Poonawalla Fincorp launches consumer durables loans business 

Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC, announced today its entry into the consumer durables loans market along with the introduction of a digital EMI card offering pre-approved limits for customers.

The new business aims to provide faster loan sanctions within five minutes at dealer locations for both salaried and self-employed individuals. PFL will offer flexible EMI structures and competitive interest rates through its retail partner network.

Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, described the launch as “a strategic lever to scale our retail business faster, deeper, and more profitably” that would provide access to millions of new customers.

The company plans to expand into 70 locations across metros and Tier 2 and 3 cities in its first phase, collaborating with 5,000 dealers including regional retailers and small businesses. PFL is also partnering with leading OEMs with significant regional market presence.

PFL cites that consumer durables financing penetration currently stands at 30 percent and is growing rapidly in smaller cities, presenting an opportunity to onboard first-time borrowers seeking financing for electronics and appliances.

The company is also implementing real-time disbursements for dealers, replacing traditional batch processing with faster settlements.

With this launch, PFL has introduced six new businesses as promised, further strengthening its secured lending portfolio. The company currently operates across 18 states and 2 Union Territories with an AUM of approximately ₹35,550 crore as of March 31, 2025.

The shares of Poonawalla Fincorp Limited (PFL) closed today at ₹408.40, up by ₹11.75 or 2.96 per cent on the NSE.

Published on April 22, 2025