Piramal Enterprises has announced a provision of over Rs 3,000 crore for its investments in alternative investment funds (AIFs) linked to companies with lending exposures. This move is expected to impact the company s earnings for FY24, with analysts predicting a loss exceeding Rs 2,200 crore.
PEL and its housing finance arm Piramal Capital & Housing Finance had a combined exposure of Rs 3,817 crore in AIFs as of November 30, 2023, according to the company s filing to the exchanges.
Piramal Enterprises has announced a provision of over Rs 3,000 crore for its investments in alternative investment funds (AIFs) linked to companies with lending exposures. This move is expected to impact the company s earnings for FY24, with analysts predicting a loss exceeding Rs 2,200 crore.