Poonawalla Fincorp to sell TPG a housing financing unit for Rs 39 bn

16 Dec 2022 CW Team

At a valuation of Rs 39 billion, Poonawalla Fincorp (PFL) would sell its housing business Poonawalla Housing Finance (PHFL) to Perseus SG, a subsidiary of private equity firm TPG Global. The transaction is pending regulatory approval.

The PFL board accepted the agreement this week.

One of the goals in the company's vision 2025 declaration was the value unlocking of the housing financing business. In keeping with that, PFL looked at part dilution and price discovery as the process's initial steps.

The business claimed to have considered a number of bids, including those for a complete stake purchase. The board determined that a total stake sale would be in the best interests of all stakeholders after conducting a thorough investigation.

PFL informs, this implies a total equity worth of Rs 39 billion.

By the end of September 2022, PHFL's assets under management had increased 31 per cent year over year (YoY) to Rs 56.12 billion.

PFL elaborated on the future, stating that the company aimed to grow its assets under management by 35 to 40 per cent annually over the following three years. The NBFC with its headquarters in Pune aims to consistently generate a return on asset in the range of 4 per cent to 4.5 per cent.

The housing financing unit will soon receive additional equity funding up to Rs 10 billion from global alternative asset management company TPG to boost growth.

Also read:
Global bidders vie for Waverock complex in Hyderabad
Trump-Tribeca partnership plans 3-5 Indian projects next year

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..