Anand Piramal takes charge as Piramal Finance chairman; Sridharan named MD & CEO
Anand, who joined the group in 2019, has played a pivotal role in building the retail lending platform and was instrumental in Piramal’s Rs 34,250 crore acquisition of DHFL
ADVERTISEMENT
The National Company Law Tribunal (NCLT) has approved the merger of Piramal Enterprises Ltd (PEL) with its wholly owned subsidiary Piramal Finance Ltd (PFL). Following the merger, Anand Piramal will take charge as Chairman of Piramal Finance.
Anand, who joined the group in 2019, has played a pivotal role in building the retail lending platform and was instrumental in Piramal’s Rs 34,250 crore acquisition of DHFL. Under his leadership, Piramal Finance’s retail and wholesale businesses have grown at over 50% CAGR in the last three years, with assets under management (AUM) now touching about Rs 89,000 crore. The company has also significantly reduced its legacy structured real estate book to under Rs 5,900 crore from Rs 43,500 crore in 2022.
Ajay Piramal will continue as Chairman of the Piramal Group, which spans finance, pharma, real estate, and philanthropy. Swati Piramal will retain her role as Vice Chairperson.
Meanwhile, Jairam Sridharan, who earlier served as Managing Director of Piramal Finance, has been appointed Managing Director and CEO of the merged entity. Sridharan, with over two decades of experience in retail finance—including as Axis Bank’s CFO—has overseen the expansion of Piramal’s retail lending business from a Rs 5,300 crore book to nearly Rs 72,000 crore. The company’s branch network has grown from 14 to 517, and its workforce from 1,500 to over 15,500 employees during his tenure.
