Piramal Housing Finance, absolutely-owned housing finance subsidiary of Piramal Finance, plans to attain a loan book of Rs 15,000 crore through 2020.
The housing finance unit, which was given its license from National Housing Board on September four this 12 months, already has belongings underneath control (AUM) of over Rs two hundred crores.
It has invested a preliminary fairness capital of Rs 1,000 crore
inside the subsidiary.
The business enterprise will are trying to find to fund the whole spectrum of real estate, from low cost to luxury, and cater to each salaried and self-hired individuals within the tier-2 and 3 cities.
Ajay Piramal, Chairman, Piramal Enterprises, which owns Piramal Finance, stated, “This is an area of B-2-BC (agency to a developer to a client). We have built the Rs 200 crore with 15 of our builders and their 30 projects. We are not such as construction finance to small human beings here… with a purpose to be done independently. This is just housing loans to tier-2 and 3 cities.”
This arm will increase Piramal Finance’s enterprise retail portfolio.
Piramal stated, “Out of approximately eighty housing finance agencies (HFCs), handiest 10 have asset size extra than Rs 10,000 crore and approximately 16 have greater than Rs five,000 crore asset size. So there are not many big players and a majority of HFCs do now not apprehend real estate. Our robust partnerships with developers give us a completely unique part.”
He claims that the Piramal institution, being 2d biggest in actual estate financing, can be at an advantage in its retail housing finance foray.
Piramal Finance’s current wholesale business has over Rs 35,000 crore in property below management (across debt and fairness), with investment throughout three hundred plus tasks and over one hundred development partners.
Piramal stated, “Out of approximately 80 housing finance organizations (HFCs), best 10 have belongings more than Rs 10,000 crore and a majority of HFCs do now not recognize actual property. Our sturdy partnerships with developers supply us a unique side.”
Currently, it has an operational department in Goregaon, suburbs
of Mumbai and plans to open a department in Thane soon.
Khushru Jijina, Managing Director, Piramal Capital stated that the commercial enterprise can be rolled out in Pune, Bangalore and NCR regions.
On the retail aspect, Piramal Finance has an investment of Rs four,583 crores with 20 percent stake in Shriram Capital and 10 percent stake in Shriram Transport Housing Finance and Shriram City Union Finance.
The company has a wholesale loan book of Rs 28,648 crore with actual property constituting Rs 24,924 crore in August 2017. The exchange property below management had been Rs 6,727 crore with real estate contributing Rs 5,727 crore.
On its competition with Shriram Group’s housing finance business, Piramal stated, “Shriram in housing could be very special catering to small cities and smaller amounts, while we can be in bigger ticket length loans. So it will be simplest complimentary and now not compete with it.”
“We are assured that the Finance specific commercial enterprise book model being followed by Piramal HousingHousing Finance will add any other dimension to our carrier providing and setting up a blueprint for in addition boom,” Piramal stated.
The company could be capable of supply a seamless and customer-centric enjoy to all its stakeholders, including people, builders, dealers, companions and now the goal stop customers, Piramal said.
It will are seeking to fund the whole spectrum of actual estate,
from low-priced to luxury, and cater to both salaried and self-hired people.
Anyone thinking of buying a new or a used car, or even leasing one, would do well to start off by investigating and arranging their financial credit. Knowing how much money they can afford to spend on any type of car gives them a much better structure both in terms of whether to buy a new or a used car, or type of model of a particular vehicle will best suit their needs.
By far the most important things to is to obtain a copy of your credit report. A credit report is a document or a dossier that is compiled by one of the main credit rating agencies that are used as a basis for generating a credit score.
A credit score is a determining factor that the credit rating agency and any lender will use in determining whether or not to lend you any money, and if so on what terms and conditions. These terms and conditions normally include things such as the size of a down payment, the length or term of the loan, the interest rates charged, the size of the monthly down payments and anybody repayment charges the event of refinancing loan.
A credit score is essentially a number, that is allocated on a scale between a range of two other numbers. As an example, an individual might have a credit score of 350, set within a range of zero and 700.
The credit report that is used to generate the credit score is a mixture of different items of information that is collected by the credit rating agency. This information will come from a number of sources including the application form will be filled in by the individual applying for the loan.
The information will be both personal in nature, as well as financial both current and historical. The personal information relates to items such as name, any previous names, date of birth, place of birth, current and previous addresses, current and previous employers etc.
The financial information will relate to current credit arrangements with other banks and credit card companies etc, as well as a detailed history of any payment problems or issues etc.
The credit rating agency will also take into account items such as bankruptcies or defaults on loans, or any general patterns of behavior that they interpret as being detrimental to an individual’s capacity to repay a loan.
The main reason why it is important to obtain a credit report is that the individual can check the report to see what items are in it or not. The credit rating agencies are only allowed to include certain items of information for a fixed number of years. Is items of information can vary but are normally those that carry significant impact such as a bankruptcy. This means that after a certain number of years these items have to be removed from the credit report, and subsequently from the credit score.
This means that an individual can take certain steps to make sure that the information in their credit report is up-to-date and contains only the relevant information that it is allowed to include by law.
This can have a significant impact on the actual credit score itself, leading onto a real effect on the loan application and any terms and conditions that may be imposed that relate to the level of the credit score of the individual.
Peter Main is freelance writer who has almost forty years experience in the car industry, and a wide knowledge base of personal finance