• AUM and PAT guidance: Piramal Finance reiterated its 25% AUM growth guidance driven by unsecured lending and loans against property, while targeting 50% PAT growth supported by a further 50–60 basis points reduction in operating expenses to assets.
• Borrowing cost reduction: A credit rating upgrade from AA to AA+ is expected to lower borrowing costs by 50 to 80 basis points over time as existing debt rolls over.
• Rural and gold expansion: Focusing on long-term structural demand rather than urban expansion, the company plans to open about 200 gold loan branches and expand its rural network to around 250 branches by year-end.
• Asset quality outlook: Credit costs were 1.6% in Q1 compared to 1.5% in Q4 and are projected to remain stable over the next few quarters, with underlying risk data showing no signs of deterioration.