Piramal Capital & Housing Finance Ltd receives ratings from CARE

By Accommodation Times Bureau


Piramal Capital & Housing Finance Limited (‘PCHFL’) has been assigned a long-term rating of ‘CARE AA+; Stable’ for its debt instruments post the scheme of amalgamation of Piramal Finance Limited (‘PFL’) and Piramal Capital Limited (‘PCL’) with PCHFL (erstwhile Piramal Housing Finance Limited).

PCHFL has now become a wholly owned subsidiary of Piramal Enterprises Limited (PEL) and is the flagship entity for the Group’s financial services business.

This rating recognizes the strong performance across both real estate and non-real estate sectors over several quarters, takes into account robust risk management metrics, astringent in-house asset management and monitoring process that has kept NPAs in check despite a strong ramp-up of the lending business.

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