The company plans to open 400 new branches across Tier-2 and Tier-3 cities over the next four quarters
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The shares of Poonawala Fincorp ended today at ₹384.05 up by ₹1.80 or 0.47 per cent on the NSE.
Poonawalla Fincorp Ltd (PFL), a consumer and MSME-focused NBFC promoted by the Cyrus Poonawalla Group, entered the gold loan market on April 15 with a new product designed to provide quick financing against gold assets.
The company plans to open 400 new branches across Tier-2 and Tier-3 cities over the next four quarters to strengthen its secured lending portfolio. This expansion aims to capture growth in the gold loan market, which is projected to see robust development in both urban and rural areas.
‘Natural progression’
Arvind Kapil, MD & CEO of Poonawalla Fincorp, described the move as a “natural progression” in the company’s secured lending strategy, emphasising customer asset safety and transparency as core priorities.
The new gold loan offering promises approvals in under 30 minutes with minimal documentation requirements and multiple repayment options.
According to the company, the gold loan market represents a significant opportunity with low credit risk and resilience during economic uncertainty. PFL has onboarded industry professionals to provide tailored financial solutions across regions.
The company currently operates across 18 States and two Union Territories with an AUM of approximately ₹35,550 crore as of March 31, 2025. Its product portfolio includes car finance, personal loans, business loans, and various other financial services.
Published on April 16, 2025
