Piramal Retail Finance enters consumer & used car finance
April 15, 2021
Eyes ₹3,000 crore of new loan book originations
With a focus on retail lending, Piramal Retail Finance on Thursday announced its foray into consumer and used car finance, even as it expects the retail share of the lending book of the Piramal Group to increase to over 40 per cent with the merger of Dewan Housing Finance Corporation Ltd (DHFL) with Piramal Capital and Housing Finance Ltd.
“The overall lending book is at about ₹45,000 crore, of which ₹5,000 crore or 11 per cent of the total lending book is from retail. DHFL book has got a substantial retail portion as well. By end of the fiscal year, retail share of the financial services business is likely to grow to mid-40s,” said Jairam Sridharan, Chief Executive Officer, Piramal Retail Finance.