Piramal Enterprises subsidiary Piramal Capital and Housing Finance surpasses ₹50,000 crore in retail AUM

Piramal Finance has launched multiple lending solutions and offers over 13 loan products, including home, business, personal, loan against securities (LAS), and used car loans. The firm said that mortgages remain the dominant part of the portfolio, accounting for 68% of the overall retail AUM, with a 38% year‐on‐year increase in FY24. The firm’s housing loan portfolio has seen significant growth, disbursing an average of ₹800 crore per month in FY24, with an average ticket size of ₹19 lakh, it said.

In 2021, Piramal Finance acquired Dewan Housing Finance Corporation (DHFL) which was the first successful resolution under the Insolvency and Bankruptcy Code (IBC). Following the acquisition, the company’s customer base has increased to 41 lakh while the number of branches in the country has grown from 300 to 490.

Jairam Sridharan, managing director of Piramal Capital and Housing Finance stated that their recent milestone highlights the massive business opportunity offered by small towns across the country.

“Our business will continue to be focused on MSMEs and small salaried individuals across Bharat, providing more people access to formal credit. The company aims to increase the number of branches by 50-100 in the next financial year,” he said.

Piramal Enterprises said it is aiming for retail loans to constitute 75% of the loan book and AUM to hit ₹1.5 lakh crore by fiscal year 2028. As of March 31, 2024, the total AUM stood at ₹68,845 crore, with the retail book accounting for 70% of the book. Shares of the company have declined by nearly 3% since the beginning of the year. The stock has gained over 14% in the last one year.