Our financial services biz will overtake pharma this year: Ajay Piramal

Interview with the chairman, Piramal Group & Shriram Group

Piramal Enterprises’ market capitalisation has grown 120 per cent in the past year to Rs 45,029 crore, largely on robust growth from its non-bank finance corporation (NBFC) business. Ajay Piramal, chairman of the Piramal Group and the Shriram Group, spoke to Abhineet Kumar on his plans. Edited excerpts:

Do you expect revenue from your financial services business to overtake revenue from the pharma business in the current financial year?

Income from financial services grew 92 per cent to Rs 3,352 crore in 2016-17; the NBFC business’ loan book grew 87 per cent to Rs 24,000 crore. Revenue from pharma