Piramal Ent invests Rs 1,000-cr in arm PCHFL for growth

Piramal Enterprises said that it has invested Rs 1,000 crore in Piramal Capital & Housing Finance (PCHFL), a wholly owned subsidiary of the company by way of subscription to rights issue.

PCHFL will utilise the investment towards business/ general corporate purposes. There is no change in the shareholding percentage of the company in PCHFL following the investment, it added.

Piramal Enterprises (PEL) is a leading diversified NBFC in India with a presence across retail lending, wholesale lending, and fund-based platforms. The company has investments and assets worth around $10 billion, with a network of branches across 26 states/UTs.

The NBFC reported a 238.2% surge in consolidated net profit to Rs 162.97 crore on a 9.2% rise in total income to Rs 2,486.18 crore in Q2 FY25 over Q2 FY24.

Shares of Piramal Enterprises declined 1.54% to Rs 1086.90 on the BSE.

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