Sundaram Home Finance has set its disbursals under the Emerging Business (EB) segment to double to Rs 400 crore over the next one year with an aim to boost its loan book substantially. The company, a wholly owned subsidiary of Sundaram Finance Ltd, is looking to enhance its presence in Tamil Nadu, Andhra Pradesh and later Telangana to fortify its position in the southern market. The EB segment provides small business loans up to Rs 20 lakh and housing finance for affordable housing, with loans up to Rs 35 lakh. With more than 40 branches of the bank currently functioning in Tamil Nadu and five new branches in Andhra Pradesh, Sundaram Home Finance is well placed to grow very rapidly. It expects to enter Telangana in its next round of growth and serve new markets with high growth potential. “Our immediate focus is to consolidate and build strength of our existing branch network in TN and AP. Once we are able to stabilize, we intend to move to Telangana in order to enhance the growth,” said D Lakshminarayanan, MD of Sundaram Home Finance. “We have already touched the Rs 200 crore mark in disbursements and we are positive that we can achieve Rs 400 crore in the next 12 months,” he added. The company has more than 300 people in its roll in the EB vertical and continues to grow in the Tier 2 and Tier 3 cities. Sundaram Home Finance has made total disbursements of Rs 1,692 crore in the October-December 2024 quarter, which is 35 per cent higher than the corresponding quarter of the previous year. This is as it continues to build its regional presence, Sundaram Home Finance is upbeat on the long term prospects of the EB segment and its focus on affordable housing and small business financing in emerging markets.
Sundaram Home Finance Targets Rs 400 Crore Disbursement
