/
•
•
How Piramal aims to get to a $20 billion valuation
A retail lending push, demerger of the pharma business and some of DHFL’s bad loans coming good are what his hopes are riding on.
8 March, 2022•17 min
0
8 March, 2022•17 min
0
Getting your Trinity Audio player ready...
Why read this story?
Editor's note: A decade. That’s how long it would have taken Piramal Capital and Housing Finance Ltd to build a substantial retail lending business. But armed with lawyers, a new set of executives and the goodwill of India’s top bankers, the financial services arm of Ajay Piramal’s Piramal Enterprises Ltd has leapfrogged its peers in just a few quarters in its quest to build a household brand. Last June, Piramal Capital and Housing Finance took over Dewan Housing Finance Ltd after its bid was approved by bankers under the Insolvency and Bankruptcy Code process. For Piramal and his long-time lieutenant Khushru Jijina, acquiring DHFL was an attempt to boost PCFHL’s retail loan assets and widen its reach. (Read: DHFL resolution may fetch Piramals a windfall) That’s largely going according to the script. In the two quarters since, PCHFL’s retail loan portfolio has quadrupled, its branch network now stands at over 300 (from just 14 outlets) and its customer base has crossed over a million compared with around 23,000 earlier. Today, it is the fourth largest housing finance company behind HDFC Ltd, LIC …
More in Business
Business
Why Air India is cracking under pressure
From airspace closures to fuel shocks, external factors expose deeper vulnerabilities at the Tata Sons-Singapore Airlines carrier.
You may also like
Business
A mixed bag of a year for Reliance Industries
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
Business
HDFC Bank’s supposed can of worms needs to be opened and investigated
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
Business
Reliance’s growth engines may be losing steam
Telecom and retail, which account for half the conglomerate’s revenue and most of its valuation, aren’t accelerating fast enough to justify their price tags.