'We are intentionally focused on underserved regions'

Piramal Finance is gearing up for its next phase of expansion with a foray into the gold loan segment by March 2026.

- Jairam Sridharan tells Mahesh Nayak

How heavily in distribution and technology. That has helped us scale rapidly and efficiently.

What defines the next phase of your retail strategy?

The next phase is centred on deepening trust, expanding reach and offering products tailored to Bharat. With 70% of our customers coming from tier-2 and tier-3 cities, we are intentionally focused on underserved, high-growth regions. We currently operate in 428 cities with 517 branches & plan to add 75 more in 3-4 months.

How is Piramal Finance leveraging AI to drive inclusion and scale in Bharat?

Artificial Intelligence (AI) is deeply embedded across our operations, with over 45 models running live to unlock credit access for millions—especially those underserved by traditional metrics, such as CIBIL scores or salary slips. This tech-led approach has helped us reduce our operating cost-to-AUM from 6.5% to 3.9% in just two years, with a target of 3.25-3.75% by FY27. Lower costs mean we can lend more widely and affordably. Over 70% of our customers are from tier-2 and tier-3 cities, many of whom are first-time borrowers.

What’s the current size of your investment book?