Purple Finance to Enter Affordable Housing Finance

Purple Finance Limited announced its strategic decision to enter the affordable housing finance segment, following board approval. This expansion aims to leverage its existing semi-urban and rural network to diversify its lending portfolio and bolster its secured retail lending business. The company is evaluating options such as acquiring an existing Housing Finance Company or establishing a subsidiary. Concurrently, Purple Finance is launching two new MSME-focused lending products: PURPLE SARAL (₹75,000-₹2 lakh) and SAKSHAM LAP (₹2 lakh-₹4 lakh), alongside an institutional lending product for NBFCs. The company reported a standalone Assets Under Management (AUM) growth of 101% year-on-year to ₹329.21 crore in Q2 FY27, with Gross NPA below 2.5%. The Group's consolidated profit after tax was ₹100.17 lakh for the quarter and ₹138.59 lakh for H1 FY27.