of Piramal Enterprises Limited, has launched its housing finance business in Indore, foraying into Madhya Pradesh.
In the Indore market, the company will offer its housing finance offerings including home loans, loans against property and small ticket construction finance for home buyers (salaried and self-employed).
PCHFL’s housing finance business has 16 branches across 15 cities, with a robust network of over 800 developer relationships and more than 3,000 channel partners. Moving forward, the company is aiming to introduce its housing finance operations in Navi Mumbai and Palava in the next 3-6 months.
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. Currently, the housing finance business contributes 10% to PCHFL’s overall loan book, which is expected to increase to 15-18% by March 2020.”