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Business Standard
4 hours ago
- Business
- Business Standard
Piramal Enterprises Q1FY26 net profit rises 52%; CFO Goyal resigns
Piramal Enterprises recorded robust growth of 52 per cent year-on-year (Y-o-Y) in its consolidated net profit, reaching ₹276 crore for the quarter ended June (Q1FY26), compared to ₹181.5 crore in the same period a year ago, driven by healthy loan growth. The retail assets under management (AUM) climbed 37 per cent on a yearly basis to ₹69,005 crore, while mortgage AUM grew to ₹47,101 crore, marking a 38 per cent rise. Quarterly disbursements rose 28 per cent YoY to ₹8,718 crore. 'From a profit viewpoint, net profit was substantially up, and even margins expanded by 10 basis points (bps). Operating expenses (Opex) to AUM, an important metric in our business, showed continued efficiency and declined further this quarter,' said Jairam Sridharan, Managing Director, Piramal Finance. AUM of the legacy book declined 51 per cent YoY to ₹6,327 crore, representing an 85 per cent reduction since FY22. 'We have an old legacy book, which we have been working on reducing. That legacy book is now down to 7 per cent of our total book. So, 93 per cent of the book is now the new, so-called growth book, which has shown growth of 38 per cent YoY and is now a little under ₹80,000 crore,' said Sridharan. Regarding asset quality, the gross non-performing asset (GNPA) ratio stood at 2.8 per cent, and the net NPA ratio was at 2 per cent. Q1FY26 is likely the last quarter before the merger of Piramal Enterprises with Piramal Finance, expected to be completed by September 2025. Upma Goyal, who served as the Chief Financial Officer of Piramal Enterprises, has resigned to pursue aspirations outside of the group, the company informed the exchanges. Once PEL merges with Piramal Finance, the current CFO of Piramal Finance, Vikash Singla, will continue as the CFO of the merged entity.
Time of India
4 days ago
- Business
- Time of India
Elan Group repays ₹875 crore debt to PAG's Asia Pragati Fund, strengthens financial position
Elan Group, a Gurgaon-based developer, has repaid Rs 875 crore debt to Asia Pragati Strategic Investment Fund, enhancing its financial flexibility. This strategic move will reduce interest liabilities and create opportunities for reinvestment in future projects and land acquisitions. Recently, the company also raised Rs 250 crore from Piramal Finance for a commercial project. Tired of too many ads? Remove Ads Gurgaon-based developer Elan Group , which has recently raised Rs250 crore from Piramal Finance for the construction of a commercial project in the city, has repaid Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund , part of PAG — one of the largest private investment firms in Asia Asia Pragati invested Rs 875 crores in Elan Group in the year 2022, with the funds used towards growth capital.'In an industry where prudent capital management is key to long-term leadership, this development reinforces Elan Group's position as a future-ready developer with the financial resilience to scale, deliver and lead with conviction,' said Sandeep Agarwal, Executive Director–Finance & Group CFO, Elan strategic deleveraging is expected to reduce interest liabilities, strengthen liquidity and create headroom for reinvestment into future projects and land acquisitions. The enhanced financial flexibility will allow the Group to accelerate construction schedules and deepen its presence in high-opportunity Group holds a portfolio of 15 projects spread across Gurugram and New Delhi, offering a built-up area of approximately 25 million sq. ft. This includes ultra-luxury residential projects such as Elan The Emperor and Elan The Presidential alongside integrated commercial and retail destinations like Elan The Mark, Elan Imperial, Elan Empire, Elan Paradise, Elan Epic, Elan Town Centre, Elan Miracle and Elan company had also raised Rs 1,200 crore funding from Kotak Real Estate Fund last year.
Time of India
14-07-2025
- Business
- Time of India
Elan group raises Rs 250 crore from Piramal Finance
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Gurgaon-based developer Elan Group has raised Rs 250 crore from Piramal Finance for the construction of a commercial project in the city, two people aware of the development construction finance follows Rs 1,200 crorefunding from Kotak Real Estate Fund last year. The company plans to use the funds to fast-track its projects in the 2022, Elan Group had raised $110 million (Rs 900 crore) from global alternative investment firm PAG.'The funding has been raised for a commercial project spread over a million sq ft in Gurgaon ,' said one of the persons cited Group declined to comment. Transaction advisor CBRE could not be contacted for Elan Group had awarded two construction contracts worth Rs 2,000 crore to Leighton Asia for its luxury residential project, Elan The Presidential, in Sector 106, Dwarka Expressway, and its new luxury commercial project, Elan Imperial, in Sector 82, Group's portfolio consists of 15 projects in the residential, retail, commercial and hospitality segments. These projects, spread across Gurgaon and New Delhi, collectively offer about 25 million sq ft of built-up 2022, the group ventured into the luxury residential segment with the launch of Elan The equity investment inflows into the Indian real estate sector reached $2.4 billion (Rs 20,000 crore) in H1 2025, marking a 38% year-on-year increase, according to Savills India, a global real estate consulting firm.
