Sundaram Home Finance Expands in Tamil Nadu's Tier-III Towns

Sundaram Home Finance Ltd plans to expand its Emerging Business segment in Tamil Nadu's tier-III towns due to strong growth prospects. The firm targets Rs 500 crore disbursement over 12-18 months, focusing on small business and affordable housing finance. New branches are planned in Pollachi, Tirupur, and Erode.

Sundaram Home Finance Ltd has announced an expansion of its Emerging Business segment in Tamil Nadu's tier-III towns, recognizing significant growth opportunities in the area.

This expansion plan involves disbursing over Rs 500 crore in the next 12 to 18 months, with Rs 50 crore earmarked for the Emerging Business vertical. The initiative comes after the successful establishment of the Coimbatore branch.

The Pollachi branch will cater to small entrepreneurs with business loans and target the affordable housing finance market, providing loans of up to Rs 35 lakh. The company's managing director, D Lakshminarayanan, highlighted the focus on towns like Tirupur, Dharapuram, and Erode as part of the growth strategy.

(With inputs from agencies.)