Piramal Capital & Housing Finance Increases Branch Network
In the current financial year 2022-23, Piramal Capital & Housing Finance Limited (PCHFL) expects to hire around 6,000 new staff as part of its aggressive expansion plans. During the same time span, the company plans to expand its branch network from about 300 to almost 400 across India. “We estimate to add 5,000 to 6,000 new employees to our workforce in the next 12 months. Our aim is to ramp up our branch network to 700 to cover 1,000 cities in the next 3-4 years,” Piramal Capital managing director Jairam Sridharan said. He informed the company would convert its existing and new branches into multi-product centres to include MSME lending as well in the portfolio in addition to the housing loans. “Of the 300 odd branches, about 85 branches pan India are already offering MSME loans. We want to increase this number to optimise our operations,” he added. The company would also increase its second hand car finance operations across the country. Meanwhile, Piramal Capital plans to hire 1,000 new staff in Uttar Pradesh alone by the end of the year. Dewan Housing Finance Limited (DHFL) has previously merged over 1,000 personnel in Uttar Pradesh as part of 'Project Sangam,' a programme aimed at cultural and business integration. At present, the PCHFL has a loan book of around Rs. 2,100 crore in UP, and 21 branches covering all the key markets in the state. Sridharan said the company was witnessing a robust demand for low priced housing units across different geographies. He said Piramal was focussing on low ticket size loans of around Rs 15-16 lakh to gain traction in the tier II and III towns. “Lucknow constitutes the 8th largest market for us and still has a lot of potential to grow in the coming years,” he observed. Piramal Capital is a wholly-owned subsidiary of Piramal Enterprises Limited. Following the acquisition of DHFL, Piramal Capital is now among the leading players in the domestic retail lending segment.
Tags : Piramal Capital & Housing Finance Branch Network Dewan Housing Finance Limited (DHFL) Project Sangam Piramal Enterprises Limited