KR Srivats Piramal Housing Finance (PHF), the wholly-owned subsidiary of Piramal Finance, is looking to triple its overall housing finance assets under management in 2018-19, a top official said.

The company, which started its operations from Mumbai seven months back, has now entered the Delhi-NCR market with its retail offering.

“In a short span of seven months, we have built a book of ₹1,000 crore. Our entry into Delhi-NCR today and the entry into Bengaluru and Pune in the coming weeks is going to help us ramp up our retail offering and grow our book to about ₹3,000 crore in 2018-19,” Khushru Jijina, Managing Director, Piramal Finance and Piramal Housing Finance, told BusinessLine here on Wednesday.

Jijina, who spearheads the financial services business of the Piramal Group, said that plans are afoot to open 25 branches (for retail housing finance) across the country by 2020.

“We already have two branches in Mumbai. Today, we have started with three branches in Delhi-NCR (Delhi, Noida and Gurugram). It should be possible to scale up to 25 branches across the country by 2020,” he said.

Jijina also said that the retail housing finance business will offer home loans, loan against property and smaller ticket construction finance to developers in Delhi-NCR.

PHF will primarily adopt a B2B2C model in Delhi-NCR as is being done now in Mumbai, he said. The retail housing finance products will also be sold to customers through the direct channel, including online, he added.

Piramal Finance already has a strong presence in the Delhi-NCR market and has sanctioned in excess of ₹10,000 crore of wholesale (developer) loans in this market.

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