Poonawalla Fincorp Limited (PFL), a NBFC backed by the Cyrus Poonawalla Group, has announced the launch of its Commercial Vehicle (CV) Secured Loan Business. This new offering will cater to the financing needs of small, light, intermediate, and heavy commercial vehicles, including both new and used vehicle purchases.
As of 11.55 am today, the shares of Poonawalla Fincorp Limited (PFL) were trading at ₹289.40, up by ₹8.05 or 2.86 per cent on the NSE.
The company plans to operate initially in 68 locations across 12 states and aims to expand to 400 locations in 20 states through a hub-and-spoke model. The loans will be made available through various channels such as direct-to-customer, dealers, and partners.
PFL has introduced a technology-driven solution to streamline the documentation process and accelerate processing times. The system is integrated with technology partners to develop assessment frameworks with validation from verified sources.
Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, highlighted the importance of the commercial transport sector in India’s economy. He emphasized that the new Commercial Vehicle Loan will provide financial assistance to transporters with simplified procedures and minimal documentation requirements.
The company aims to target the growing logistics and transportation sectors in tier 2 and tier 3 markets. A significant portion of PFL’s CV loan portfolio is expected to come from the used commercial vehicle segment.
Poonawalla Fincorp currently has an AUM of ₹30,984 crore as of December 31, 2024, and employs around 2,560 individuals across 18 states and 2 Union Territories.
The information was originally published on March 17, 2025.
