Piramal Finance

Piramal Finance MD Jairam Sridharan says bank rate transmission to NBFCs remains weak, prompting a stronger shift towards lower-cost DFI funding

Non-bank lender Piramal Finance on Friday reported that its net profit for the December quarter zoomed to Rs 401 crore from Rs 39 crore in the year-ago period. The company's managing director and chief executive, Jairam Sridharan, attributed the profit growth to a combination of factors, including growth in assets under management, expansion in net interest margins, control over operating expenses and lower credit costs. Its AUM jumped by over 23 per cent during the quarter, NIMs expanded by 0.50 per cent to 6.30 per cent, operating expenses grew by just 4 per cent and the provisions were up 36 per cent, as per a statement. The core net interest income grew 31 per cent to Rs 1,227 crore, while the other income was up 23 per cent at Rs 252 crore for the reporting quarter. The return on AUM stands at 1.9 per cent at present, and the company is aiming to take it further up to 3 per cent over the medium term, Sridharan said, adding that NIMs will have to expand by 0.30 per cent more to

Non-bank lender Piramal Finance plans to borrow up to USD 1 billion every year from foreign sources as it seeks to diversify its funding sources, a top official has said. The company has raised USD 350 million from IFC and ADB and is in advanced talks to secure another USD 150 million from a multilateral funding agency over the next three weeks, its Chief Executive and Managing Director Jairam Sridharan said. "We plan to continue to raise USD 500 million-1 billion from foreign sources across multiple routes every year," Sridharan said. In FY25, it had raised USD 800 million through external commercial borrowings and bond issue routes, but had not raised any money from foreign sources in FY26 given the rate cuts which made local borrowing cheaper, he added. The landed cost of funds in rupee terms, including hedging costs for the latest issuances, is in the range of 88.5 per cent, as against the incremental funding cost of 8.75-8.80 per cent for funding from domestic markets, He sai

The transaction is expected to close in the quarter ending March 31, 2026, subject to receipt of requisite regulatory approvals

The company aims to raise RS 300 billion in the current financial year, about half of which has been borrowed already, said chief executive officer and managing director Jairam Sridharan

The brokerage believes Piramal is entering a phase where scale benefits, lower operating costs and a sharper credit framework will drive meaningful expansion in return ratios.

Shares of Piramal Finance, which debuted on BSE after its merger with PEL, hit the upper circuit at Rs 1,333.45, valuing the NBFC at over Rs 30,000 crore

Shares of Piramal Finance were locked in the 5 per cent upper circuit at ₹1,333.45 on the BSE in Friday's intra-day trade.

Piramal Finance Ltd (formerly known as Piramal Capital & Housing Finance Ltd) on Friday said the company wants to achieve AUM size of Rs 1.5 lakh crore by 2028. "We want to build a business that is Rs 1.5 lakh crore in AUM, 3 per cent in return on assets and predictable in terms of profitability. We have spoken about that," Piramal Finance MD and CEO Jairam Sridharan said at the listing ceremony at NSE. The company achieved a 17 per cent growth in total Asset Under Management (AUM) from Rs 68,845 crore as of March 31, 2024, to Rs 80,689 crore as of March 31, 2025. The mix of total AUM across retail and wholesale segments improved to 80:20 as of March 31, 2025, from 70:30 as of March 31, 2024. Piramal Finance got listed at the stock exchanges earlier in the day following the merger of Piramal Enterprises with the former. As many as 22,66,77,700 shares of Rs 2 each were listed on stock exchanges at a price of Rs 1,260 a piece. Speaking at the event, Piramal Finance Chairman Anand ...

Jairam Sridharan, MD & CEO, Piramal Finance shares the rationale of the entire exercise and the growth roadmap for the upper layer NBFC in a conversation with Aathira Varier and Manojit Saha in Mumbai

The total assets under management (AUM) of the lender grew 22 per cent year-on-year (Y-o-Y) to Rs 91,447 crore, with retail AUM rising 36 per cent Y-o-Y to Rs 74,704 crore

Anand Piramal will chair Piramal Finance with Jairam Sridharan as MD and CEO after NCLT approves merger with Piramal Enterprises, effective from the record date

Funds raised through three tranches will be used for onward lending, refinancing, debt repayment and short-term investments, says the Piramal Enterprises NBFC arm

The facility carries a tenor of three years and is fully hedged, ensuring mitigation of foreign exchange and interest rate risks, the press release added

Investment banking sources said the Piramal group is open to acquisitions, though it is not involved in any talks

The diversified non-banking finance company (NBFC) aims to increase its borrowing from international sources to 10 to 12 per cent over the next 2-3 years, up from the current 4 per cent

Electoral bonds: SBI has issued electoral bonds worth Rs 16,518 crore in 30 tranches since the inception of the scheme in 2018

Azad Engineering Ltd has received capital markets regulator Sebi's go-ahead to raise Rs 740-crore through an initial public offering (IPO). The Hyderabad-based firm, which filed its preliminary IPO papers in September, obtained the regulator's observation letter on December 5, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday. In Sebi's parlance, obtaining its observation letter means its go-ahead to float an IPO. According to the draft papers, the company's IPO comprises a fresh issue of up to Rs 240 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors. The OFS consists of sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance. Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes. Azad ..

Capital markets regulator Sebi on Monday slapped fines totalling Rs 20 lakh on two former promoters of Dewan Housing Finance Corp Ltd (DHFL) for flouting disclosure norms. Individually, the regulator levied a penalty of Rs 10 lakh each on Kapil Wadhawan and Dheeraj Wadhawan, who were promoters of DHFL (now known as Piramal Finance). The order came after Sebi conducted an investigation into the transfer of shares held by DHFL in DHFL Pramerica Life Insurance (erstwhile DLF Pramerica Life Insurance) to its wholly-owned subsidiary DHFL Investments and other related transactions. The investigation period was from February-March 2017. In its 45-page order, Sebi's Adjudicating Officer Prasanta Mahapatra said, "I find that complete and adequate information was not disclosed to the shareholders of the company as observed from the postal ballot notice and draft share purchase agreement (SPA), which was the responsibility of the noticee (Kapil Wadhawan and Dheeraj Wadhawan)". The postal bal

In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector