Housing Finance Is The Space To Watch Out: Now Piramal Joins The Bandwagon

Joining the housing finance bandwagon billionaire Ajay Piramal promoted Piramal Enterprises incorporated a Housing Finance company named Piramal Finance as a wholly owned subsidiary of the parent company.
 
Piramal Finance will operate in the business of providing financial services focussed at housing sector which has been the buzz word in recent times.
 
Piramal Finance Limited has made an application to National Housing Bank for incorporating HFC as its subsidiary. The proposal has been approved by the company’s Board of Directors.
 
Piramal move into housing finance holds importance given the thrust of the current government’s plan for affordable housing and housing for all, which will provide company immense opportunity in terms of customers.
 
Parent Piramal Enterprises is engaged in range of business from pharmaceuticals to real estate. Company’s Financial Services business also comprises of wholesale lending, alternative asset management and investments.
 
In his personal capacity, the promoter has actively invested in several of Indian companies and start-ups.
 
Share of Piramal Enterprises is likely to be in focus when it opens for trading on Friday, January 6.