The newly-floated wholly-owned subsidiary of Piramal Enterprises, Piramal Housing Finance, which received a licence from the National Housing Bank in the first week of September and has already disbursed Rs.200 crore in the past three weeks is eyeing assets under management worth Rs.15,000 crore by 2020, said Ajay Piramal, Chairman, Piramal Enterprises, adding that it has close relationship with 100 plus developers and they have been persuading the company since it started funding in real estate. He said elaborating that his company will lend across the value spectrum, from affordable to high-end housing, and fund not only the salaried class but also the self-employed. The company has a branch which is operational in Goregaon (Mumbai) and another one will start very shortly in Thane (outskirts of Mumbai) and is looking at growing in Tier-II and Tier-III cities with strong developer relationships. The company currently has more than 15 plus developers who have already asked to start working and start disbursement of loans in 30 of their projects. Managing Director of Piramal Finance, Khushru Jijina said that the turnaround time for giving home loans to the self-employed will be about 11 days as against the current industry average of 21 days while the salaried class will get home loans in two-three days.
📅Published on:
29 September 2017
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