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Business Standard
07-06-2025
- Business
- Business Standard
Sundaram Home crosses ₹1,000 cr in disbursements from non-south markets
Sundaram Home Finance which has been expanding its presence beyond Southern markets has reached a milestone of breaching Rs 1,000 crore mark in its disbursements made in non-south markets in FY 2024-25, a top official said. Sundaram Home Finance is a wholly-owned subsidiary of Sundaram Finance Ltd. It provides home loans, plot loans, loans against property and business loans to traders and retailers. The city-headquartered company, a traditional player in south India, has expanded its presence in Maharashtra, Rajasthan and Madhya Pradesh. It also entered into the Chhattisgarh market. For the financial year ending March 31, 2025, Sundaram Home Finance made disbursements of Rs 6,517 crore (including south and non-south markets) which was up by 29 per cent from Rs 5,039 crore disbursements made in the same period of previous financial year (FY2023-24). With the growing presence in the country, the contribution from non-south geographies has doubled in the last couple of years to about 20 per cent of the overall disbursements made by the company, a statement from the company said on Saturday. "We have identified specific pockets of growth opportunities in markets outside South India and this served well for us. Disbursements in the prime home finance segment crossing Rs 1,000 crore last (financial) year in the non-southern market is an important milestone in our growth journey and is a testament to our strategic focus of spreading our wings across the country," the company's MD D Lakshminarayanan said. The opening of new branches and strengthening presence in existing locations including adding people have contributed to the over 50 per cent year-on-year growth in disbursements in the non-south geographies, he said. For the current financial year, the company expects to make disbursements of Rs 1,500 crore from the non-south market. "The focus this year will be on strengthening our presence in locations where we had expanded in the last couple of years while at the same time looking for select growth opportunities in new Tier II and III towns outside South India," he said. Sundaram Home Finance currently has over 150 branches across the country.
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Business Standard
06-05-2025
- Business
- Business Standard
Sundaram Finance plans to raise over Rs 6K cr in current FY to drive growth
The funds proposed to be raised would be through a mix of refinance from NHB, bank debt, debentures and fixed deposits Press Trust of India Chennai Sundaram Home Finance has unveiled plans to raise over Rs 6,000 crore to accelerate its growth during the current financial year. The funds proposed to be raised would be through a mix of refinance from NHB, bank debt, debentures and fixed deposits, an official said. Sundaram Home Finance reported a 26 per cent rise in its net profit for the January-March 2025 quarter to Rs 71.57 crore from Rs 56.80 crore registered in the corresponding quarter of last financial year. Disbursements made during the quarter under review stood at Rs 1,929 crore as against Rs 1,469 crore registered in the corresponding quarter of last financial year. The Assets Under Management during the financial year ending March 31, 2025 went up to Rs 17,470 crore from Rs 13,812 crore registered in the year ago period. On the outlook for the financial year, the city-headquartered company's MD D Lakshminarayanan said, "The emergence of small towns as an economic growth drive is throwing up a lot of new growth opportunities for us both in the prime home finance segment as well as the emerging business segment. We believe that the demand outlook remains positive in the real estate space and we will continue to invest in branch expansion and people this year." "While we consolidate our presence in the larger cities, we believe that our growth this year will be driven by new expansion into more Tier II and III towns and further strengthening our presence in existing locations in smaller towns," he said in a company statement on Tuesday. The Emerging Business segment of the company has made disbursements of Rs 229 crore for the year ending March 31, 2025. This segment comprises small business loans and affordable housing finance registered a solid growth in FY2025 on the back of network expansion in Tamil Nadu. "The Emerging Business segment has kicked off well in the first phase and we were able to register an over 60 per cent growth in disbursements last year on the back of branch expansion in small towns in TN. We will now look for growth opportunities through expansion outside Tamil Nadu in the emerging business segment this year," he said. "We are confident that the emerging business segment will grow faster this year on the back of our network expansion," he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
