Sundaram Home Finance's Robust Growth in Q3 2024 Highlights Market Expansion

Sundaram Home Finance reported a net profit of Rs 62.55 crore for Q3 2024, showing steady growth from Rs 62.28 crore last year. Disbursements surged by 35% to Rs 1,692 crore. The company's assets under management grew by 14% to Rs 14,577 crore. Expansion into new markets boosts performance.

Sundaram Home Finance posted a net profit of Rs 62.55 crore for the third quarter of 2024, marking a steady increase from Rs 62.28 crore earned during the same period in the previous financial year.

Disbursements for the quarter rose by 35% to Rs 1,692 crore, compared to Rs 1,252 crore recorded previously. Over the nine-month period ending December 31, 2024, net profit totaled Rs 173.09 crore, slightly lower than the Rs 179.03 crore achieved last year. Disbursements surged by 29% to Rs 4,588 crore for the same period.

The company's Assets Under Management (AUM) as of December 31, 2024, stood at Rs 14,577 crore, up by 14% year-on-year. Sundaram Home Finance MD D Lakshminarayanan noted the positive growth driven by end-user demand, affordability, and market expansion. The company opened new branches and entered emerging markets, employing over 500 new staff.

(With inputs from agencies.)