The cash reach Piramal Healthcare Ltd has decided to change its name to Piramal Enterprises Ltd with investments in financial services, Vodafone India and acquisition of Indiareit Fund Advisors & Indiareit Investment Management. Further, the company demerged NCE research unit from Piramal Life Sciences Ltd (PLSL) into Piramal Healthcare during 2012.

While addressing to shareholder at the company's 65th annual general meeting, Ajay Piramal, chairman, said, “Following the sale of healthcare solutions business in September 2010, our company continues to grow the existing pharma businesses while evaluating to enter new business sectors. We are looking for opportunities which would provide sustainable returns in sectors that have high growth potential and where we can derive significant advantage through our presence in India.”

Indiareit Fund Advisors and Indiareit Investment Management Company are advisors to domestic and an offshore real estate funds. During the last year, it commenced lending to the real estate sector through a non banking finance company called PHL Finance Pvt Ltd. “The objective behind focusing on lending to real estate was to capitalise on the deep domain knowledge and understanding of the real estate sector in India that the Piramal Group possesses. We have put a strong team of experienced and reputed professionals to drive this business.”

During the year 2011-12, the NCE R&D unit of PLSL was demerged into Piramal Healthcare. The company now have a strong pipeline of 17 drugs with 11 drugs in clinical trials phase. We have state-of-the-art R&D laboratories built over two lakh square-feet of space in Mumbai where about 400 scientists are engaged in drug discovery and development in four therapeutic areas like cancer, diabetes, inflammation and infectious diseases.