~ Sanctions INR 100 crores in Nashik for its Housing Finance Business ~
- Leverages its robust wholesale relationships with preferred developer partners in Nashik
- Plans to expand its housing finance presence across Ahmedabad, Chennai, Hyderabad, Surat, among others
Nashik, 5th September 2018: Piramal Capital & Housing Finance (PCHF), the wholly owned subsidiary of Piramal Enterprise Limited, today announced the launch of its housing finance business in Nashik. PCHF will offer home loans, loan against property and construction finance to developers in the Nashik market. On the day of its launch, PCHF has sanctioned INR 100 crores for construction finance on the back of already established relationships with preferred developer partners in Nashik.
The housing finance business of PCHF has presence in cities like Mumbai, New Delhi and NCR, Pune, Bengaluru and now in Nashik. Going forward, by end of this fiscal year, the company plans to expand its housing finance presence across cities namely Ahmedabad, Chennai, Hyderabad, Surat, among others.
Commenting on the launch in Nashik, Mr. Khushru Jijina, Managing Director, Piramal Capital & Housing Finance said, “We are delighted to announce the launch of our housing finance business in Nashik – which marks our strategic foray into a select non-metro market. In Maharashtra, Nashik has seen renewed interest in and appetite for real estate. The recently released CREDAI ANAROCK report on Nashik identifies key growth drivers that contribute to the city’s potential including good connectivity, excellent liveability quotient, tourism potential, industrial presence and horticulture production. These factors have led to an increased demand in the real estate sector. Our launch is aligned to our strategy of expanding our presence where there is a growing demand for home loans and construction finance. On the day of our launch itself, we have sanctioned INR 100 crores for construction finance.”
PCHF will enable developer partners in Nashik to target home buyers (both salaried and self-employed) through a range of tailor made innovative products and also provide funding across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance and flexi lease rental discounting. The company has a focused strategy to expand its housing finance business – which is a combination of multiple elements: a unique business model – B2B2C – (business to developer to customer) which is the key differentiator, the existing relationship with preferred developer partners, combined with innovative offerings and unique single window end-to-end financing solutions. Leveraging the size, scale and relationships of its wholesale business, PCHF has introduced its retail offering (housing finance) to complement its existing wholesale business that now enables offerings across the entire spectrum of financial products in real estate.
About Piramal Capital & Housing Finance Limited:
Piramal Capital & Housing Finance Limited (PCHFL), wholly owned subsidiary of Piramal Enterprises Limited (the flagship company of Piramal Group), is registered as a housing finance company with National Housing Bank (NHB) and engaged in various financial services businesses. It provides both wholesale and retail funding opportunities across sectors. In real estate, the platform provides housing finance and other financing solutions across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance and flexi lease rental discounting. The wholesale business in non-real estate sector includes separate verticals- Corporate Finance (CFG) and Emerging Corporate Lending (ECL). CFG provides customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials, auto components etc. while ECL focuses on lending towards Small and Medium Enterprises (SMEs).
PCHFL through its group companies provides customized strategies for institutional and retail investors such as Mumbai Redevelopment Fund and Apartment Fund (through Piramal Fund Management) and strategic partnerships with leading global pension funds such as CPPIB, APG and Ivanhoe Cambridge.
Company Awards:
§ Best Domestic Fund House by CNBC Awaaz in 2014
§ Best Overall Investment Manager (India) by Euromoney’s Real Estate Awards for 3 years in a row - 2015, 2016 and 2017
§ Firm of the Year (India) by the PEI Global Private Equity Real Estate (PERE) awards in 2014 and 2016.
§ Great Places to Work in Financial Services: 2016, 2017
§ MCHI CREDAI Golden Pillar Awards: Piramal Housing Finance - Emerging Home Loan Provider of the Year and Piramal Finance for Leading Real Estate Project Finance Company of the Year
About Piramal Enterprises Ltd:
Piramal Enterprises Limited (PEL) is one of India’s large diversified companies, with a presence in Financial Services, Pharmaceuticals and Healthcare Insights & Analytics. PEL’s consolidated revenues were over US$1.6 billion in FY2018, with around 46% of revenues generated from outside India.
In Financial Services, Piramal Capital & Housing Finance Ltd is registered as a housing finance company with National Housing Bank (NHB) and engaged in various financial services businesses. It provides both wholesale and retail funding opportunities across sectors. In real estate, the platform provides housing finance and other financing solutions across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance, and flexi lease rental discounting. The wholesale business in non-real estate sector includes separate verticals - Corporate Finance Group (CFG) and Emerging Corporate Lending (ECL). CFG provides customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials, auto components etc. while ECL focuses on lending towards Small and Medium Enterprises (SMEs). PCHFL through its group companies provides customized strategies for institutional and retail investors such as Mumbai Redevelopment Fund and Apartment Fund focused (through Piramal Fund Management) and strategic partnerships with leading global pension funds such as CPPIB, APG and Ivanhoe Cambridge. The division has also launched a Distressed Asset Investing platform with Bain Capital Credit - IndiaRF that will invest in equity and/or debt in assets across sectors (other than real estate) to drive restructuring with active participation in turnaround. PEL also has long term equity investments worth ~US$1 billion in Shriram Group, a leading financial conglomerate in India.
In Pharma, through an end-to-end manufacturing capabilities across 13 global facilities and a large global distribution network to over 100 countries, PEL sells a portfolio of niche differentiated pharma products and provides an entire pool of pharma services (including in the areas of injectable, HPAPI etc.). The Company is also strengthening its presence in the Consumer Product segment in India.
PEL’s Healthcare Insights & Analytics business is the premier provider of healthcare analytics, data & insight products and services to the world’s leading pharma, biotech and medical technology companies and enables them to take informed business decisions.
PEL is listed on the BSE Limited and the National Stock Exchange of India Limited in India.