Sundaram Home Finance Eyes Major Expansion in Emerging Business Segment

Sundaram Home Finance plans to double its Emerging Business segment to Rs 400 crore in the next 12 months. With over 40 branches in Tamil Nadu and forays into Andhra Pradesh, the company also aims to enter Telangana. The focus is on stabilizing and expanding branch networks to achieve growth.

Sundaram Home Finance has announced ambitious plans to double its Emerging Business segment to Rs 400 crore over the coming year, a senior company official revealed.

Currently operating over 40 branches in Tamil Nadu, the wholly owned subsidiary of Sundaram Finance Ltd has recently ventured into Andhra Pradesh by opening five new branches. Plans are underway to expand into Telangana, as part of the next growth phase.

The Emerging Business arm offers small business loans up to Rs 20 lakh and affordable housing finance reaching up to Rs 35 lakh. The company's Managing Director, D Lakshminarayanan, emphasized the potential for growth in this segment, having already achieved Rs 200 crore in disbursements, with a goal to double this figure within a year.