India’s $1.3 Trillion Housing Bonanza Draws Piramal Loan Bet
Indian billionaire Ajay Piramal wants to sell mortgages and build affordable homes as the drugs-to-data conglomerate seeks to ride an estimated $1.3 trillion housing-investment boom.
Prime Minister Narendra Modi’s government is putting a “huge emphasis” on affordable housing to drive job creation and economic growth, said Piramal, chairman of Piramal Enterprises Ltd, in an interview. “We’ll ride this wave,” he said, pointing to the company’s ties with developers across cities and its deep pockets.
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