Poonawalla Fincorp Shares Up 2% After NBFC Announces Entering Into Gold Loan Business

Last Updated:April 15, 2025, 13:14 IST

Poonawalla Fincorp Limited, a Cyrus Poonawalla Group NBFC, announced its entry into the gold loan business. The stock rose over 2 percent. PFL plans to open 400 new branches to expand its reach.

Poonawalla Fincorp enters Gold Loan Business, stock rises 2%.

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC focused on Consumer & MSME Lending, has announced to enter in the Gold Loan Business.  The scrip witnessed a surge by gaining over 2 per cent in the morning session on Tuesday. Around 10:30 AM, the stocks were trading at Rs 374.50 apiece with a gain of 2.16 per cent.

Commenting on the launch, Mr. Arvind Kapil, MD & CEO, Poonawalla Fincorp, said, “Our gold loan offering represents a natural progression in our secured lending portfolio, combining traditional value with modern convenience. We have designed this product with the customer journey at its core, respecting both the emotional and financial value of gold. At Poonawalla Fincorp, customer asset safety and transparency remains paramount, while delivering reliable and premium services.”

Gold holds significant importance in Indian households as a reliable source of wealth and security, serving as a strategic asset for those needing quick access to funds. The gold loan market in India represents a substantial opportunity, with projections indicating robust growth over the next several years across both urban and rural markets.

PFL To Open 400 New Branches In Tier 2 and Tier 3 Cities

To strengthen its presence across Tier 2 and Tier 3 cities with a secured product, PFL plans to open 400 new branches in a phased approach over the next four quarters. The company facilitates loan access through its branches and localized outreach, having onboarded industry professionals to provide tailored financial solutions and enhance customer experiences across regions.

Built on the pillars of trust, transparency in valuation, security, and governance-first, PFL’s Gold Loan offers reliable solutions to address customers’ financial needs. The company maintains its risk-first approach to delivering timely financial solutions that bridge the credit gap while empowering customers to retain their precious assets. It remains committed to simplifying lending, creating customer delight, and enhancing experiences, which are the company’s top priorities.

It is headquartered in Pune and is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).