Piramal Group

Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and real estate. It headquartered in Mumbai, Maharashtra, India.

History

In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited (later renamed as Piramal Glass), a manufacturer of glass packaging for pharmaceutical and cosmetic products. In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the pharmaceutical industry. Over the decade, the company acquired many business units to strengthen their presence.

In November 1993, Swiss drug multinational Hoffmann-La Roche sold its Indian subsidiary, Roche Products (India) Ltd to Piramal Enterprises, including its assets like the Vitamin-A producing Fine Chemicals Plant in Balkum, Thane. Roche Products was later renamed Piramal Healthcare Ltd. In 1999, Piramal Glass acquired Ceylon Glass Company Limited, Sri Lanka.[1]

Group companies

The Piramal Group comprises 3 key companies: Piramal Finance Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at both Bombay Stock Exchange and National Stock Exchange.[18]

Piramal Finance

Piramal Finance Limited, earlier known as Piramal Enterprises, is the flagship company of Piramal Group and active in financial services. It is involved in retail lending, housing finance, and vehicle financing.

Earlier, named Piramal Enterprises, it had two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest.[19] It also holds minority stakes in Shriram Group companies.[20]

In 2021, Piramal acquired the bankrupt Dewan Housing Finance Corporation and merged it with PCHFL.[21] PCHFL's retail finance division provides microlending and buy now, pay later services on behalf of partner fintech companies like ZestMoney, Moneyview, EarlySalary, Navi Group and KreditBee, and is also engaged in vehicle financing for partner companies like CARS24, CarDekho and Spinny.[22] Apart from retail finance, it is also involved in corporate lending and real estate finance.[23]

Since 2016, Piramal Enterprises and Bain Capital Credit have been operating a partnership called India Resurgence Fund (IndiaRF), an investment fund for financially distressed Indian companies.[24] Piramal Capital Fund (PCF), a partnership between Piramal Enterprises and CDPQ that was started in 2020, provides corporate financing services.[25] Both IndiaRF and PCF are managed by Piramal Alternatives, an asset management company set up by Piramal Enterprises in 2021.[26]

In 2025, the Piramal Enterprises merged with its subsidiary named Piramal Finance, thus giving it the name. This merger helped the company become an NBFC

Piramal Pharma

Piramal Pharma Limited is active in business verticals including pharmaceuticals, healthcare and life sciences. Its business divisions include Piramal Pharma Solutions, a contract development and manufacturing organization; Piramal Critical Care, a manufacturer of inhalational anesthetics and other hospital generics; and Piramal Consumer Products Division, an over-the-counter consumer healthcare products business.[27] Piramal Pharma Limited was demerged from Piramal Enterprises in 2022.[28]

Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals[29] and Convergence Chemicals.[30] It also has a joint venture with Allergan in the ophthalmology products segment.[31]

Piramal Realty

Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads, at South Mumbai.[32]

type	Private
foundation	1948
location	Mumbai, Maharashtra, India
area served	Worldwide
key people	Ajay Piramal (Chairperson, MD & CEO) Swati Piramal (Vice Chairperson)
industry	Conglomerate
services	Pharmaceutical Healthcare Life sciences Financial services Capital Real estate
revenue	inr 147100000000 (FY22)
operating income	inr 65000000000 (FY22)
net income	inr 19231100000 (FY22)
subsid	Piramal Finance Piramal Pharma Piramal Realty Piramal Foundation
homepage	www.piramal.com

History

Group companies

Piramal Finance

Piramal Pharma

Piramal Realty

Piramal Foundation

See also

External links

References