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Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of Piramal Enterprises, is seeking bids to sell two pools of non-performing loans (NPLs) worth Rs 702 crore through a Swiss challenge auction. Of the total Rs 702 crore, Rs 282 crore consists of unsecured NPLs, while Rs 420 crore are secured NPLs. Counterbids for the two pools of bad loans are being invited separately by the non-banking finance company, with the condition that all bids must be on a “full cash” basis. The anchor bids have not been disclosed by the lender in the auction document, which has prompted the respective Swiss challenge auctions.

Piramal Capital seeking counterbids to sell Rs 702 cr of bad loans

One Mobikwik Systems (MobiKwik) announced a strategic partnership with Piramal Capital & Housing Finance to provide personal loans to its customers, enhancing access to affordable credit solutions. Through this partnership, MobiKwik users will now be able to apply for and access personal loans seamlessly via the platform. The offering is designed to cater to the diverse financial needs of individuals, whether its managing expenses such as funding education, medical expenses, travel expenses, and other consumption purposes. Under the partnership, MobiKwik app users in India will have access to the loan amount for ZIP EMI ranging from Rs 50,000 to 2 lakh. Eligibility criteria for these loans are income exceeding Rs 25,000 and between the ages of 23 and 55, with payment tenure ranging between 6 months and 24 months.

Mobikwik join hands with Piramal Capital & Housing Finance

Piramal Capital & Housing Finance Limited (Piramal Finance), a leading Non-Banking Financial Company (NBFC), and Punjab & Sind Bank, one of India's premier public sector banks, have entered into a strategic co-lending partnership to enhance credit availability for middle- and low-income borrowers, with a special emphasis on rural and semi-urban regions. This collaboration brings together Punjab & Sind Bank's deep financial expertise and extensive network of 1575 branches with Piramal Finance's unique 'High Tech + High Touch' approach. Additionally, Piramal Finance's strong presence across 514+ branches in 13,000 pin codes, serving 4.5 million customers in 26 states, will further strengthen outreach and accessibility.

Piramal Finance Partners with Punjab & Sind Bank to Boost Lending in Semi-Urban & Rural Areas

Piramal Finance’s GNPA ratio improved to 2.6% by September 2025. Mortgages remain stable, though newer retail segments (business and used car loans) show some delinquency pressure. The wholesale shift is nearly complete: legacy exposure dropped to 6% of AUM, while the fresh "Wholesale 2.0" book (12% of AUM) maintains negligible stress.



Piramal Finance rebounded from a FY2024 loss to a ₹485 crore profit in FY2025, reaching ₹603 crore in H1 FY2026. Growth business profitability is rising, with Return on AUM hitting 1.7% in Q2 FY2026. Future performance depends on controlling operating and credit costs as the portfolio evolves.



The issuer has made timely interest payments.

Jairam Sridharan, Managing Director

Piramal Finance holds a strong capital base with a ₹27,447 crore net worth, 20.7% capital adequacy, and 2.6x gearing. Financial stability is reinforced by the ₹600 crore Shriram Life stake sale, DHFL book recoveries, and deferred tax benefits, providing a robust buffer for growth and provisioning.


Piramal Finance is strategically central to the promoters' financial services vision, benefiting from their direct oversight of governance, capital, and execution. The company enjoys high financial flexibility and the assurance of support from promoter-related entities in case of emergencies.


Piramal Finance’s AUM hit ₹91,447 crore in September 2025, following 27% annualized growth. The mix is 82% retail (mostly mortgages) and 18% wholesale. Notably, legacy wholesale debt (1.0) was slashed from 66% to 6% of AUM, replaced by fresh originations (2.0) at 12%. Gold loans are planned next.


Piramal Finance maintains a diversified borrowing profile via NCDs (37%), bank loans (34%), and CP/ECBs (10% each). Its investor base is led by banks (46%) and mutual funds (13%). While borrowing costs reached 8.9% in FY2025, they remained stable through H1 FY2026.


Security Name: 9.35% Piramal Finance Limited 27 Feb 2026

ISIN: INE140A07799

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