+
Sundaram Home Finance reports net profit of over Rs 40 cr in FY22
Real Estate

Sundaram Home Finance reports net profit of over Rs 40 cr in FY22

Sundaram Home Finance has reported a net profit of Rs 40.04 crore in Q1 FY22 against its profit of Rs 33.94 crore in the corresponding quarter of the previous year.

The company made disbursements of Rs 249.27 crore in the first quarter (Q1) of FY22, compared to Rs 99.98 crore in the same quarter of the last fiscal year.

According to a statement, the company plans for fund growth to raise Rs 2,500 crore in 2021 through debt instruments and bank funding.

The MD of Sundaram Home Finance, Lakshminarayanan Duraiswamy, said that the second wave of the Covid-19 pandemic caused uncertainty throughout the quarter though, the relaxation of the lockdown in June in most of the states led to a partial growth in the real estate demand at the end of the first quarter.

He also said that the disbursements made in Q1 were driven by mid-market segments, mostly of salaried classes in II and III tier towns.

The company is positive about the growth prospects for the rest of the year, leaving behind the worst, he said.

Sundaram Home Finance is a leading firm in the housing finance industry, which has 107 branches in the country. The company provides home and plot loans, home improvement, and loans against property, among others.

Image Source


Also read: Telangana plans to raise Rs 3,000 cr via layout regularisation scheme

Sundaram Home Finance has reported a net profit of Rs 40.04 crore in Q1 FY22 against its profit of Rs 33.94 crore in the corresponding quarter of the previous year. The company made disbursements of Rs 249.27 crore in the first quarter (Q1) of FY22, compared to Rs 99.98 crore in the same quarter of the last fiscal year. According to a statement, the company plans for fund growth to raise Rs 2,500 crore in 2021 through debt instruments and bank funding. The MD of Sundaram Home Finance, Lakshminarayanan Duraiswamy, said that the second wave of the Covid-19 pandemic caused uncertainty throughout the quarter though, the relaxation of the lockdown in June in most of the states led to a partial growth in the real estate demand at the end of the first quarter. He also said that the disbursements made in Q1 were driven by mid-market segments, mostly of salaried classes in II and III tier towns. The company is positive about the growth prospects for the rest of the year, leaving behind the worst, he said. Sundaram Home Finance is a leading firm in the housing finance industry, which has 107 branches in the country. The company provides home and plot loans, home improvement, and loans against property, among others. Image Source Also read: Telangana plans to raise Rs 3,000 cr via layout regularisation scheme

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?