+
Poonawalla Fincorp Launches Commercial Vehicle Financing Division
ROADS & HIGHWAYS

Poonawalla Fincorp Launches Commercial Vehicle Financing Division

Poonawalla Fincorp (PFL), a non-banking finance company backed by the Cyrus Poonawalla Group, has introduced its Commercial Vehicle (CV) Secured Loan Business. This new financial offering provides funding for small, light, intermediate, and heavy commercial vehicles from all leading manufacturers, including both new and used vehicle purchases.  

Initially, the company will operate in 68 locations across 12 states, with plans to expand to 400 locations across 20 states using a hub-and-spoke model. The loans will be accessible through multiple channels, including direct-to-customer services, dealers, and partners.  

To enhance efficiency, PFL has implemented a technology-driven solution that minimizes documentation requirements and accelerates loan processing times. The system integrates with technology partners to establish robust assessment frameworks, ensuring verification through credible sources.  

The company is strategically targeting India's expanding logistics and transportation sectors, focusing on tier 2 and tier 3 markets. A significant portion of the CV loan portfolio is expected to come from the used commercial vehicle segment.  

As of December 31, 2024, Poonawalla Fincorp reported an Assets Under Management (AUM) of Rs 309.84 billion. The company has a workforce of approximately 2,560 employees, operating across 18 states and two Union Territories.  

News source: The Hindu Businessline

Poonawalla Fincorp (PFL), a non-banking finance company backed by the Cyrus Poonawalla Group, has introduced its Commercial Vehicle (CV) Secured Loan Business. This new financial offering provides funding for small, light, intermediate, and heavy commercial vehicles from all leading manufacturers, including both new and used vehicle purchases.  Initially, the company will operate in 68 locations across 12 states, with plans to expand to 400 locations across 20 states using a hub-and-spoke model. The loans will be accessible through multiple channels, including direct-to-customer services, dealers, and partners.  To enhance efficiency, PFL has implemented a technology-driven solution that minimizes documentation requirements and accelerates loan processing times. The system integrates with technology partners to establish robust assessment frameworks, ensuring verification through credible sources.  The company is strategically targeting India's expanding logistics and transportation sectors, focusing on tier 2 and tier 3 markets. A significant portion of the CV loan portfolio is expected to come from the used commercial vehicle segment.  As of December 31, 2024, Poonawalla Fincorp reported an Assets Under Management (AUM) of Rs 309.84 billion. The company has a workforce of approximately 2,560 employees, operating across 18 states and two Union Territories.  News source: The Hindu Businessline

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?