Century Real Estate promoters enter financial services space, launch NBFC

The firm is slowly diversifying into other segments relating to real estate business as part of its initiatives to find varied revenue sources

The Pai family, the promoters of Century Real Estate, one of the oldest real estate firms in Bengaluru, is foraying into financial services space with the launch of a non-banking financial company (NBFC). 

After receiving licence for setting up an NBFC last year, the firm has started small-ticket loans to realtors in the initial phase.

"After getting licence, we are doing some amount of real estate lending now. Ticket sizes are very small now and we are disbursing loans in the range of Rs 50-100 million per deal to realtors," said P Ravindra Pai, managing director (MD) of Century Real Estate, adding,