Piramal Capital & Housing Finance (PCHFL), which acquired DHFL last year and now has over 10 lakh customers, wants to create 100 branches and grow to 1,000 more locations in the future years.
PCHFL finalized its takeover of the debt-ridden Dewan Housing Finance Ltd (DHFL) in September 2021, forming one of the country’s leading housing finance organizations.
With a network of 301 branches, PCHFL now has access to over 1 million (10 lakh) consumers throughout 24 states, according to a press release.
The company wants to expand its operations to over 1,000 locations in the next three years, with a physical presence in roughly 500-600 cities, to meet the diversified financial needs of the underserved ‘Bharat’ market.
It plans to open another 100 branches in the next 12 months, according to the corporation.
“We merged the two companies to form a single entity. There has been no attrition among former lender workers, and we have been able to finalize employment for all of them. We’re hiring across the board at DHFL, and we’re striving to rekindle business development across the board “PCHFL’s Managing Director, Jairam Sridharan, stated.
The company’s entire asset under management (AUM) climbed 42 percent in the quarter ending September 30, 2021.
“We were able to diversify our loan book and expand our retail lending portfolio as a result of the purchase. We’ll set ourselves apart by targeting borrowers in India’s smaller towns and cities, particularly salaried and non-salaried clients “Sridharan continued.
The retail loan book climbed to Rs 22,273 crore, up 4.3 times from the previous quarter. According to the firm, the share of retail loans climbed from 11% in June 2021 to 33% in September 2021.
Over time, the organization hopes to expand the proportion of retail loans. The book is currently two-thirds wholesale and one-third retail. The company plans to raise retail loans in the medium to long term, first to half of the book, then to two-thirds of the book.
As the lender of choice for budget-conscious customers, our multi-product offerings cater to the needs of underserved customers in Bharat’s tier 2, 3 cities. We’ll employ technology to better understand customers’ risk profiles, and we’ll introduce new products other than mortgages, such as small company loans, MSMEs, and another unsecured lending “Sridharan continued.
The company has stated that it plans to create a large ecosystem of fintech companies, merchants, and electronic aggregators, as well as a platform for client acquisition.
It presently has nine partnerships and is looking for another 20 technology firms to form alliances with to generate new business. The corporation is also counting on the growing Buy Now, Pay Later trend (BNPL).
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