Sundaram Home Finance aims to double its disbursals in Maharashtra
This expansion in the business capital is driven by the growth of Navi Mumbai and the potential it offers for our home finance business, said the companys Managing Director Lakshminarayan Duraiswamy.Sundaram Home Finance has presence in Thane, Pune, Nashik and Nagpur.
![Sundaram Home Finance aims to double its disbursals in Maharashtra](https://devdiscourse.blob.core.windows.net/imagegallery/12_11_2020_11_20_52_1499489.jpg)
- Country:
- India
Sundaram Home Finance has opened its new branch in Navi Mumbai, as the subsidiary of Sundaram Finance Ltd aims to double its disbursements made in Maharashtra next year.
The expansion plan was in the backdrop of the region offering potential to home finance, a top official said.
''Mumbai is the largest and fastest growing real estate market in the country. We currently operate out of Thane catering to the outskirts of Mumbai. This expansion in the business capital is driven by the growth of Navi Mumbai and the potential it offers for our home finance business,'' said the company's Managing Director Lakshminarayan Duraiswamy.
Sundaram Home Finance has presence in Thane, Pune, Nashik and Nagpur. It had registered annual disbursements of over Rs 225 crore in Maharashtra and is targeting to double its disbursements in that state next year.
''We will continue to focus on the mid-range housing segment in Mumbai. We currently disburse home loans of around Rs 100 crore annually in the Mumbai region and believe we can double this, next year,'' he said in a statement.
Sundaram Home Finance has 135 branches in the Southern region, Madhya Pradesh, Rajasthan, Maharashtra and Gujarat. The company registered a net profit of Rs 62 crore for the October-December 2023 quarter on disbursements of Rs 1,252 crore.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Israeli Airstrike Kills Six, Injures Three in Southern Lebanon
Stree 2 Smashes Box Office with Rs 100 Crore
Israeli Strike in Southern Lebanon Kills 10 Syrians Amid Heightening Conflict
Israeli Strike in Southern Lebanon Kills 10 Syrian Nationals
Southern Africa Faces Crisis: El Nino-Induced Drought Impacts 68 Million People