Piramal Enterprises Limited announces consolidated results for Q3 and 9M FY2023
Total Assets Under Management (AUM) stood at INR 64,867 Cr.; Retail lending grew to 43% of AUM, from 33% in Q3FY22.
City Air News
Feb 8, 2023 08:08
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Mumbai, February 8, 2023: Piramal Enterprises Limited, a leading diversified NBFC, today announced its consolidated results for the Third Quarter (Q3) and Nine Months (9M) FY2023 ended 31st December 2022.
Ajay Piramal, Chairman, Piramal Enterprises Ltd., said, “Q3 performance is in line with our commitment towards building a large diversified NBFC, with Retail Lending comprising 2/3rd of the assets in the mid to long term.
In retail, we have delivered sustained growth across key parameters over the last one year. We continue to scale our technology led multi-product franchise, focused on fulfilling the credit needs of the “Bharat” market.
In wholesale, we have created one-time additional provisioning buffer during the quarter and are now adequately provided towards Wholesale 1.0 AUM. Simultaneously, we are focused on building the new cash flow / asset backed Wholesale 2.0 book across real estate as well as corporate mid-market lending, by capitalizing on the market gap and leveraging our strengths.
Our endeavor is to continue to create long-term value for stakeholders.”
