Latest news with #AjayPiramal
Time of India
2 days ago
- Business
- Time of India
Piramal Enterprises expects asset under management to cross Rs 1 lakh cr in FY26
New Delhi, Piramal Enterprises Chairman Ajay Piramal on Monday said the asset under management (AUM) of the NBFC firm is expected to cross Rs 1 lakh crore during the current financial year on the back of strong performance. The consolidated AUM grew by 17 per cent to Rs 80,689 crore, exceeding the stated target of 15 per cent growth during FY25, Piramal said while addressing shareholders at the Annual General Meeting (AGM). "With strong performance across our retail and wholesale businesses in FY2025, we are now well positioned to build upon the platform and leverage the investments that have been made. As our three-year transformation journey nears completion, we look ahead with optimism," he said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0.00% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Serbia (Prices May Surprise You) Container House Search Now Undo In FY2026, he said, "we expect to further build on the momentum, growing our total AUM by about 25 per cent to exceed Rs 1 lakh crore, with growth AUM projected to rise about 30 per cent. Retail lending is expected to contribute 80-85 per cent of total AUM." During the 2024-25, Piramal Capital & Housing Finance Ltd was renamed Piramal Finance Ltd. and converted from an NBFC-Housing Finance Company (HFC) to an NBFC-Investment and Credit Company (ICC). Live Events Piramal Finance is classified as an upper-layer NBFC and ranks among the top 10 private-sector NBFCs in India. "We have received RBI approval for the merger of Piramal Enterprises and Piramal Finance. The NCLT process is underway and expected to conclude by around September 2025," he said. During FY25, the NBFC had undertaken global borrowings programme, with a total raise of USD 815 million. Of this, USD 550 million was secured through social loans and sustainability-linked bonds. External Commercial Borrowings (ECBs) now constitute 10 per cent of total borrowings, he said. He further said, "Our growth business profits, coupled with monetisation of embedded value, are expected to drive robust earnings in FY2026. We currently estimate consolidated PAT of over Rs 1,300 crore in FY2026, up from Rs 485 crore in FY2025." PTI DP HVA
Economic Times
2 days ago
- Business
- Economic Times
Piramal Enterprises expects asset under management to cross Rs 1 lakh cr in FY26
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi, Piramal Enterprises Chairman Ajay Piramal on Monday said the asset under management (AUM) of the NBFC firm is expected to cross Rs 1 lakh crore during the current financial year on the back of strong consolidated AUM grew by 17 per cent to Rs 80,689 crore, exceeding the stated target of 15 per cent growth during FY25, Piramal said while addressing shareholders at the Annual General Meeting (AGM)."With strong performance across our retail and wholesale businesses in FY2025, we are now well positioned to build upon the platform and leverage the investments that have been made. As our three-year transformation journey nears completion, we look ahead with optimism," he FY2026, he said, "we expect to further build on the momentum, growing our total AUM by about 25 per cent to exceed Rs 1 lakh crore, with growth AUM projected to rise about 30 per cent. Retail lending is expected to contribute 80-85 per cent of total AUM."During the 2024-25, Piramal Capital & Housing Finance Ltd was renamed Piramal Finance Ltd. and converted from an NBFC-Housing Finance Company (HFC) to an NBFC-Investment and Credit Company (ICC).Piramal Finance is classified as an upper-layer NBFC and ranks among the top 10 private-sector NBFCs in India."We have received RBI approval for the merger of Piramal Enterprises and Piramal Finance. The NCLT process is underway and expected to conclude by around September 2025," he FY25, the NBFC had undertaken global borrowings programme, with a total raise of USD 815 million. Of this, USD 550 million was secured through social loans and sustainability-linked bonds. External Commercial Borrowings (ECBs) now constitute 10 per cent of total borrowings, he further said, "Our growth business profits, coupled with monetisation of embedded value, are expected to drive robust earnings in FY2026. We currently estimate consolidated PAT of over Rs 1,300 crore in FY2026, up from Rs 485 crore in FY2025." PTI DP HVA
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Business Standard
2 days ago
- Business
- Business Standard
Piramal Enterprises sees asset under management crossing ₹1 trn in FY26
Piramal Enterprises Chairman Ajay Piramal on Monday said the asset under management (AUM) of the NBFC firm is expected to cross Rs 1 trillion during the current financial year on the back of strong performance. The consolidated AUM grew by 17 per cent to Rs 80,689 crore, exceeding the stated target of 15 per cent growth during FY25, Piramal said while addressing shareholders at the Annual General Meeting (AGM). "With strong performance across our retail and wholesale businesses in FY2025, we are now well positioned to build upon the platform and leverage the investments that have been made. As our three-year transformation journey nears completion, we look ahead with optimism," he said. In FY2026, he said, "we expect to further build on the momentum, growing our total AUM by about 25 per cent to exceed Rs 1 trillion, with growth AUM projected to rise about 30 per cent. Retail lending is expected to contribute 8085 per cent of total AUM." During the 2024-25, Piramal Capital & Housing Finance Ltd was renamed Piramal Finance Ltd. and converted from an NBFC-Housing Finance Company (HFC) to an NBFC-Investment and Credit Company (ICC). Piramal Finance is classified as an upper-layer NBFC and ranks among the top 10 private-sector NBFCs in India. "We have received RBI approval for the merger of Piramal Enterprises and Piramal Finance. The NCLT process is underway and expected to conclude by around September 2025," he said. During FY25, the NBFC had undertaken global borrowings programme, with a total raise of USD 815 million. Of this, USD 550 million was secured through social loans and sustainability-linked bonds. External Commercial Borrowings (ECBs) now constitute 10 per cent of total borrowings, he said. He further said, "Our growth business profits, coupled with monetisation of embedded value, are expected to drive robust earnings in FY2026. We currently estimate consolidated PAT of over Rs 1,300 crore in FY2026, up from Rs 485 crore in FY2025. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India.com
17-06-2025
- Business
- India.com
Meet billionaire who is related to Mukesh Ambani, house worth Rs 450 crores, net worth of Rs 293738023760, he is..., his son...
