Piramal Finance share price
NSE: PIRAMALFINBSE: 544597FinanceMid Cap
Piramal Finance Limited · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Nov 2025
Last close ₹1,803.80down ₹56.40 (3.03%)BSE ₹1,804.20
Share price at the NSE close on 28 Oct 2026. Previous close ₹1,860.20.
28 Oct: open ₹1,862.40, high ₹1,865.10, low ₹1,795.10
Range of traded prices from listing on 7 Nov 2025 to 28 Oct 2026
₹1,260.00Low, 7 Nov 2025₹2,326.40High, 9 Sep 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹42,683 Cr216th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 22.48
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,326 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 74.56
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.38
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.61%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 6.5%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,326 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 2.0%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 3,31,10765.7% delivered
About Piramal Finance
Piramal Finance Limited is a retail-led non-banking finance company (NBFC, a lender that is not a bank) operating across India, in the Reserve Bank of India's upper layer for the largest such lenders.1 It lends mainly in semi-urban India, offering home loans, loans against property, used car loans, personal and business loans, digital loans, gold loans and rural micro loans.234 It also lends to real estate developers and mid-sized companies.2
Its businesses are retail lending, wholesale lending, Piramal Alternatives and a life insurance joint venture: through a subsidiary it owns 50% of Pramerica Life Insurance Limited, with Prudential International Insurance Holdings owning the other half.56
It was incorporated in 1984.7 In September 2021 it acquired Dewan Housing Finance Corporation Limited (DHFL) for ₹34,250 crore, the first financial services company resolved under the Insolvency and Bankruptcy Code (India's law for rescuing or closing failed companies).89 It moved from a housing finance licence to that of an NBFC investment and credit company on 4 Apr 2025.10 Its parent, Piramal Enterprises Limited, merged into it with effect from 16 Sep 2025, and its shares were listed on the stock exchanges from 7 Nov 2025.117
Promoter group entities held 46.16% of the shares at the end of Mar 2026, the largest being Anutham Realty Private Limited with 24.78% and The Sri Krishna Trust with 10.02%.12 Anand Piramal is Chairman and Jairam Sridharan is Managing Director and CEO.13
Piramal Finance key points
Results
- Consolidated net profit was ₹545 crore in the quarter to Sep 2026, up 67% from ₹327 crore a year earlier.14
- Total income, which the company counts after interest costs, rose 33% to ₹1,767 crore in the quarter, and pre-provision operating profit (profit before provisions for bad loans and tax) rose 64% to ₹846 crore.1516
- Net income margin (NIM, total income as a share of average AUM) was 6.5% in the quarter, up 35 basis points (hundredths of a percentage point) year on year.17
- Year to Mar 2026: consolidated profit after tax ₹1,506 crore, up 210% from ₹485 crore; total income after interest expense (its measure) up 22% to ₹5,601 crore.1819
Market position
- Its affordable housing loans (average ticket size under ₹35 lakh) were ₹20,917 crore at the end of Mar 2026, and its market share rose from 1.6% to 1.8% in the year.20
Loan book and deposits
- Assets under management (AUM, the loans it manages) were ₹1,13,112 crore at the end of Sep 2026, up 24% from a year earlier; retail AUM was ₹97,462 crore, up 30%.21
- Main retail products by AUM, end of Sep 202622
