The NCLT has approved the merger of Piramal Enterprises Limited (PEL) with its wholly owned subsidiary, Piramal Finance Limited (PFL) on September 10, 2025. With this milestone, Anand Piramal will assume the role of Chairman of Piramal Finance.
Ajay Piramal will continue to chair the Piramal Group. Dr Swati Piramal will continue to serve as Vice Chairperson of the Piramal Group, which comprises Piramal Finance, Piramal Pharma, Piramal Realty and Piramal Foundation.
Since joining in 2019, Anand spearheaded the retail lending platform at Piramal Finance, led the landmark Rs 34,250 crore acquisition of DHFL, and steered the company’s pivot from wholesale real estate lending to a diversified, technology-led NBFC, according to a company statement.
Under Anand’s leadership, the growth business — comprising retail and wholesale 2.0 units — delivered a more than 50 per cent three-year CAGR, making Piramal Finance one of the country’s fastest-growing upper layer NBFCs.
He also oversaw the reduction of the legacy structured real estate book from Rs 43,500 crore in 2022 to less than Rs 5,900 crore now, noted the statement.
Anand has attracted senior talent from leading institutions, including Rupen Jhaveri (group president), Jairam Sridharan (CEO-retail lending), Yesh Nadkarni (CEO-wholesale lending), andKalpesh Kikani (CEO-alternative investments).
Jairam Sridharan will lead as MD and CEO of the merged Piramal Finance, said the NBFC.
During Sridharan’s tenure, the retail business grew from around an Rs 5,300 crore book to nearly Rs 72,000 crore in four years, with branches expanding from 14 to 517 and employees from 1,500 to over 15,500.
Piramal Finance said it has served over five million customers, primarily in underserved segments such as affordable housing and MSMEs. It is the country’s largest affordable housing lender,
providing personal, business, digital, used car, and construction loans.
Building on this legacy, it said, it will continue its mission to empower semi-urban and rural communities with affordable and meaningful credit.
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