Yesh Nadkarni appointed CEO for wholesale lending at Piramal Capital

Yesh Nadkarni has been appointed the new chief executive officer for wholesale lending at Piramal Capital & Housing Finance Limited (PCHFL). The primary focus of wholesale business is on real estate lending.

Apart from expanding the wholesale business, Yesh will be responsible for building a high-quality granular book across different real estate segments, establishing and strengthening key client relationships and using data analytics/AI to enable superior underwriting.  

Nadkarni joins PCHFL from global investment firm KKR, where he was managing director & CEO of the India real estate lending business. Yesh has over 22 years of real estate investing experience across debt, equity and special situations spanning India, Australia, and Southeast Asia. He has also held senior leadership roles at JP Morgan, and ICICI Prudential. PCHFL is a subsidiary of Piramal Enterprises Ltd.

Khushru Jijina will continue as executive director of financial services on the PEL board. He will continue to lead the treasury function, manage the existing book, lead recoveries from the acquired distressed wholesale book and continue to be a senior guide and mentor to the team.

PCHFL, a subsidiary of Piramal Enterprises Ltd, had wholesale loans of Rs 39,096 crore, about 64 per cent of advances at the end of December 2021. Its provisions pool was about Rs 2,600 crores. Around 90 per cent provisions were for wholesale and roughly 10 per cent for retail.

In February 2022 in an analysts call, the company said that the new approach to wholesale lending will be more calibrated. It will give smaller loans and make the loan book more granular and diversified. In future, focus will be on cash-flow-backed lending and high-yield loans will be done under the fund structures.