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Piramal Capital & Housing Finance Ltd, an arm of Piramal Enterprises Ltd, has launched its housing finance business in Ahmedabad. The company already has a strong presence in Mumbai, New Delhi, Pune, Bengaluru, and Nashik.
Having a strong presence in the wholesale real estate funding, the company has now launched retail offerings for home buyers. The housing finance business will offer home loans, loan against property and construction finance, Piramal Capital said in a statement.
After Ahmedabad, the company plans to expand its housing finance business in key cities of Gujarat like Surat, Rajkot, and Vadodara in the next 6-8 months. By 2020, the company plans to have more than 24 branches in Tier 1 & Tier 2 markets in India. The company has so far sanctioned and disbursed Rs 2,000 crore through its wholesale business, the statement said.
Khushru Jijina, Managing Director, Piramal Capital, said: "Our launch is aligned to our strategy of expanding our presence where there is a growing demand for real estate and home loans. This month marks the first anniversary of our housing finance business and we are happy to report that in this one year, our housing finance loan book has sanctioned and disbursed Rs 2,400 crore."
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