bg-rating-rationales

Entity-Specific Rating Rationales

13 Jan 2026

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating confirmed as final for Series A1 PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025

24 Dec 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings reaffirmed for securitisation notes issued under mortgage loan securitisation transactions

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Ratings reaffirmed for securitisation notes issued under mortgage loan securitisation transactions

26 Nov 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Phoenix Trust PTC Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Phoenix Trust PTC Oct 2025

08 Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

30 Sep 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AA+(SO) assigned to SNs backed by personal loan receivables issued by NEXA TRUST SEPT 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AA+(SO) assigned to SNs backed by personal loan receivables issued by NEXA TRUST SEPT 2025

29 Sep 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AAA(SO) assigned to PTCs backed by used car loan receivables issued by Naman Trust PTC Sept 2025

26 Sep 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): [ICRA]AA (Stable) assigned to fresh NCD/retail NCD programmes; ratings reaffirmed and rated amount enhanced; rating withdrawn for matured instruments

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): [ICRA]AA (Stable) assigned to fresh NCD/retail NCD programmes; ratings reaffirmed and rated amount enhanced; rating withdrawn for matured instruments

05 Sep 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Provisional [ICRA]AA+(SO) assigned to PTCs backed by personal loan receivables issued by VED TRUST PTC JULY 2025

18 Aug 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for securitisation notes issued under mortgage loan securitisation transaction

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for securitisation notes issued under mortgage loan securitisation transaction

21 Jul 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for securitisation notes issued under mortgage loan securitisation transaction

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited): Rating reaffirmed for securitisation notes issued under mortgage loan securitisation transaction


bg-rating-crediet-reports

Entity-Specific Credit Perspective Reports

27 Nov 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

28 Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

23 Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (Non-SF)

07 Oct 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

05 Sep 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

01 Jul 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

28 Mar 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

27 Jan 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (Non-SF)

15 Jan 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)

13 Jan 2025

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited)

Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) (SF)


Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTCs -- -- [ICRA]AA+(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A SNs -- -- [ICRA]AAA(SO) --
Series A SNs -- -- [ICRA]AAA(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A SN -- -- [ICRA]AAA(SO) --
Series A1 PTCs -- -- Provisional [ICRA]AAA (SO) --

Our Analysts

Analyst 1

Ekta Baheti

Analyst 2

Anubhav Agrawal

Sector Head

Manushree Sagar
bg-rating-research

Most Trending Research Reports


View More
bg-rating-rationales

Rating Rationales

icon-download

View More

ICRA Webinar on the Indian Hospital Industry

Jitin Makkar

21 Jan 2026 04:00 PM
Register now 1 day Left

Union Budget FY2027

K. Ravichandran, Aditi Nayar, Karthik Srinivasan

02 Feb 2026 04:00 PM
Register now 13 days Left

Vehicle Financing by NBFCs- Key Performance Trends

Karthik Srinivasan,A M Karthik,R Srinivasan

13 Jan 2026 04:00 PM

ICRA Market Webinar on Steel Industry - Trends and Outlook

Mr. Girishkumar Kadam,Mr. Ankit Jain,Mr. Sumit Jhunjhunwala

17 Dec 2025 04:00 PM

Podcast

View More

Media Release



View More
Ask Our Industry Analyst Get in touch with our Business Representative
Please enter your name
Please enter your mobile number
Please enter your email id
Please enter your company name
Name should not be greater than 50 characters
Please choose sector
Please enter your query
Query to have atleast ten characters
Query should not be greater than 1,000 characters
Please verify you are not a Robot.