Sundaram Home Finance Targets Rs 300 Cr Disbursements in Rajasthan
By Rediff Money Desk, CHENNAI Apr 19, 2024 16:43
Sundaram Home Finance aims to disburse Rs 300 crore in Rajasthan over the next 2-3 years, expanding its presence in the region with a new branch in Kota and plans for Udaipur.
Chennai, Apr 19 (PTI) Sundaram Home Finance has strengthened its presence in Rajasthan under its plan to expand in select geographies as it eyes disbursements of Rs 300 crore over the next two to three years, a top official has said.
The Chennai-based company offers home loans, plot loans, home improvement and extension loans and loans against property. It had recently strengthened its presence in Western parts of the country.
A new branch was inaugurated in Kota, Rajasthan, and another branch is also planned in Udaipur in the coming months, the company said in a statement on Friday.
Sundaram Home Finance has branches in Jaipur, Ajmer and Jodhpur in the Rajasthan market and believes that there is potential to register disbursements of around Rs 300 crore in the next two-three years.
"Over the last couple of years, we have strengthened our presence in South India expanding into Tier II and III towns. While we continue to penetrate deeper into remote towns in this market, we are exploring opportunities to expand further in select geographies outside the South market," company Managing Director Lakshminarayanan Duraiswamy said.
In February, the company had forayed into Navi Mumbai.
"The current expansion in Rajasthan combined with our plans to target the Western India market will go towards gradually expanding our footprint outside South India," he said in the statement.
Sundaram Home Finance currently has over 140 branches in the Southern region and Madhya Pradesh, Rajasthan, Maharashtra and Gujarat.
The Chennai-based company offers home loans, plot loans, home improvement and extension loans and loans against property. It had recently strengthened its presence in Western parts of the country.
A new branch was inaugurated in Kota, Rajasthan, and another branch is also planned in Udaipur in the coming months, the company said in a statement on Friday.
Sundaram Home Finance has branches in Jaipur, Ajmer and Jodhpur in the Rajasthan market and believes that there is potential to register disbursements of around Rs 300 crore in the next two-three years.
"Over the last couple of years, we have strengthened our presence in South India expanding into Tier II and III towns. While we continue to penetrate deeper into remote towns in this market, we are exploring opportunities to expand further in select geographies outside the South market," company Managing Director Lakshminarayanan Duraiswamy said.
In February, the company had forayed into Navi Mumbai.
"The current expansion in Rajasthan combined with our plans to target the Western India market will go towards gradually expanding our footprint outside South India," he said in the statement.
Sundaram Home Finance currently has over 140 branches in the Southern region and Madhya Pradesh, Rajasthan, Maharashtra and Gujarat.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Mishtann Foods L
- 9.60 (+ 7.26)
- 164892316
- Srestha Finvest
- 0.90 ( -4.26)
- 75582413
- Thinkink Picturez
- 2.13 (+ 4.93)
- 54606058
- Rajnish Wellness
- 1.95 (+ 4.84)
- 34261938
- Vodafone Idea L
- 8.04 ( -0.50)
- 20476799
MORE NEWS
Haber Raises USD 44 Million in Funding Round
Industrial AI startup Haber secured USD 44 million in Series C funding led by Creaegis,...
INOXGFL Group Enters Solar Manufacturing | Inox...
INOXGFL Group expands into solar manufacturing with Inox Solar, aiming for 5 GW module...
MobiKwik IPO Fully Subscribed: Fintech Company...
One MobiKwik Systems'' IPO fully subscribed within an hour, raising Rs 572 crore. The...