June 25, 2024

Hum Kagaz Se Zyada, NeeyatDekhte Hain” – Piramal Finance Launches Unique Campaign Addressing the Credit Needs of the Underserved Customers of Bharat


Mumbai | January 12th , 2023:  Piramal Capital & Housing Finance Limited, herein referred to as Piramal Finance, the wholly owned subsidiary of Piramal Enterprises Ltd (‘PEL’), today announced the launch of its first brand campaign that focuses on addressing the credit needs of the unserved and underserved sections of Bharat. Titled, “Hum kagaz se zyaadaneeyatdekhtehain”, the clutter breaking campaign highlights the brand’s commitment to look beyond just papers/documentation as means to assess the credit worthiness of its loan seeking customers.

The campaign underscores Piramal Finance’s commitment to customer-centricity and aims to reach out to budget-conscious customers as well as medium and small businesses in Tier 2 and Tier 3 towns across Bharat. The campaign kicks off with two ad films that position Piramal Finance as a brand which focuses on underwriting customers as well as their integrity rather than just papers/documents.

Conceptualized by Womb, the films capture the lives of 2 families which face real-life roadblocks while trying to avail loans and how Piramal Finance is committed to stand by such individuals as well as their families in their pursuit of happiness. With their tailor made product offerings in the form of Home Loans, Business Loans and Personal Loans and Used Car Loans,Piramal Finance provides loans to customers by not only validating the formal credit history and papers/documents, but also evaluating customers on the basis of their intent and integrity – thereby highlighting the differentiated lending experience.

Watch the films:

Further, the company also unveiled the new logo for the customer facing brand ‘Piramal Finance’ for the lending business and all branches across India will be branded with the new logo.

JairamSridharan, Managing Director, Piramal Capital & Housing Finance Limited said, “As we keep expanding deeper into Bharat, we remain focused on offering effective and distinct lending solutions to this large customer segment which is often overlooked by the larger financial ecosystem.  What we hope to do through the campaign and rebranding is to keep building on the strengths of a fresh and strong customer centric lending franchise. A complex demography like India requires simple, effective and impactful lending solutions that come with a deeper understanding of the consumer financing needs of the ecosystem.

We are betting big on Bharat and are happy to open branches, employ local people, and churn these local markets with customizable offerings.As an enterprise, we aim to double the AUM from FY2022 levels, with strong growth in retail disbursements and make the loan book more retail-oriented with a loan mix of 2/3rd Retail and 1/3rd wholesale by FY2027.”

Speaking on the campaign, Arvind Iyer, Head – Marketing, Piramal Capital & Housing Finance Limited said, “There are a lot of people in our country who are unserved and underserved and aren’t deemed credit-worthy for a whole host of reasons, and they have to face many challenges even before they begin their loan journey. At Piramal Finance, we aim to innovate and develop flexible solutions to fulfil the credit needs of this customer segmentand help them achieve their financial goals and aspirations.

Our customer is pivotal to how we engage in business, and we are incredibly thrilled to launch our maiden campaign ‘Hum Kagaz se zyaadaneeyatdekhtehain’. The maiden campaign conveys a strong and positive message that consumers with the right intent to repay their loan can avail themselves of services from Piramal Finance. The campaign marks the birth of our customer brand Piramal Finance, as an NBFC-HFC, serving the needs of the Bharat customer. By giving them simple financing options that build optimism and a sense of abundance, enabled by our solutions.”

Piramal Finance is rapidly expanding its footprint in Tier II and III cities of Bharat. The company’s Innovation coupled with the phygital strategy, has helped develop a multi-product retail-lending platform to enhance its ability to serve the people of Bharat. As PEL successfully completed one year of the DHFL integration journey, the company plans to continue building on the growth momentum.


Key highlights of the retail lending business:

·         At present, the company has a network of 343 branches(from 14 branches pre-merger) in 293 cities and towns across 27 states of India.


·         Aims to be present in 1,000 locations through 500 to 600 branches over the next five years.


·         The retail loan book has grown over four and a half times from the pre-merger level to Rs. 24,872 crores.


·         Customer franchise now stands at ~2.2 Million; 4.5 lakh new customers acquired in Q2 FY22.


·         Launched multiple new products, now offering 11 retail products – including launch of branch led personal loan to salaried individuals in tier 2 & 3 towns.


·         As of Q2 FY23, the company has 22 live partnerships with fintech, OEMs and aggregators under the digital embedded finance business. The digital loan offerings have enabled Piramal Finance to significantly expand its customer franchise, therebyenabling substantial cross sell opportunity.The microfinance business is now present in 3 states (Karnataka, Rajasthan and Bihar).


·         Continues to invest to strengthen technology and analytics to build scale and has recently, launched the ‘Piramal Innovation Lab’ in Bengaluru. The lab will leverage data, artificial intelligence & machine learning (AI/ML) and create customized offerings for the under-served and unserved Bharat market.


·         Piramal Finance aims to have a team of over 300 professionals at the lab in Bengaluru for various tech and business intelligence roles by the end of FY23.

Pre-merger refers to pre-September 30, 2021.