Sundaram Home Finance Expands with New Branches in Andhra Pradesh

Sundaram Home Finance plans to expand its presence in Andhra Pradesh by opening 12 new branches in a year as part of its Emerging Business segment. The company has launched five branches, aiming for significant growth in small business loans and affordable housing markets.

Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, is set to significantly grow its operations in Andhra Pradesh by adding 12 new branches over the next year within its Emerging Business segment.

The company has already launched branches in Guntur, Tirupati, Nellore, Eluru, and Vijayawada, aiming for Rs 75 crore in disbursements. Their business strategy includes offering small business loans and affordable housing finance to propel the segment's growth.

Company's Managing Director, D Lakshminarayanan, views the Andhra Pradesh market as ripe with opportunities for its current product offerings. The firm plans to further double its branch network within Andhra Pradesh, aiming to capitalize on emerging opportunities in small business lending and affordable housing sectors.

(With inputs from agencies.)