Chennai: Sundaram Home Finance has opened its new branch in Navi Mumbai as a subsidiary of Sundaram Finance Limited aims to double it disbursement Will be built in Maharashtra next year. Expansion A top official said the scheme was against the backdrop of housing finance potential in the sector.
“Mumbai is the largest and fastest growing real estate market in the country. We currently cater to the outskirts of Mumbai from Thane. This expansion in the business capital is driven by the growth of Navi Mumbai and its potential for us . home finance Business,” said company managing director Lakshminarayan Duraiswami.
Sundaram Home Finance has its presence in Thane, Pune, Nashik and Nagpur. It had recorded annual disbursements of over Rs 225 crore in Maharashtra and aims 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 worth around Rs 100 crore annually in the Mumbai region and we believe we will surpass this next year,” he said in a statement. Can double.”
Sundaram Home Finance has 135 branches in the southern region, Madhya Pradesh, Rajasthan, Maharashtra and Gujarat. The company reported a net profit of Rs 62 crore on distribution of Rs 1,252 crore in the October-December 2023 quarter.