Sundaram Home Finance targets Rs 2.25 Bn disbursements

11 Sep 2024 CW Team

Sundaram Home Finance has bolstered its presence in Madhya Pradesh by opening a second branch in Indore, aiming to disburse Rs 2.25 billion in the state this year. The company, headquartered in the city, has been progressively expanding outside the southern market, having ventured into Maharashtra last month and Rajasthan in April.

In addition to the new Indore branch, Sundaram Home Finance already operates a branch in Bhopal. As a wholly owned subsidiary of Sundaram Finance Ltd, the company sees Madhya Pradesh as a crucial market for expansion beyond South India. Managing Director D. Lakshminarayanan highlighted that the increasing affordability of residential properties, which range from small homes to villas, and the growing demand for plots, present significant opportunities for growth in the home finance sector in the state.

Lakshminarayanan noted that there is also a rising presence of micro, small, and medium enterprises, which offers further opportunities for providing working capital funding. Last year, Sundaram Home Finance disbursed Rs 1.5 billion in Madhya Pradesh and is now targeting Rs 225 crore in disbursements for the current financial year, reflecting a 50% increase from the previous year.

He mentioned that Indore has exceeded expectations in terms of growth and opportunities over the past 2-3 years, prompting the current expansion to meet the burgeoning market needs. Lakshminarayanan also indicated that the real estate landscape in Indore is set for continued growth, with opportunities for both investors and homebuyers. He expects the success of the commercial sector to positively impact the real estate sector.

In addition to inaugurating the second branch in Madhya Pradesh, Sundaram Home Finance plans to open new branches in three additional locations within the state over the next 12-18 months. The company reported a net profit of Rs 66 crore for the April-June 2024 quarter and disbursed Rs 1,353 crore during the same period.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..