Piramal Finance is gearing up for its next phase of expansion with a foray into the gold loan segment by March 2026. Its MD & CEO Jairam Sridharan tells Mahesh Nayak about the company’s transformation into a tech-led, retail-focused NBFC & ambitions to deepen financial inclusion across Bharat. Excerpts:

How has Piramal Finance evolved over the past few years?

It’s been a remarkable journey. Five years ago, we were a 90% wholesale NBFC. Today, we are 83% retail. Our retail-led book has grown 4 times in four years, from Rs 20,000 crore post- DHFL acquisition in 2021 to Rs 90,000 crore now. The era of monoline NBFCs is over. No single product is large enough to sustain a Rs 1 lakh crore book. All large NBFCs today are diversified. We started with that vision and built a multi-product

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