Piramal Finance
Piramal Finance Limited is an India-focused retail NBFC and the listed financial services arm of the Piramal Group, offering home, business, LAP, personal, used car, gold and microfinance loans through 701 branches across 26 states to over 5 million customers, with AI/ML embedded across the lending lifecycle.
- Company typePublic
- Founded1984
- HeadquartersKurla, India
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Piramal Finance does
Piramal Finance Limited is a publicly listed Indian non-banking financial company (NBFC) and the consolidated financial services arm of the Piramal Group, formed through Piramal Group's 2021 acquisition of Dewan Housing Finance Corporation (DHFL) and the September 2025 merger of Piramal Enterprises into Piramal Finance. The company operates a retail-focused lending platform offering home loans (purchase, construction, renovation, extension, balance transfer), loan against property, secured and unsecured business loans, personal loans, used car loans, loan against securities, group-lending microfinance, and a recently launched gold loan vertical. Insurance products are distributed through a corporate agency partnership with Shriram General Insurance, among multiple carrier relationships, generating fee commission income.
Piramal Finance distributes through a 701-branch network spanning 26 states and 13,000+ pin codes targeting semi-urban and rural Bharat markets, supplemented by a website, Android and iOS apps, WhatsApp support, and a toll-free contact center. The portfolio is supported by AI/ML and agentic AI capabilities deployed across the lending lifecycle — including a patent-pending Leverage Risk Model for post-disbursement credit monitoring and agentic AI for document processing — under CTO Saurabh Mittal. In March 2026, an AI Hiring Bot autonomously recruited 262 entry-level sales executives via voice-bot interviews in candidates' preferred languages.
The company earns primarily interest income from its diversified retail loan book (₹85,885 crore of ₹1,01,230 crore total AUM, or 85% retail as of FY26), supplemented by fee and processing income, insurance distribution commissions, and one-off gains from non-core divestments such as the ₹600 crore Shriram Life Insurance stake sale to Sanlam Emerging Markets. Funding is sourced from domestic and international debt markets, including a $350 million IFC/ADB facility, a $400 million ECB consortium led by Deutsche Bank and SMBC, and a planned $1 billion in additional foreign-currency borrowing. Leadership comprises Managing Director Jairam Sridharan, CBO Syed Imtiaz Ahmed, COO Vikas Arora, and CTO Saurabh Mittal. FY26 consolidated revenue was ₹11,253 crore with net profit of ₹1,506 crore (up 210% YoY, partly on exceptional gains), GNPA of 2.1%, and credit ratings of AA+/Stable from CRISIL and CARE and BB/Stable from S&P Global.
Piramal Finance firmographics
Firmographics- Name
- Piramal Finance
- Legal name
- Piramal Finance Limited
- Website
- https://piramalfinance.com
- Company type
- Public
- Founded year
- 1984
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Piramal Finance Limited is an India-focused retail NBFC and the listed financial services arm of the Piramal Group, offering home, business, LAP, personal, used car, gold and microfinance loans through 701 branches across 26 states to over 5 million customers, with AI/ML embedded across the lending lifecycle.
- Ownership category
- akta.pro rank
Piramal Finance industry classification
Industry- Product category
- Retail Lending / NBFC Services
- NAICS
- Commercial Banking (522110), Finance and Insurance (52)
- SIC
- Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)
- akta.pro secondary industries
- SME Term Loans & Growth Capital (FSAKAGAB), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)
Keywords
Where Piramal Finance is headquartered
LocationHeadquarters
- HQ city
- Kurla
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Piramal Finance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Retail Lending: Piramal Finance's primary revenue stream is interest income from its diversified retail loan portfolio, including home loans, business loans, loan against property, personal loans, gold loans, used car loans, and loan against securities. As of FY26, retail AUM stood at ₹85,885 crore forming 85% of total AUM of ₹1,01,230 crore, with net interest income of ₹1,362 crore in Q4 FY26 (up 41% YoY).
- Insurance Distribution Commission: Piramal Finance acts as an Insurance Corporate Agent (IRDAI registration CA0052) for multiple life and general insurance providers including Pramerica Life, Cholamandalam MS, Navi General Insurance, Tata AIG, HDFC ERGO, Go Digit, and Care Health Insurance, earning commission income on insurance products sold through its network.
