Ajay Piramal bets big on financial services

The company is planning to launch its housing finance business in four months

Billionaire Ajay Piramal is never tired of reinventing his businesses. After selling the domestic formulation business to Abbott at Rs 17,500 crore in 2010, he has been rebuilding the flagship, Piramal Enterprises.

The company, whose revenues were Rs 3,742 crore in the first half of the financial year, got its biggest chunk, 47 per cent, from the health care arm, which is spread over the contract manufacturing, critical care and consumer products businesses.

 The other two arms — financial services and information management — contributed 39 per cent and 14 per cent, respectively.

But this is set to change. Piramal