Poonawalla Fincorp gains after launching gold loan business

Poonawalla Fincorp added 2.25% to Rs 374.55 after the company has launched gold loan business, aiming to expand its portfolio of secured lending products.

This new offering provides a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses.

As part of this initiative, the company seeks to strengthen its presence across Tier 2 and Tier 3 cities with a secured product. It plans to open 400 new branches in a phased approach over the next four quarters. The company facilitates loan access through its branches and localized outreach, having onboarded industry professionals to provide tailored financial solutions and enhance customer experiences across regions.

With faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it - ensuring financial flexibility while preserving long-term wealth.

Arvind Kapil, MD & CEO, Poonawalla Fincorp, said, Our gold loan offering represents a natural progression in our secured lending portfolio, combining traditional value with modern convenience. We have designed this product with the customer journey at its core, respecting both the emotional and financial value of gold. At Poonawalla Fincorp, customer asset safety and transparency remains paramount, while delivering reliable and premium services.

Poonawalla Fincorp is a non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). It offers pre-owned car finance, personal loans, loans for professionals, business loans, loans against property, machinery loans, education loans, commercial vehicle loans, and shopkeeper loans.

The companys consolidated net profit declined 92.9% to Rs 18.73 crore in Q3 FY25 as compared with Rs 265.14 crore in Q3 FY24. Total income jumped 36.6% YoY to Rs 1,057.17 crore in Q3 FY25.

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