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

30 Jul 2021 CW Team

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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..