Bajaj FinServ may foray into home-loan biz

“We already offer secured loans against property and we are the fourth-largest in that segment. We are now evaluating getting into the home loan business, though we have not taken a final decision yet,” Bajaj Finserv managing director Sanjiv Bajaj told ET.

Two of the planned diversification moves are slated to take off next year. “We will start offering retail loans against shares next year and we are also entering the construction equipment financing business. FinServ may even look at commercial vehicles when sister company Bajaj Auto diversifies its portfolio,” Mr Bajaj said.

Already, Bajaj FinServ has expanded into two new businesses this year. In April 2009, Bajaj FinServ signed an agreement with insurance partner Allianz for an asset management company (AMC). Bajaj Financial Solutions, a 100% financial products, services distribution and advisory offshoot, was set up later. “We want to tap into a new set of customers with these businesses,” said Mr Bajaj.