Poonawalla Fincorp Enters Gold Loan Segment, Plans 400 Branches

Poonawalla Fincorp, the Cyrus Poonawalla-promoted non-banking finance company, has forayed into the gold loan segment, it said in a release on Tuesday.

Arvind Kapil, managing director and chief executive officer, said the launch is a natural extension of the company’s secured lending portfolio, blending traditional asset-backed lending with modern service delivery.

The company said India’s gold loan market offers strong potential, with growth expected across urban and rural regions over the coming years.

Headquartered in Pune, the company also plans to scale up its physical footprint with 400 new branches across tier-II and tier-III cities in a phased manner over the next four quarters.

As of March 31, Poonawalla Fincorp reported assets under management of ₹355.5 billion, marking a 42.2% rise from a year earlier.

Today, shares of Poonawala Fincorp ended at ₹383.55, up 5% from Friday’s close. Financial markets remained closed on Monday due to Ambedkar Jayanti.