- Fee and Processing Income: The company earns fee income from loan processing, balance transfer charges, prepayment fees on certain loan products, and other financial services. It also generates one-off exceptional gains from asset sales such as the sale of Piramal Imaging (deferred consideration of $148 million) and Shriram Life Insurance stake (₹600 crore).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Home Loan starting at 9.99% p.a. for balance transfer, 11% p.a. for new loans, with both floating and fixed rate options |
| Subscription | Monthly | Personal Loan starting at 11.25% p.a. with zero foreclosure fees on organic products |
| Subscription | Monthly | Business Loan and LAP with rates starting at 11% p.a., loan amount up to Rs 2 crores |
| Usage-based | Pay-as-you-go | Loan Against Securities with interest charged only on utilized amount |
| Subscription | Monthly | Used Car Loan with quick approval, minimal documentation, and flexible tenure |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Piramal Finance product offering
Product offeringCore offering
Piramal Finance is a retail-focused non-banking financial company (NBFC) in India that provides a range of lending products to individual consumers and micro, small and medium enterprises (MSMEs). Its offerings include home loans, business loans, personal loans, loan against property, used car loans, and gold loans, distributed through a 700+ branch network and digital channels across India.
Product overview
Piramal Finance is a retail-focused non-banking financial company (NBFC) offering a comprehensive suite of lending products under a unified platform architecture. The core product portfolio centers on secured lending including home loans (purchase, construction, renovation, extension, and balance transfer), loans against property and securities, and secured business loans. The company has expanded into unsecured segments including personal loans, business loans, and microfinance group lending. Recent additions include gold loans launched in FY27 and insurance services distributed through corporate agency partnerships. The product ecosystem also includes digital self-service tools (EMI Calculator, Eligibility Calculator) and specialized offerings like Piramal Suvidha EMI and Piramal Saarthi. The company serves over 5 million customers through 700+ branches across India with a strategy focused on semi-urban and rural market penetration.
Differentiator
Problem solved
Functional benefit
Products and services
- Home Loans
Quantifiable outcome
- 210% YoY increase in FY26 net profit to ₹1,506 crore
- +6 more outcomes
Companies that use Piramal Finance
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles2 records
Piramal Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability10 records
Feature3 records
Piramal Finance partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Shriram General InsurancecoreCorporate agency partnership enabling Shriram General Insurance to distribute its insurance products through Piramal Finance's network of 701 branches across 26 states and over 13,000 pin codes. The partnership targets Piramal's base of over 5 million customers in semi-urban and rural markets where insurance coverage remains low, expanding insurance accessibility and supporting broader financial inclusion goals.
- 1Point1 Solutionsminor1Point1 Solutions secured a ₹60 crore, three-year customer experience operations contract from Piramal Finance covering inbound and outbound CX operations for customer service and sales across Piramal Finance's lending portfolio. The deal is delivered from 1Point1's Mumbai and Chennai centres, providing revenue visibility while strengthening its presence in the BFSI vertical.
- IIFL Samasta FinanceminorPiramal Finance was in exploratory early-stage talks to acquire IIFL Samasta Finance, the microfinance arm of IIFL Finance, for an estimated ₹4,000-4,500 crore (approximately 2.2-2.5x price-to-book). IIFL Samasta had a net worth of ₹1,800 crore and loan book of ₹6,600 crore as of December 31, 2025. The primary obstacle is a valuation gap. EY was conducting due diligence. This would be the first major M&A transaction in India's microfinance sector since mid-2024.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
Piramal Finance competitors and assessment
Company assessmentDirect peers
- Tata Capital: Promoted by the Tata Group, Tata Capital offers home loans, personal loans, business loans, and LAP, and is also pursuing an IPO. Comparable in retail NBFC focus, conglomerate promoter backing, and broad product suite aimed at salaried and self-employed segments.
- Bajaj Finance: India's largest retail-focused NBFC offering consumer durable loans, personal loans, business loans, home loans, and LAP. Closest comparable in terms of retail-led strategy, multi-product lending, and consumer-facing distribution, though larger in scale and more diversified.