New Delhi: Piramal Group Chairman Ajay Gopikisan Piramal is Mukesh Ambani's relative. Industrialist Ajay Piramal's son Anand Piramal is married to Mukesh Ambani's daughter Isha. Piramal Group's business is mainly spread in the field of pharmaceutical, healthcare analytics, real estate, financial services and glass packaging. Isha Ambani and Anand Piramal live in a luxurious house spread over 50,000 square feet. This sea-facing bungalow located in Worli, South Mumbai is named 'Gulita'. This house has three basements. The first has a garden. The second has a swimming pool and the third has a parking facility. In the year 2012, Ajay Piramal bought this property from Hindustan Unilever for Rs 452.5 crore. The business tycoon hired an engineering firm from London to remodel this house. According to Forbes, Ajay Piramal's net worth is three billion dollars, Rs 2,45,26,92,00,000 in Indian currency. He is ranked 1032nd in the list of rich people around the world. Ajay Piramal has studied Bachelor of Arts and Science from the University of Mumbai and Master in Business Administration. He started his career in the year 1977 at the age of 22 with his family's textile business. Later he built the pharma industry on his own. Piramal made his biggest deal in 2010 when he sold his domestic formulation business to Abbott Labs for $3.8 billion. In November 2020, Piramal sold his 'Piramal Glass' to private equity firm Blackstone for $1 billion. In 2022, Piramal separated the pharma and financial services business of his Piramal Enterprises. Piramal's wife Swati is the vice chairman of the group while his daughter Nandini and son Anand have board seats. Ajay Piramal's elder brother Dilip is the owner of leading luggage maker VIP. Ajay's grandfather Seth Piramal Chaturbhuj Makharia built the Piramal Gate in Shekhawati to welcome Maharaja Sawai Man Singh II of Jaipur. In the early years of the last century, Seth Piramal Chaturbhuj Makharia arrived in Bombay (now Mumbai) from Bagar in the Shekhawati region of Rajasthan with Rs 50 in his pocket. Seth Piramal traded in cotton, silk, silver, opium and other commodities and became successful. By the year 1920, when he was 28 years old, he acquired Morarji Mills.
News18
11-06-2025
- Business
- News18
Big Leadership Changes At Tata Sons On The Cards: New Priorities To Push The Group
Last Updated: Tata Sons plans a board reshuffle, investing Rs 30,000 crore in emerging businesses. Ralf Speth and Ajay Piramal will depart, and Tata Steel CEO TV Narendran may join the board. Tata Sons is preparing for a significant reshuffle in its boardroom, signalling a generational shift and a renewed focus on growth priorities for the conglomerate. According to The Economic Times report, the company will be looking to appoint new directors as vacancies open up on the board of the Tata Group holding entity. Focusing on future growth, Tata Sons will pump Rs 30,000 crore ($3.5 billion) into emerging businesses like Tata Digital, Tata Electronics, Air India, defence, and battery operations. The defence sector is singled out as a key strategic focus. This investment adds to the $120 billion already earmarked for new initiatives in recent years, according to the ET report. Key Departures on the Horizon at Tata Group Ralf Speth, the former Jaguar Land Rover CEO who joined the board in 2016 in the aftermath of Cyrus Mistry's ouster, is expected to step down in the coming months upon reaching the retirement age of 70. Earlier in April, independent director Leo Puri also stepped down from the board. Another exit is anticipated next year, with veteran industrialist Ajay Piramal, 69, expected to retire mid-2025, in line with the company's board-level age cap of 70. T V Narendran Likely to Join Board Tata Steel CEO and MD TV Narendran is seen as a strong internal contender to fill one of the vacant seats, according to the ET report. 'There are very few senior Tata executives today with the depth of Narendran's experience and leadership," said a senior group executive, as per the report. If appointed, Narendran's elevation would mark a shift toward bringing proven business heads into Tata Sons' core decision-making body. These upcoming board changes mark a gradual evolution from the structure instituted by former chairman Ratan Tata after Cyrus Mistry's dramatic exit. While several earlier appointees are moving on due to age limits, others like Harish Bhat and Banmali Agrawala continue in advisory or leadership roles within specific group businesses. Notably, the retirement rule does not apply to nominees from Tata Trusts. These include Noel Tata, Vijay Singh (76), and Venu Srinivasan (72), who continue to retain their seats. Independent directors Harish Manwani and Anita M. George remain on the board, with Manwani set to continue till 2027. Move to Maintain Private Holding In a related development, Tata Sons has voluntarily applied to surrender its NBFC licence with the RBI after repaying over Rs 20,000 crore in debt. The move is aimed at retaining its structure as a privately held, unlisted entity — a strategic decision aligned with long-term governance and control considerations. First Published: June 11, 2025, 10:17 IST