Item quarter to Sep 2026 Housing loans ₹34,164 crore Loans against property ₹30,486 crore Salaried personal loans ₹9,179 crore Unsecured business loans ₹6,523 crore Digital loans ₹6,299 crore Used car loans ₹6,008 crore Rural micro loans ₹1,762 crore - Wholesale loans to real estate developers and mid-market companies, in a 68:32 mix, were ₹13,978 crore, up 24%. Older loans being run down fell to ₹1,673 crore, 1.5% of AUM.23
- Gross non-performing assets (loans with payments more than 90 days late) were 2.4% and net of provisions 1.7%; retail loans 90 to 180 days past due were 0.7% of retail AUM.242526
Branches and reach
- It had 838 branches in 621 cities across 25 states at the end of Sep 2026: 535 urban, 203 rural and 100 gold loan branches.2728
- Its customers, current and past borrowers and co-borrowers, grew 26% in a year to 6.5 million.29
- On its earnings call of 19 Oct 2026, the company said it aims to have 200 gold loan branches by the end of March 2027.30
Capital and funding
What the company expects
- On its earnings call of 19 Oct 2026, the company said it expects AUM growth of 25% and profit growth of 50% in the year to Mar 2027.3435
- The company said it expects a 2.5% return on AUM (profit over average AUM) from its growth business (all but the older book being run down) in the quarter to Mar 2027, against 2% in the quarter to Sep 2026.363738
- In its presentation of 19 Oct 2026, the company restated long-range goals first disclosed in August 2023: AUM of ₹1.5 lakh crore and AUM of 4.5 to 5.0 times equity by Mar 2028, and a growth business return on AUM above 3%.3938
- On its earnings call of 19 Oct 2026, the company said unsecured loans (loans with no collateral) were 21% of its book and that it eventually wants them to be 25% to 26%.40
Recent events
- On 11 Sep 2026, Moody's upgraded the company's long-term corporate family rating to Ba2 from Ba3, with the outlook revised to stable.41
- The company completed a ₹3,850 crore equity fundraise in the quarter to Sep 2026: a ₹2,100 crore share placement with institutional investors at ₹2,110 a share, closed on 28 Aug 2026, and ₹1,750 crore of warrants (rights to buy shares later) for the promoter group.4243
- On 30 Mar 2026 it completed the sale of its entire stake in Shriram Life Insurance Company Limited to Sanlam Emerging Markets (Mauritius) Limited for ₹600 crore.44
Litigation and regulatory matters
- In its exchange filing of 24 Sep 2026, the company said a proposed insurance regulator rule cutting commissions from 1 Apr 2027 could reduce its return on assets (profit over assets) in the year to Mar 2028 by 18 to 24 basis points before offsets.45
- It earned about ₹200 crore of insurance commission in the year to Mar 2026, ₹140 crore from life and ₹60 crore from non-life insurance; Pramerica Life is the only life insurer whose policies it distributes.46
- In its standalone accounts for the year to Mar 2026, the company said an appeals authority had cut a ₹1,502 crore tax demand on the sale of its pharmaceutical business to Piramal Pharma Limited to ₹9.22 crore, and that this has not been contested.47
Last updated
All 47 sources, each with its page
- 1. Annual report, 10 Jun 2026, page 11
- 2. Annual report, 10 Jun 2026, page 35
- 3. Annual report, 10 Jun 2026, page 62
- 4. Annual report, 10 Jun 2026, page 46
- 5. Annual report, 10 Jun 2026, page 59
- 6. Annual report, 10 Jun 2026, page 182
- 7. Annual report, 10 Jun 2026, page 174
- 8. Annual report, 10 Jun 2026, page 11
- 9. Earnings call, 19 Oct 2026, page 4
- 10. Annual report, 10 Jun 2026, page 570
- 11. Annual report, 10 Jun 2026, page 5
- 12. Annual report, 10 Jun 2026, page 498
- 13. Annual report, 10 Jun 2026, page 138
- 14. Earnings call, 19 Oct 2026, page 8
- 15. Earnings call, 19 Oct 2026, page 8
- 16. Investor presentation, 19 Oct 2026, page 55
- 17. Investor presentation, 19 Oct 2026, page 10
- 18. Annual report, 10 Jun 2026, page 62
- 19. Investor presentation, 19 Oct 2026, page 55
- 20. Annual report, 10 Jun 2026, page 43