- Aditya Birla Capital: Aditya Birla Capital is a diversified financial services holding company with NBFC operations spanning home loans, personal loans, SME finance, and insurance distribution. Comparable in conglomerate backing, retail lending mix, and cross-sell strategy.
- Mahindra & Mahindra Financial Services: M&M Financial Services focuses on rural and semi-urban lending, auto/vehicle finance, SME loans, and home loans with deep branch presence in tier 2/3 markets. Highly comparable in targeting Bharat customers and a similar mix of vehicle and secured retail loans.
- Shriram Finance: One of India's largest NBFCs with a stronghold in commercial vehicle finance, used vehicle loans, and small enterprise lending, with growing presence in housing finance and gold loans. Comparable in its focus on underbanked and small-ticket borrowers, and the existing Piramal-Shriram General Insurance tie-up deepens the relevance.
- IIFL Finance: IIFL Finance is a large Indian NBFC offering home loans, LAP, gold loans, personal loans, and microfinance through IIFL Samasta. Comparable across multiple of the same product lines (especially gold and home loans) and an actual potential M&A counterparty for Piramal.
- Cholamandalam Investment and Finance: Chola is a leading Indian NBFC focused on vehicle finance (auto, used cars, tractors) and home equity/LAP, with growing MSME and home loan businesses. Highly comparable in retail lending mix, secured product orientation, and pan-India branch reach.
- L&T Finance Holdings: L&T Finance is a diversified Indian NBFC with home loans, LAP, farm equipment finance, and personal loans, and a strategic objective of becoming a retail-led franchise. Comparable in retail pivot, product mix, and rating agency profile.
Broad incumbents
- HDFC Bank: Post the HDFC Ltd merger, HDFC Bank is India's largest mortgage lender with deep retail home loan, LAP, personal loan, and MSME businesses. It competes directly with Piramal in housing finance but with structural funding cost advantage and far broader deposit franchise.
- ICICI Bank: ICICI Bank is a top private sector Indian bank with a large retail lending franchise across mortgages, personal loans, business loans, and rural banking. Competes with Piramal in retail and rural segments, with structural funding cost and balance sheet advantages.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights8 records
Customer concentration
Piramal Finance social profiles
Digital presencePiramal Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Piramal Finance leadership team
Management profileNumber of profiles
Profiles4 records
Piramal Finance funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Piramal Finance M&A and investment
M&A and investmentM&A1 record
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Piramal Finance
What does Piramal Finance do?
Piramal Finance is a retail-focused non-banking financial company (NBFC) in India that provides a range of lending products to individual consumers and micro, small and medium enterprises (MSMEs). Its offerings include home loans, business loans, personal loans, loan against property, used car loans, and gold loans, distributed through a 700+ branch network and digital channels across India.
Is Piramal Finance a public or private company?
Piramal Finance is a public company. It is classified as unknown and is currently operating.
When was Piramal Finance founded?
Piramal Finance was founded in 1984. It employs 5,001 to 10,000 people.
Where is Piramal Finance based?
Piramal Finance is headquartered in Kurla, India, in the Asia region.
How does Piramal Finance make money?
Three revenue lines are on record. Interest Income from Retail Lending is the primary driver. The others are insurance Distribution Commission and fee and Processing Income.
Who are Piramal Finance's main competitors?
Direct peers on record are Tata Capital, Bajaj Finance, Aditya Birla Capital, Mahindra & Mahindra Financial Services, Shriram Finance, IIFL Finance, Cholamandalam Investment and Finance and L&T Finance Holdings. Broad incumbents are HDFC Bank and ICICI Bank.
Does Piramal Finance have an API?
No public API is recorded for Piramal Finance.
What industry is Piramal Finance in?
Piramal Finance's product category is Retail Lending / NBFC Services. Its primary akta.pro industry code is FSABABAB, SME Business Lending (Term Loans, Lines of Credit, Overdrafts), with a secondary code of FSAKAGAB, SME Term Loans & Growth Capital. Its NAICS code is 522110 and its SIC code is 6159.