Sundaram Home Finance eyes ₹225 crore disbursal in Madhya Pradesh

Sundaram Home Finance Managing Director D. Lakshminarayanan opening the new branch in Indore in Madhya Pradesh.
| Photo Credit: Special Arrangement

Sundaram Home Finance Ltd (SHFL) is aiming for a 50% increase in its home loan disbursals for the current fiscal while opening the Indore branch in Madhya Pradesh.

Last fiscal, the company disbursed ₹150 crore in Madhya Pradesh and is targeting disbursements of ₹225 crore, a growth of 50% this year, said Managing Director D. Lakshminarayanan.

SHFL already has a branch in Bhopal. The current move of opening new branches in Maharashtra and Rajasthan in recent months is aimed at steadily increasing SHFL’s presence outside of South India.

Over the next 12-18 months, SHFL is planning to open three more branches in MP, said the wholly owned subsidiary of Sundaram Finance Ltd.

Increasing affordability, residential properties ranging from small homes to villas and increasing demand for plots are said to be the reasons for SHFL’s foray into Indore. Besides, it will cater to the growing market needs.

“We are also seeing an increasing presence of MSMEs and that provides us with opportunities to provide working capital funding,” he said.

“We believe that in terms of ticket sizes, credit profiles and growth opportunities, Indore presents a sweet spot,” he said.