| Loans | Retail housing finance, loans against property, used car loans, personal and small business loans. Corporate mid-market and real estate loans under Wholesale 2.0. | Strong promoter group, integrated AI underwriting, wide branch network, diversified product portfolio, strategic joint ventures, strong credit ratings. | Retail consumers across India, self-employed and salaried individuals, small and mid-sized businesses, real estate developers, corporate mid-market clients. | Unsecured business loans, digital lending, and secured retail loans with efficient risk-based pricing. | 7929 | 87 | Interest income, processing fees, and service charges on loan products; lending revenue is primary. | Interest rate based on credit risk; fees and commissions on loans and credit products; mix of secured and unsecured lending. | Increasing retail credit demand, AI-driven underwriting efficiency, branch expansion, corporate mid-market growth, real estate financing. | Piramal Home Loans, Piramal LAP, Piramal Used Car Loans, Unsecured Business Loans, Salaried Personal Loans, Digital Loans |
| Asset Management | Investment management and alternative asset fund management. | Established asset management platform with diversified fund offerings and investor network. | Institutional investors, high-net-worth individuals, and family offices. | Management and performance fees from alternative funds. | 65 | 1 | Management fees from committed funds and performance fees. | Fee-based on assets under management and fund performance. | Growing alternative investment demand, fund raising capabilities, investor trust. | Piramal Alternatives |
| Others | Payment services, financial services support, and other ancillary services. | Leverages group ecosystem, expanding service portfolio complementing lending business. | Corporate clients and financial services customers. | Digital payment processing and financial service support. | 14 | 1 | Service fees and commissions. | Fee-for-service model. | Digital payments growth, new subsidiary expansion, financial services digitization. | Piramal Payment Services, Piramal Finance Sales & Service |
