Piramal Capital & Housing Finance Limited (PCHFL), a wholly owned subsidiary of Piramal Enterprises Limited, has unveiled its housing finance business in Ahmedabad.
PCHFL that has a strong grip in wholesale real estate funding in Ahmedabad, has now launched its retail offerings for home buyers (salaried and self-employed). The firm offers company end-to-end real estate financing solutions in the entire capital sector namely structured debt, construction finance, flexible lease rental discounting, housing finance etc. The brand reveals that its housing finance business will offer home loans, loan against property and construction finance in the Ahmedabad market.
On the basis of its strong relationships with developer partners in Ahmedabad, PCHFL has sanctioned and disbursed Rs 2000 crores through its wholesale business. With its retail business in place, PCHFL will be able to provide complete financial solutions across the entire spectrum of real estate.
“Gujarat is an important growth market for us given its smart city and infrastructure development plans. With our entry into Ahmedabad, we are delighted to announce our foray into this crucial market. Our launch is aligned with our strategy of expanding our presence where there is a growing demand for real estate and home loans. This month marks the first anniversary of our housing finance business and we are happy to report that in this one year, our housing finance loan book has sanctioned and disbursed Rs 2400 crore. We are excited to partner with developers in Gujarat to bolster their business as we enter more cities in the coming months,” said Khushru Jijina, Managing Director, Piramal Capital & Housing Finance Ltd, while commenting on the launch.
The housing finance business of PCHFL already has its presence in Mumbai, New Delhi, Pune, Bengaluru, Nashik and now, Ahmedabad. In the next 6-9 months, the company is planning to expand its presence in Chennai, Hyderabad, Jaipur, Nagpur, Surat, Vadodara, Navi Mumbai, Rajkot, Indore etc. By 2020, the company plans to have over 24 branches in Tier 1 and Tier 2 markets in India.