- 21. Investor presentation, 19 Oct 2026, page 10
- 22. Investor presentation, 19 Oct 2026, page 24
- 23. Earnings call, 19 Oct 2026, page 8
- 24. Earnings call, 19 Oct 2026, page 8
- 25. Earnings call, 19 Oct 2026, page 7
- 26. Investor presentation, 19 Oct 2026, page 55
- 27. Investor presentation, 19 Oct 2026, page 21
- 28. Investor presentation, 19 Oct 2026, page 12
- 29. Investor presentation, 19 Oct 2026, page 32
- 30. Earnings call, 19 Oct 2026, page 5
- 31. Earnings call, 19 Oct 2026, page 8
- 32. Investor presentation, 19 Oct 2026, page 11
- 33. Annual report, 10 Jun 2026, page 16
- 34. Earnings call, 19 Oct 2026, page 4
- 35. Earnings call, 19 Oct 2026, page 6
- 36. Earnings call, 19 Oct 2026, page 13
- 37. Earnings call, 19 Oct 2026, page 5
- 38. Investor presentation, 19 Oct 2026, page 6
- 39. Investor presentation, 19 Oct 2026, page 4
- 40. Earnings call, 19 Oct 2026, page 12
- 41. Exchange filing, 11 Sep 2026, page 1
- 42. Earnings call, 19 Oct 2026, page 4
- 43. Exchange filing, 28 Aug 2026, page 1
- 44. Exchange filing, 30 Mar 2026, page 1
- 45. Exchange filing, 24 Sep 2026, page 1
- 46. Exchange filing, 24 Sep 2026, page 1
- 47. Annual report, 10 Jun 2026, page 320
Results
Consolidated; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.Piramal Finance quarterly results
Quarter to Sep 2026, against the quarter before
- Income from operationsIncome from operations. The pill is the change in income from operations against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹3,659 Crup 9.04%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹545 Crup 18.32%
Income from operations by quarter
Peak income from operations ₹3,659 Cr, quarter to Sep 2026; lowest ₹2,639 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
| ₹ crore | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Income from operations | 2,639 | 2,872 | 2,918 | 3,424 | 3,368 | 3,659 |
| Net profit | 276 | 327 | 401 | 502 | 461 | 545 |
Consolidated. The 6 quarters from Jun 2025, the first on record. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026
- Income from operations
- ₹11,852 Cr
- Net profit
- ₹1,506 Cr
| ₹ crore | Mar 2026 |
|---|---|
| Income from operations | 11,852 |
| Net profit | 1,506 |
Consolidated. Years to March. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, Financing Activity, which carries all its revenue.
Valuation
Today, against the company's own history.Piramal Finance PE ratio and valuation
Price to book
At or below today's level on 16% of 241 trading days over the last year.
LowestHighest
Its median1.54Industry median1.08
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 100% of 241 trading days over the last year.
LowestHighest
Its median0.00%Industry median0.78%
Mutual fund holdings
146 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 25 of the 54 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 146 funds holding Piramal Finance
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 37
- AddedAdded. Funds that held more shares than at the end of the month before.
- 37
- CutCut. Funds that held fewer shares than at the end of the month before.
- 17
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 55
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 27
| Fund | |||
|---|---|---|---|
 quant Small Cap Fundquant Mutual Fund | 43,35,570 | 2.49% | ₹886.1 Cr |
 Kotak Mid Cap FundKotak Mahindra Mutual Fund | 39,74,588 | 1.22% | ₹812.4 Cr |
 HSBC Midcap FundHSBC Mutual Fund | 29,29,768 | 3.56% | ₹598.8 Cr |
| Kotak Large & Mid Cap FundKotak Mahindra Mutual Fund | 23,50,000 | 1.57% | ₹480.3 Cr |
| Kotak Flexi Cap FundKotak Mahindra Mutual Fund | 18,00,000 | 0.69% | ₹367.9 Cr |
| Kotak Multi Cap FundKotak Mahindra Mutual Fund | 12,87,213 | 0.87% | ₹263.1 Cr |
 Nippon India Growth Mid Cap FundNippon India Mutual Fund | 12,16,058 | 0.50% | ₹248.6 Cr |
