Piramal Healthcare's plans to enter the financial services segment and funding of real estate and infrastructure, through two nonbanking financial firms. Piramal Health is promoting NBFCs with a capital base of Rs 1,000 crore to fund real estate and infrastructure. However, the foray into financial services comes at a time when the outlook for NBFCs is hazy. Rising interest rates, tightening of regulations by the RBI and intense competition has meant that the sector is no longer as attractive a draw as it was earlier.
With cash on its books aggregating Rs 3,000 crore and receivables of Rs 7,000 crore, Piramal Healthcare has drawn up a plan to invest Rs 24,000 crore in financing after leveraging its equity once. The NCE business and the financial services, which hold the potential for growth, have a low success ratio. It also announced acquisition of IndiaReit Fund Advisors and IndiaReit Investment Managers for an aggregate of Rs 225 crore. crackcrack
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Shriram Finance | 2352.85 |
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