Economic Times
30-06-2025
- Business
- Economic Times
Piramal Enterprises expects asset under management to cross Rs 1 lakh cr in FY26
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi, Piramal Enterprises Chairman Ajay Piramal on Monday said the asset under management (AUM) of the NBFC firm is expected to cross Rs 1 lakh crore during the current financial year on the back of strong consolidated AUM grew by 17 per cent to Rs 80,689 crore, exceeding the stated target of 15 per cent growth during FY25, Piramal said while addressing shareholders at the Annual General Meeting (AGM)."With strong performance across our retail and wholesale businesses in FY2025, we are now well positioned to build upon the platform and leverage the investments that have been made. As our three-year transformation journey nears completion, we look ahead with optimism," he FY2026, he said, "we expect to further build on the momentum, growing our total AUM by about 25 per cent to exceed Rs 1 lakh crore, with growth AUM projected to rise about 30 per cent. Retail lending is expected to contribute 80-85 per cent of total AUM."During the 2024-25, Piramal Capital & Housing Finance Ltd was renamed Piramal Finance Ltd. and converted from an NBFC-Housing Finance Company (HFC) to an NBFC-Investment and Credit Company (ICC).Piramal Finance is classified as an upper-layer NBFC and ranks among the top 10 private-sector NBFCs in India."We have received RBI approval for the merger of Piramal Enterprises and Piramal Finance. The NCLT process is underway and expected to conclude by around September 2025," he FY25, the NBFC had undertaken global borrowings programme, with a total raise of USD 815 million. Of this, USD 550 million was secured through social loans and sustainability-linked bonds. External Commercial Borrowings (ECBs) now constitute 10 per cent of total borrowings, he further said, "Our growth business profits, coupled with monetisation of embedded value, are expected to drive robust earnings in FY2026. We currently estimate consolidated PAT of over Rs 1,300 crore in FY2026, up from Rs 485 crore in FY2025." PTI DP HVA
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Business Standard
30-06-2025
- Business
- Business Standard
Piramal Enterprises sees asset under management crossing ₹1 trn in FY26
Piramal Enterprises Chairman Ajay Piramal on Monday said the asset under management (AUM) of the NBFC firm is expected to cross Rs 1 trillion during the current financial year on the back of strong performance. The consolidated AUM grew by 17 per cent to Rs 80,689 crore, exceeding the stated target of 15 per cent growth during FY25, Piramal said while addressing shareholders at the Annual General Meeting (AGM). "With strong performance across our retail and wholesale businesses in FY2025, we are now well positioned to build upon the platform and leverage the investments that have been made. As our three-year transformation journey nears completion, we look ahead with optimism," he said. In FY2026, he said, "we expect to further build on the momentum, growing our total AUM by about 25 per cent to exceed Rs 1 trillion, with growth AUM projected to rise about 30 per cent. Retail lending is expected to contribute 8085 per cent of total AUM." During the 2024-25, Piramal Capital & Housing Finance Ltd was renamed Piramal Finance Ltd. and converted from an NBFC-Housing Finance Company (HFC) to an NBFC-Investment and Credit Company (ICC). Piramal Finance is classified as an upper-layer NBFC and ranks among the top 10 private-sector NBFCs in India. "We have received RBI approval for the merger of Piramal Enterprises and Piramal Finance. The NCLT process is underway and expected to conclude by around September 2025," he said. During FY25, the NBFC had undertaken global borrowings programme, with a total raise of USD 815 million. Of this, USD 550 million was secured through social loans and sustainability-linked bonds. External Commercial Borrowings (ECBs) now constitute 10 per cent of total borrowings, he said. He further said, "Our growth business profits, coupled with monetisation of embedded value, are expected to drive robust earnings in FY2026. We currently estimate consolidated PAT of over Rs 1,300 crore in FY2026, up from Rs 485 crore in FY2025. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
