The company has 17 full service branches in Punjab and plans to expand its presence in the near future

Mohali, August 02, 2023: Piramal Capital & Housing Finance Limited, widely recognized as Piramal Finance and a wholly owned subsidiary of Piramal Enterprises Limited (‘PEL’), today announced the launch of its first all-women branch in Punjab at Mohali. Appropriately named ‘Maitreyi,’ this branch exemplifies the Company’s unwavering commitment to fostering diversity and providing women with equal opportunities in the workforce.

With the addition of new branches, Piramal Finance now has 17 full service branches in the state covering markets like Amritsar, Bathinda, Patiala, Jalandhar, Zirakpur, Ludhiana, Hoshiarpur among others. With this, the Company is looking at a 500-600 strong branch network across 1,000 locations as it expands to small towns in India.

‘Maitreyi’ holds great significance as it represents a wise, intelligent and knowledgeable lady, embodying the Company’s belief in the remarkable talent and potential of women professionals who will shape their own destinies while serving customers’ financial needs.

With the inauguration of the ‘Maitreyi’ branch in Punjab, Piramal Finance aims to inspire women nationwide and promote diversity, inclusion, and equal opportunities. By establishing a branch entirely managed by women employees, the Company showcases its belief in the talent and capabilities of women professionals and their contribution to the growth of the organization.

The ‘Maitreyi’ branch in Mohali, Punjab, offers a range of services, including home loans and MSME loans, with the potential for additional features based on customer demand and preferences. This branch is part of Piramal Finance’s strategic expansion plan, which includes opening branches in key cities like Ajmer Road in Rajasthan, Chattarpur in New Delhi, Mumbai in Maharashtra, and Tripunithura in Kerala. These locations have been thoughtfully selected to ensure they align with the needs and preferences of our valued customers, as well as to support Piramal Finance’s overarching business strategy and cater to our target markets.

Each ‘Maitreyi’ branch will have a dedicated team of 7 – 15 women employees, consisting of both internal transfers and new hires. This approach ensures a diverse and talented workforce that can effectively cater to the needs of customers.

On the inauguration of ‘Maitreyi’ branch, Jairam Sridharan, Managing Director of Piramal Finance, said, “We are delighted to inaugurate ‘Maitreyi’ branch in Punjab, a significant step towards fostering gender equality and empowering women in the financial services sector. This women-only branch not only demonstrates our commitment to diversity and inclusion but also serves as a testament to the talent and capabilities of women professionals. Punjab holds immense importance for us as a market, and our growing branch network will strengthen our presence in the state. Through our branches, we aim to provide simplified, efficient, and impactful lending solutions that cater to consumer financing needs.”

Piramal Finance is among the largest Housing Finance Companies (HFCs) in the country and offers a variety of loan products, including housing and MSME loans, to cater to the customers of Bharat in medium and small towns in India. It 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 on 30th June 2023, the Company has a network of 423 branches across 25 states of India and over 3.3 million customers. It further aims to be present in 1,000 locations through 500 to 600 branches over the next five years.