Piramal Finance Dives into Gold Loans !

Piramal Finance, a prominent financial services company, is gearing up to enter a new business segment. Currently providing loans for housing, personal needs, MSMEs, and used cars, the firm is set to venture into gold loans soon, as announced by CEO Jagdeep Mallareddy. He revealed that the company has received necessary approvals from the Reserve Bank of India and plans to launch these services in the near future.

As part of its expansion strategy, Piramal Finance intends to open 50 to 75 new branches over the next four to five years, with a special emphasis on Telangana. The company currently operates 59 branches across Telangana and Andhra Pradesh. Its assets under management stand at Rs 75,000 crore, expected to reach Rs 1 lakh crore by the end of the current financial year and Rs 1.5 lakh crore by the 2027-28 financial year, expressing strong confidence in this growth trajectory.