PIRAMAL Housing Finance, the wholly owned subsidiary of Piramal Finance, have forayed to Pune. Piramal Finance have their presence in Pune since 2014 through their wholesale business. The wholesale business has already sanctioned INR 3,250 crores to developers.
Through their housing finance business, they will now offer home loans, loan against property and smaller ticket construction finance to the developers in the Pune market.
Leveraging the size, scale, and relationships of their wholesale business, Piramal Finance have introduced their retail offering to complement their existing wholesale business that now enables offerings across the entire spectrum of financial products in real estate.
Piramal Housing Finance will further enable development partners in Pune to target home buyers (both salaried and self-employed) through a range of tailor-made products. The company has a focused strategy to expand its housing finance business – which is a combination of multiple elements: unique business model – B2B2C – (business to developer to customer) which is the key differentiator, the existing relationship with preferred development partners, combined with innovative offerings and providing end-to-end financing solutions.
Khushru Jijina, managing director, Piramal Finance & Piramal Housing Finance said, “We are delighted to introduce our housing finance business in Pune market. We have a long-dated presence here through a highly experienced team across our entire product portfolio from equity, debt and now housing finance. With the launch of housing finance, we have hired additional 50 specialised local resources to grow our housing finance presence in Pune. We look forward to a positive response from Pune, just the way we have received from our launches in Mumbai, Delhi, and Bengaluru. We are also actively looking to scale up our presence in Maharashtra, including Nashik in the next few months.”
Housing Finance recently also launched their innovative product – ‘SUPER’ loan. ‘SUPER’ loan factors future income potential whilst assessing the credit parameters for a retail loan and thereby enables the consumer to purchase an ideal home. It enables individuals to buy their first home at a much younger age (28 years as opposed to the earlier average of 35 years as the first time home buyers’ average age)
In addition, Piramal Finance also have a unique sales and research function ‘Brickex’ will also aid in identifying and implementing innovative marketing strategies and facilitating primary sales through newer distributors and channel partners.