Sundaram Home Finance plans to double SBL branch count in a year
时间:2024-06-29 02:43:58 阅读(143)
Sundaram Home Finance is planning to double the number of its small business loans (SBL) branches to 50 over the next 9-12 months as it continues to expand in tier II and III cities.Following its foray into the small business loans segment in October 2022, the company has opened more than 25 exclusive branches in south and west Tamil Nadu and disbursed Rs 65 crore in the first year.As part of the expansion, the company has opened an exclusive SBL branch in Kanchipuram. The new branch will provide business loans of up to Rs 20 lakh against residential properties.
Managing director Lakshminarayanan Duraiswamy said: “Kanchipuram is a trading hub and SMEs there have been doing well in recent times. The town also attracts lakhs of tourists and devotees around the year. We already have a strong presence in north Tamil Nadu for the home finance business and understand this market well…”The company is targeting disbursements of around Rs 10 crore in the initial phase of its launch in this region. As part of its growth plans, Sundaram Home Finance will explore further expansion into towns such as Arani, Ambur and Tiruppattur next year.The company is in the process of foraying into the affordable housing segment and is looking to open 10 branches and hire up to 75 people initially.Sundaram Home Finance reported a net profit of Rs 117 crore on disbursements of Rs 2,307 crore for the half year of the current fiscal.
上一篇:Charts suggest bulls in control but global cues remain weak; 5 things to know before opening bell
猜你喜欢
- Indian bond yields flattish, await inflation clarity for rate hike cues
- ChatGPT to practice medicine, says experts
- ITC, Maruti Suzuki, M&M among 205 BSE stocks to hit new 52-week highs; Future Retail at new low
- India negotiating treaty to avoid double contribution to social security schemes with UK- Official
- ITC Hotels demerger at 1-10 ratio shows chairman Sanjiv Puri’s strategic foresight
- Campaign Decoded- Philips India Personal Health’s #HowIndiaCelebrates
- India needs to take on China on supply chain- Mahindra
- CGD players may cut prices as APM gas supply hiked
- ITC shares outperform Nifty, up 20% so far in 2022; analysts see 27% further rally, check target price