Piramal Capital launches housing finance business in MP
Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, today announced its foray in Madhya Pradesh with the launch of its housing finance business in Indore.
‘Indore is an important growth market for PCHFL. We are excited to partner with developers & channel partners to strengthen their business and offer housing finance solutions to their customers. Currently, the housing finance business contributes ~10% to PCHFL’s overall loan book, which is expected to increase to 15-18% by March 2020’ informed Khushru Jijina, Managing Director, PCHFL.
PCHFL has 16 branches across 15 cities and will start housing finance operations in Navi Mumbai and Palava in the coming 3-6 months.
Aegon Life Insurance appoints Satishwar Balakrishnan
Aegon Life Insurance announced the appointment of Satishwar Balakrishnan as the new Chief Financial Officer (CFO) of the company. With over two decades of experience in the Insurance and Finance Industry, Satishwar joins Aegon Life from IndiaFirst Life.
‘With addition of Satishwar’s vast experience, we are confident in the ability of our experienced management team to lead Aegon life Insurance into a new phase of profitable growth’ informed Vineet Arora, CEO, Aegon Life
On his appointment, Satishwar shares ‘I look forward to leverage my experience within the life insurance industry to attain and set new achievements and benchmarks’.
Satishwar is a Chartered Accountant by qualification.
Bridgestone India to invest INR 350 crore to expand production capacity
Bridgestone India has announced major expansion plans, in excess of Rs. 350 crore investments, for its Indore plant at Kheda, Madhya Pradesh. Spread over 76 acres, this expansion will enable Bridgestone India to increase the capacity to over 20,000 tyres a day by 2020.
Vivek Porwal, Managing Director, Madhya Pradesh, Industrial Development Corporation Ltd. inaugurated the plant, in the presence of Michio Harada, Consul General of Japan in Mumbai, and Akihiro Eto, COO, Bridgestone Corporation.
Commenting on the occasion, Parag Satpute, MD, Bridgestone India said ‘This expansion is our response to the trust and confidence of our OEM partners in our product offerings. Through this expansion, we also demonstrate our commitment to create value for a larger base of Indian consumers with our world class quality. India’s growth prospects in the mid to long term future are positive. And, Bridgestone India is ready to take the lead in being a trusted partner to our customers, dealers, consumers, and all other stakeholders at large’.