Piramal pushes Rs.3,000 cr in low cost housing

In a bid to bolster its strength in the affordable and mid-income housing projects across metros in the country, Piramal Finance has decided to invest Rs.3,000 crore in the segment and will also scale up the investments to $2 billion by 2020, MD, Piramal Finance, Khushru Jijina said, reiterating that the company has aimed at becoming an end-to-end solution provider helping the developer achieve financial closure for the project developer. He further added that the company will focus not just on the salaried class but also the self-employed through its proprietary channel Brickex. Traditional home loan providers tend to focus on the salaried class which restricts the developer’s ability to generate interest from the self-employed end-users for want of finance. The company will be able to bridge this gap by funding individual home buyers (both salaried and self-employed) through a range of tailor-made products focused on the affordable segment. As a matter of fact, its ability to further drive sales through Brickex and fund those sales through customized home loan products specifically tailored towards salaried as well as self employed end-users acts as unique competitive advantage, he added.

Published: 15 February 2018