Poonawalla Fincorp Launches Gold Loan Business

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC focused on Consumer & MSME Lending, has expanded its portfolio of secured lending products with the launch of its Gold Loan Business. This new offering provides a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses.

With faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it - ensuring financial flexibility while preserving long-term wealth.

Commenting on the launch, Mr. Arvind Kapil, MD & CEO, Poonawalla Fincorp, said, "Our gold loan offering represents a natural progression in our secured lending portfolio, combining traditional value with modern convenience. We have designed this product with the customer journey at its core, respecting both the emotional and financial value of gold. At Poonawalla Fincorp, customer asset safety and transparency remains paramount, while delivering reliable and premium services."

Gold holds significant importance in Indian households as a reliable source of wealth and security, serving as a strategic asset for those needing quick access to funds. The gold loan market in India represents a substantial opportunity, with projections indicating robust growth over the next several years across both urban and rural markets. Other than being a secured business, gold loan offers the strength of low credit risk and resilience during economic uncertainty. PFL is strategically positioned to capture this growing opportunity through its customer-centric approach and commitment to delivering premium services tailored to borrowers' needs.

To strengthen its presence across Tier 2 and Tier 3 cities with a secured product, PFL plans to open 400 new branches in a phased approach over the next four quarters. The company facilitates loan access through its branches and localized outreach, having onboarded industry professionals to provide tailored financial solutions and enhance customer experiences across regions.

Built on the pillars of trust, transparency in valuation, security, and governance-first, PFL's Gold Loan offers reliable solutions to address customers' financial needs. The company maintains its risk-first approach to delivering timely financial solutions that bridge the credit gap while empowering customers to retain their precious assets. It remains committed to simplifying lending, creating customer delight, and enhancing experiences, which are the company's top priorities.

Shares of Poonawalla Fincorp Limited was last trading in BSE at Rs. 366.30 as compared to the previous close of Rs. 352.10. The total number of shares traded during the day was 69262 in over 2012 trades.

The stock hit an intraday high of Rs. 367.95 and intraday low of 356.20. The net turnover during the day was Rs. 25084169.00.

Source : Equity Bulls

Keywords

PoonawallaFincorp INE511C01022 NBFC GoldLoanBusiness NewBusinessForay SecuredLending