Piramal Capital & Housing Finance to hire 6k, to increase branches to 400

Piramal Capital & Housing Finance Limited (PCHFL) is targetting to hire almost 6,000 fresh employees as part of its aggressive expansion plans in the current financial year 2022-23. The company is simultaneously looking to increase its branch network from about 300 to nearly 400 pan India during the same period.

“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 told Business Standard here on Thursday.

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 will add 1,000 new employees to its rolls in Uttar Pradesh alone by the year end. Under ‘Project Sangam’, a programme focused on the cultural and business integration of Dewan Housing Finance Limited (DHFL) with Piramal, the company has already integrated around 1,000 employees in UP.

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.