14th March 2018, New Delhi/NCR: Piramal Housing Finance, the wholly owned subsidiary of Piramal Finance, expands its presence in the Delhi-NCR market with the launch of 3 branches in Delhi, Gurugram and Noida. The retail housing finance business will offer home loans, loan against property and smaller ticket construction finance to the developers in Delhi-NCR.
Piramal Finance already has a strong presence in Delhi-NCR market. The strength of these relationships is evident in the quality of partners and projects – The wholesale business in Delhi-NCR has selectively funded/sanctioned close to INR 10,000 crores (across debt and equity) with Tier 1 development partners with a strong track record of execution, since initiating coverage of the region on an integrated basis in March ’14. The platform has also extended its offerings to rental yielding assets as well as commercial office development in 2016. Further, Piramal Finance entered hospitality segment in 2017 by investing in marquee hotel assets within NCR. The wholesale platform has directly funded the delivery of 15,000 residential units with an aggregate market value of INR 17,000 crores.
Leveraging the size, scale and relationships of our lending business, Piramal Finance introduces a retail offering in the market which will complement its existing wholesale business and will enable them to offer the entire spectrum of financial products in real estate. Piramal Housing Finance will further enable development partners in the NCR to target home buyers (both salaried and self-employed) through a range of tailor made products.
Khushru Jijina, Managing Director, Piramal Finance & Piramal Housing Finance said, “We are excited to launch our housing finance offerings to Delhi-NCR – a critical market for us. Since its launch in September 2017 in the Mumbai Metropolitan Region alone, our housing finance business is expected to cross INR 1000crore by March 2018 in disbursed loans and sanctioned amounts. With a dedicated team, a roll out strategy in place to target Delhi-NCR market and a sharp focus on customer centricity, we plan to replicate our Mumbai success in NCR and beyond as we look to triple our retail HFC AUM by March 2019.”
Piramal HFC’s recent innovative offering – the ‘SUPER’ loan – has proved to be an effective tool in up-selling target end users. The product is well suited to the dynamics of the real estate market in NCR, thereby driving velocity of our development partners. The ‘SUPER’ loan factors future income potential whilst assessing the credit parameters for a retail loan and thereby enables the consumer to purchase an ideal home. In fact, the ‘SUPER’ loan also enables individuals to buy their first home at a much younger age (28 years as opposed to the earlier average of 35 years as the first time home buyers’ average age).
In addition, Piramal’s unique sales and research function ‘Brickex’ will also aid in identifying and implementing innovative marketing strategies and facilitating primary sales through newer distributors and channel partners.