Sundaram Home Finance aims to disburse Rs 120 cr in central TN

Chennai, Nov 25 (PTI) Sundaram Home Finance has targeted to double its presence in tier 3 and 4 locations in central Tamil Nadu as it aims to make Rs 120 crore disbursements under the emerging business segment in the region, a top official said.

The Chennai-headquartered company operates 12 branches in the region and has planned to scale up the number of branches to 25.

Emerging business segment comprises small ticket loans of up to Rs 20 lakh and affordable housing finance of up to Rs 40 lakh.

Commenting on the expansion, Sundaram Home Finance MD D Lakshminarayanan said, "In line with our stated intent of consolidating and strengthening our presence in TN, we are now targeting tier 3 and 4 towns in the state for our next phase of our expansion in the emerging business segment." "Over the last year, we have opened branches in towns such as Tiruchirappalli, Thanjavur, Thiruvarur and Kumbakonam in Central Tamil Nadu and are now looking to penetrate deeper into smaller towns in this region," he said in a company statement here on Tuesday.

Over the next 12 months, the company is targeting disbursements of Rs 120 crore in the emerging segment in central Tamil Nadu. As part of this expansion, the company opened a new branch in Pattukottai near Thanjavur on November 24, the company said.

"We believe the growing entrepreneurial climate is throwing open new opportunities to tap into smaller towns in Tamil Nadu in the emerging business segment," he said on the opportunities available in smaller towns.

Sundaram Home Finance provides home loans, plot loans, home improvement and extension loans, loans against property. It has over 150 branches across the country. PTI VIJ VIJ KH