The company plans to open 400 new branches in cities of level 2 and level 3 in the next four rooms | Photo credit: Getty images
Poonawala Fincorp actions ended ₹ 384.05 in ₹ 1.80 or 0.47 percent in the NSE.
Poonowalla Fincorp Ltd (PFL), a consumer -centered NBFC and MSME promoted by the Cyrus PoonaWalla group, entered the gold loan market on April 15 with a new product designed to provide a quick minimum against gold assets.
The company plans to open 400 new branches in cities of level 2 and level 3 in the next four quarters to strengthen its insured loan portfolio. This expansion aims to capture growth in the gold loan market, which is projected to see a robust development in urban and rural areas.
‘Natural Progression’
Arvind Kapil, MD & CEO or Fincorp Poonawalla, described the movement as a “natural progression” in the company’s insured loan strategy, emphasizing the safety and transparency of customer assets as basic priorities.
The new offer of gold loans promises approvals in less than 30 minutes with minimum documentation requirements and multiple reimbursement options.
Agree for the company, the gold loan market represents a significant opportunity with low credit risk and resistance to economic uncertainty. PFL has incorporated industry professionals to provide personalized financial solutions in all regions.
Currently, the company operates in 18 states and two union territories with an AUM of approximately ₹ 35,550 million rupees as of March 31, 2025. Its product portfolio includes finance for cars, personal loans, commercial loans and several Oshher financial services.
Posted on April 16, 2025