Piramal Retail Finance, a business of Piramal Capital and Housing Finance Limited, a subsidiary of Piramal Enterprises Ltd., has announced the expansion of its multi-product retail financing platform by investing in consumer and used car finance.
Its CEO Jairam Sreedharan said it would focus on small and medium cities in India and under Piramal’s kitty DHFL should be among the top five non-banking financial companies in five years.
With the latest product introduction, Piramal Retail now offers seven products in its target markets – affordable housing loans, large affluent housing loans, property loan, small business loans, purchase finance, unsecured loans and used car loans.
“Our main target market is the budget client of India [from the 20th largest town to 1000th town in India]. For this customer, housing finance is a very important financial need, ”said Mr. Sreedharan.
“However, they have a wide variety of other needs – to expand their business, to buy a second-hand car. Credit availability for these over-served sectors has been limited. Piramal Retail Finance ‘S expanded multi-product platform aims to cater to these diverse needs and contribute to India’s growth story. ”
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