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Ajay Piramal plans home loan foray in South

He said the company would require typically six months to do the groundwork for entering into a new city.

Hyderabad: Piramal Housing Finance, a subsidiary of Piramal Finance, has forayed into home fina-nce sector in Bengaluru market on Wednesday.
Speaking to this newspaper, managing director Khushru Jijina said, “Today we have launc-hed our housing finance business in Bengaluru. We already have a significant presence in the south market. We would be entering into Hyderabad and Chennai home finance markets in the next 12-18 months.”

He said the company would require typically six months to do the groundwork for entering into a new city.

The retail housing finance company. which was founded in Septem-ber 2017, will offer home loans, loan against property and smaller ticket construction finance to the developers.

Piramal Finance has a strong presence in southern India through its wholesale business. “We want to this relationship further through our home finance company,” Mr Jijina said.

“Our unique business model B2B2C — business to developer to customer — is the key differentiator. This is a developer relationship driven business where our existing relationships, innovative offerings and end-to-end solutions will help us expand our business,” he said.

He said the company has already given Rs 1,000 crore business in the housing finance segment. It would be offering innovative products like ‘SUPER’ loan for youth, whose future income po-tential would be greater.

( Source : Deccan Chronicle. )
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