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Piramal Enterprises’ arm inks pact with India Mortgage Guarantee Corporation

16 Mar 2022 Evaluate

Piramal Enterprises’ wholly-owned subsidiary -- Piramal Capital & Housing Finance (PCHFL) has partnered with India Mortgage Guarantee Corporation (IMGC) to offer home loans ranging from Rs 5-75 lakh to salaried and non-salaried customers. Under this arrangement, IMGC will provide guarantee on a part of the loan so that it is secured in case of a default.  The housing finance company aims to generate 10-12 per cent of its business from this partnership by the end of FY23.

The product 'Gruh Setu Home Loan' aims to cater to the aspirational needs of salaried and self-employed customers across geographies. It is designed to extend loans to individuals who receive salary by bank or cash, pensioners, employees of proprietorships and partnership firms. It will also cater to self-employed professionals like doctors or architects, small business owners, proprietors and partners of partnership firms. The partnership with IMGC will enable the company to deepen its offering through over 300 branches across the country.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

Piramal Ent - Amalga Share Price

1124.60 0.00 (0.00%)
22-Sep-2025 16:59 View Price Chart
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