PCHFL Upgraded To AA+ (Stable)
Piramal Capital and Housing Finance Limited (PCHFL) recently received an upgraded rating of AA+ (Stable) by ICRA (an affiliate of Moodys) on 4th September, 2018. A subsidiary of Piramal Enterprises Limited, PCHFL received the upgradation from AA (Positive) for its Long-Term Bank Lines, Non-Convertible Debentures Sub-Ordinate (Tier-II) Bonds, financial services with increasing diversification of its asset base, and robust risk management practices.
Speaking to Parsi Times, Managing Director, Piramal Capital and Housing Finance, Khushru Jijina said, “Our existing relationships with our counterparts across sectors, the financial flexibility arising out of being a part of the Piramal Group strong management team with prior experience in retail lending are the key drivers of this rating upgrade. With a goal to increasing diversification granularity across our lending business, the company will continue to grow profitability, raise funds at competitive rates and maintain healthy asset quality.”
Adding to the diverse portfolio, PCHFL announced the launch of its housing finance business in Nashik on 5th September, 2018, thereby offering home loans against property and construction finance to developers in the Nashik market.
