Mr. Khushru Jijina is the Managing Director – Piramal Finance Limited and Piramal Housing Finance Limited. A Chartered Accountant with an illustrious career spanning well over three decades in the field of real estate, corporate finance and treasury management, Mr. Jijina has been with the Piramal Group for over 16 years. As Managing Director of Piramal Finance Limited (PFL), the financial services arm of Piramal Enterprises, the flagship company of the Piramal Group, Mr. Jijina spearheads the financial services business of the Piramal Group.
In this role, Mr. Jijina oversees the entire spectrum of activities ranging from origination, investments, asset management, exits and new fund raising performed by a 200+ member management team.Piramal Finance under Mr. Jijina’s leadership, has grown apidly to now provide both wholesale and retail funding opportunities within real estate and non-real estate sectors, such as renewable energy, infrastructure, auto ancillary, cement, logistics, and other sectors.
Within real estate, the platform is capable of providing financing solutions across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance as well as Flexi Lease Rental Discounting (within real estate). Apart from real estate, the wholesale business also includes a separate vertical, called the Corporate Finance Group, which aims to provide customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials and auto components. The platform has also piloted an expansion into lending towards Small and Medium Enterprises (SMEs) with the formation of an Emerging Corporate Lending group. This will enable access to smaller corporates who are typically not covered by traditional wholesale lending channels.
Piramal Enterprises also has a third party fiduciary business – Piramal Fund Management – advising institutional and retail investors alike through opportunistic residential development as well as customized fund management strategies such as the Mumbai Redevelopment Fund focused on slum rehabilitation and the Apartment Fund focused on bulk buying individual units. Mr. Jijina has been instrumental in establishing large separate account mandates and joint ventures with leading global pension funds such as APG, CPPIB and Ivanhoe Cambridge.
Given the size, scale and market relevance of the wholesale lending business, it was a natural progression to assess opportunities within the retail lending space. Piramal Housing Finance Private Limited, a subsidiary licensed by the National Housing Bank (NHB), offers home loans as well as loans against property and construction finance for small developers. Piramal Housing Finance is able to leverage existing relationships with multiple stakeholders (developers, distributors), a sharper focus on the end customer, substantially reduced TATs in both credit scoring and disbursement, use of technology as an enabler and a unique set of differentiators to propel growth within the home finance segment.
Under his leadership, Piramal Finance Limited has received several accolades, including : Best Domestic Fund House by CNBC Awaaz in 2014; Best Overall Investment Manager (India) by Euromoney’s Real Estate Awards for 3years in a row - 2015, 2016 and 2017; and the Firm of the Year (India) by the PEI Global Private Equity Real Estate (PERE) awards in 2014 and 2016.
Prior to this, Mr. Jijina was the Managing Director of Piramal Realty and the Executive Director, Piramal Sunteck Realty, where he was responsible for a portfolio of real estate development projects and oversaw all aspects of their execution. Mr. Jijina joined the Piramal Group in 2001 as Vice President-Treasury, and was instrumental in securing debt at the lowest cost for the group,setting new benchmarks in the debt market. He started his career with Rallis, a TATA Group company, where over a span of more than a decade, he held several pivotal positions in corporate finance and treasury.