 Motilal Oswal Flexi cap FundMotilal Oswal Mutual Fund | 11,97,225 | 1.82% | ₹244.7 Cr |
 Axis Small Cap FundAxis Mutual Fund | 11,70,347 | 0.78% | ₹239.2 Cr |
| Nippon India Value FundNippon India Mutual Fund | 9,11,071 | 2.20% | ₹186.2 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Piramal Finance insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 8 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Piramal Finance competitors and peers
Non Banking Financial Company (NBFC), 279 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Piramal Finance in market cap.Finance companies
Where the company sits among the companies nearest its size
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
 Tata CapitalTATACAP | 1,31,294 | 22.01 | 2.68 | – | – | 14.0% | – | – | – | 0.18% |
 Muthoot FinanceMUTHOOTFIN | 96,059 | 8.45 | 2.45 | +50.7% | +84.8% | 33.2% | – | 6.46% | 12.81% | 1.25% |
 SBI Cards and Payment ServicesSBICARD | 50,204 | 19.25 | 2.92 | +5.8% | +36.0% | 16.3% | – | 3.29% | 11.24% | 0.47% |
 Sundaram FinanceSUNDARMFIN | 43,599 | 19.64 | 2.93 | +13.7% | +15.6% | 15.8% | – | 2.56% | 4.60% | 1.02% |
 Authum Investment & InfrastructureAIIL | 41,956 | 20.03 | 2.85 | −34.5% | −48.8% | 14.2% | 13.3% | – | – | 0.00% |
 HDB Financial ServicesHDBFS | 41,797 | 14.12 | 1.89 | – | – | 14.3% | – | – | – | 0.80% |
 Mahindra & Mahindra Financial ServicesM&MFIN | 36,562 | 10.16 | 1.33 | +14.9% | +45.8% | 13.8% | – | 1.89% | 6.76% | 2.85% |
 Poonawalla FincorpPOONAWALLA | 35,510 | 32.65 | 2.58 | +75.1% | +399.2% | 9.2% | – | 1.14% | 7.30% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer; for NIM and ROA, where the company does not file a lender's accounts or has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.
Dividends
Per share, by the year it was paid for, and the latest payments.Piramal Finance dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹11.00 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 12 Jun 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹11.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Piramal Finance announcements
Oct 2026
28 Oct · Meeting
19 Oct · Updates
Piramal Finance share price by year
Each calendar year to 2025.Piramal Finance share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,643.00 | – | 1,694.90 | 1,323.00 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2025 is from its first session, 7 Nov 2025.
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 1,872.20 | 1,903.90 | 1,851.80 | 1,860.20 | 1,867.03 | 2,06,328 | 62.3% |
| 26 Oct 2026 | 1,860.00 | 1,906.60 | 1,847.60 | 1,898.30 | 1,881.83 | 1,40,271 | 49.8% |
| 23 Oct 2026 | 1,954.90 | 1,970.00 | 1,861.00 | 1,874.40 | 1,897.79 | 1,75,438 | 46.8% |
| 22 Oct 2026 | 2,019.00 | 2,019.00 | 1,900.00 | 1,952.00 | 1,939.15 | 7,09,371 | 53.4% |
| 21 Oct 2026 | 1,957.00 | 2,038.00 | 1,957.00 | 2,019.00 | 2,008.10 | 14,55,802 | 34.9% |
| 19 Oct 2026 | 1,960.00 | 1,970.20 | 1,939.00 | 1,948.70 | 1,951.48 | 1,97,162 | 60.3% |
| 16 Oct 2026 | 1,989.00 | 1,990.90 | 1,941.00 | 1,950.30 | 1,955.11 | 79,762 | 57.2% |
| 15 Oct 2026 | 1,942.00 | 1,986.80 | 1,934.40 | 1,974.70 | 1,964.80 | 2,24,680 | 61.8% |
| 14 Oct 2026 | 2,040.90 | 2,055.20 | 1,933.30 | 1,951.10 | 1,979.90 | 2,55,304 | 55.4% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- PIRAMALFIN
- BSE code
- 544597
- ISIN
- INE202B01038
- Industry
- Finance
- Website
- www.piramalfinance.com
- CIN
- L64910MH1984PLC032639
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1984
- Registered office
- 601, Amiti Building, 6th Floor, LBS Marg, Kurla (W), Piramal Corporate Park, Kamani Junction, Opp. Fire Station, Mumbai 400070, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
Earlier listing: Dewan Housing Finance Corpn. (BSE 511072), delisted on 29 Sep 2021.
In Nifty 500, BSE 500, Nifty Midcap 150, BSE 150 MidCap Index, BSE MidCap, Nifty Total Market