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Sundaram Home Finance plans to enter home loan segment
11 Sep 2023 CW Team
Sundaram Home Finance, a subsidiary of Sundaram Finance, has outlined plans to venture into the burgeoning affordable home loan segment, aligning itself with the government's ambitious "housing for all" initiative. The company has set its sights on tier 2 and tier 3 towns as it diversifies into the affordable housing sector. Lakshminarayanan Duraiswamy, Managing Director of Sundaram Home Finance, emphasized that this strategic move is a natural extension of their core business and growth strategy.
Duraiswamy stated, "We believe that this segment holds the potential for significant long-term growth for us." Sundaram Home Finance commenced offering small business loans in October of the previous year, marking an expansion of its services. Regarding their plans for the affordable housing sector, Duraiswamy revealed that the company intends to establish approximately 10 branches in smaller towns across Tamil Nadu and Andhra Pradesh. Furthermore, they aim to recruit 50-75 individuals dedicated exclusively to serving the affordable housing segment in the initial phase, with the target completion date set for March 2024.
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