Mumbai, Maharashtra, India, April 2025 — Piramal Finance has elevated Syed Imtiaz Ahmed to Chief Business Officer and Vikas Arora to Chief Operating Officer, promoting two longtime executives as the nonbank lender deepens its push into retail finance.
The elevations come as the company advances its transition to a retail-led model, with both leaders having played central roles in expanding scale, improving profitability and strengthening execution.
Imtiaz, who has more than three decades of experience, previously led the company’s housing finance business, its largest segment. In that role, he drove initiatives such as securitization and co-lending to support asset growth and capital efficiency. Before joining Piramal Finance, he spent over 25 years at Axis Bank, where he served as Executive Vice President and Business Head of Mortgages. He will now oversee business strategy and growth.
Vikas, with nearly three decades of experience in retail finance, has led functions including microfinance, sales planning and retail distribution at the company. His work contributed to branch expansion and the rollout of newer segments such as gold loans. He previously served as president and chief operating officer of the retail business at DHFL and held senior roles at Cholamandalam Investment and Finance Company and GE Money. As COO, he will focus on execution, scalability and customer delivery.
The leadership moves reflect Piramal Finance’s emphasis on strengthening internal talent as it builds its next phase of growth.
Piramal Finance recently surpassed Rs. 1 lakh crore in Assets Under Management (AUM), driven by a 4x growth in its retail lending portfolio over the past four years. It serves over 5 million customers through a network of nearly 700 branches across India. Its product suite includes home loans, loans against property, small business loans, digital personal loans, and used car finance to name a few.
About Piramal Finance
Piramal Finance Limited (formerly known as Piramal Capital & Housing Finance Limited) is engaged in the financial services business, offering both wholesale and retail funding opportunities across real estate and non-real estate sectors. The company is committed to delivering innovative solutions, customer-centric services, and long-term value creation. With a focus on building trust and supporting India’s growing financial ecosystem, Piramal Finance continues to expand its footprint and capabilities across the country.
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