Piramal Capital & Housing Finance Limited is a wholly-owned subsidiary of Piramal Enterprises Limited and is registered with the National Housing Bank as a Housing Finance Company. It provides both wholesale and retail financing, including home loans, loan against property, and construction finance to real estate developers.
Debenture trustee
Catalyst Trusteeship Limited
Issuance date
28 Sep 2021
Key terms
Secured by non-exclusive first ranking pari passu charge.
Strong promoter backing from Piramal Enterprises Limited.
Assigned AA rating by CARE and ICRA indicating high safety.
Returns & Cashflow
Units
100
Half Yearly Interest PayoutPrincipal Paid Across Schedule
₹71,874.56Principal Invested
₹13,918Interest earned
₹88,918Final Payout
Interest Payout Schedule
Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date
Interest (₹)
Principal (₹)
28 Mar 2027
₹2,510
₹7,500
28 Sep 2027
₹2,297
₹7,500
28 Mar 2028
₹2,019
₹7,500
28 Sep 2028
₹1,786
₹7,500
28 Mar 2029
₹1,506
₹7,500
28 Sep 2029
₹1,276
₹7,500
28 Mar 2030
₹1,004
₹7,500
28 Sep 2030
₹766
₹7,500
Sign up to view detailed payout schedule
₹33,844 CrAUM
32.3%Capital adequacy
2.5xDebt/Equity
600Employees
16 branches in 15 citiesGeographic
3.5%GNPA
₹11,187 CrNet worth
1.9%NNPA
₹1,034 CrPAT
Financial Trend
YoY -2.7% ↓
Sign up to view Issuer at a glance
Issuer and structure highlights
Strong Promoter Group
Wholly owned subsidiary of Piramal Enterprises Limited, providing strong management and financial support.
High Capitalization
Robust capital adequacy ratio of 32.30% provides a comfortable cushion to absorb external shocks.
Diversified Funding
Access to long-term funding with reduced reliance on short-term commercial papers and robust liquidity.
Key Risks
Asset Quality Risks
High sectoral concentration in real estate has resulted in an increase in non-performing assets.
Integration Risk
The acquisition of DHFL presents significant integration challenges and could impact the near-term credit profile.
Macroeconomic Stress
Prolonged slowdown in the real estate sector and the COVID-19 pandemic pose risks to recovery and growth.
Sign up to view Strengths & Risk
Summarised from the issuer's disclosures and the rating rationale. Read the full offer document and rating rationale before investing.
CARE and ICRA have assigned AA ratings, indicating high safety for timely servicing of financial obligations, supported by strong promoter backing and adequate capitalisation.
Summary points
Rated AA by CARE and ICRA
High degree of safety for obligations
Strong backing from Piramal Group
Rating history timeline
Jul 2021
Ratings placed on Credit Watch with implications
Aug 2021
Ratings placed on Watch with Developing implic.
Outlook implications
The ratings have been placed on 'Credit Watch with Developing Implications' pending clarity on the exact implications of the DHFL acquisition and its impact on the credit risk profile.
Implications for investors
Investors benefit from high credit quality and a low credit risk profile associated with the AA rating.
The rating is on credit watch with developing implications due to the DHFL acquisition, which requires close monitoring by investors.
Watch for: Integration of DHFL and impact on asset quality, leverage, and overall credit risk profile.
Rating Drivers
Promoter Support
Positive
Strong backing from Piramal
Capitalization
Positive
High capital adequacy ratio
DHFL Acquisition
Monitored
Integration and asset risks
Asset Quality
Negative
Stress in real estate loans
How this issuer compares to peers
Benchmark yield, balance-sheet strength, and risk indicators against similar issuers to make the credit case easier to validate.
Where it stands out
Strong parentage and robust capital adequacy.
Housing Finance Non Banking Financial Corpor Wholesale LendingBacked by Piramal Enterprises Limited, the company maintains a high capital adequacy ratio well above regulatory requirements.
Sign up to view Credit Rating Intelligence
Invest
Selected investment units: 100
Trade & Settlement
Settlement date
16 Oct 2026
Orders placed after 4 PM will be executed on the next business day. Weekends and exchange holidays are skipped.
Totals (For Selected Units)
Price per Unit
₹718.75
Investment amount
₹71,874.56
Total Interest
₹13,918
Total Receivable
₹88,918
Regulatory Assurance Panel
Key Information Document
Sign up to view Regulatory Assurance Panel
Blogs
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Senior Secured Bond
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