Piramal Finance Limited has received a significant endorsement of its financial strength with CRISIL Ratings assigning a long-term rating of AA+/Stable to the company’s non-convertible debentures and bank facilities, while reaffirming its A1+ rating on commercial paper.
The rating marks a key milestone in Piramal Finance’s multi-year transformation into a diversified, retail-led non-banking financial company.
The upgraded rating reflects sustained improvements in asset quality, a granular and expanding retail loan portfolio, strengthening profitability metrics, and a conservative liquidity position. CRISIL also cited Piramal Finance’s robust capital buffers, prudent leverage, and strong promoter backing as key factors supporting the rating, alongside enhanced governance standards and risk management practices.
Over the past few years, Piramal Finance has focused on building a resilient balance sheet supported by diversified and longer-tenor funding sources, advanced underwriting frameworks, and data- and AI-led decision-making across origination, monitoring, and collections. Investments in technology and digital infrastructure have further improved execution efficiency and early risk identification.
Commenting on the development, the company highlighted that the rating enhances its ability to access competitive long-term funding and supports its plans to scale its assets under management while maintaining disciplined growth. Classified as an Upper Layer NBFC by the Reserve Bank of India, Piramal Finance continues to expand its presence across Tier-2 and Tier-3 markets, with a focus on responsible credit expansion and sustainable profitability.
With total outstanding borrowings of around Rs 75,000 crore and a rapidly growing retail franchise, the CRISIL AA+/Stable rating positions Piramal Finance to deepen lender confidence and accelerate its long-term growth strategy.
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