Sundaram Home Finance Expands Presence in Maharashtra with New Pune Office
Sundaram Home Finance (SHF) opens second office in Pune, Maharashtra, targeting mid-segment home loans
Sundaram Home FinanceMaharashtraPuneHome LoansReal EstateReal Estate MaharashtraAug 09, 2024
The new branch will provide home loans targeting the mid segment of the market with typical ticket size being around Rs.40 lakhs. The company achieved disbursements of over Rs.100 crores in Pune in FY24 through its first branch.
On the expansion in Pune, D Lakshminarayanan, MD, Sundaram Home Finance said, “Pune is turning into a vibrant home finance market and its proximity to Mumbai has led to fast paced growth in terms of infra development and the increasing presence of IT companies.
This expansion in Pune follows the success of our first branch in the city. We are confident of leveraging our existing presence to tap into the growing opportunities in the city and further expand our customer base there.”
On the growth prospects in Maharashtra, he said “The Tier 2 towns in Maharashtra are seeing strong economic growth and this is leading to an increase in demand for residential properties. We will look to steadily grow our presence in the state by strengthening our presence in existing locations.”
The company had registered disbursements of over Rs.250 crores in Maharashtra last year and is targeting disbursements of over Rs.450 crores in the state this year.
On tapping markets outside South India, he said, “While we will focus on strengthening our presence in the South market with the Tier 3 and 4 towns driving our disbursements growth, we will continue to explore opportunities outside South India and as per our stated intent look to steadily expand our presence in select geographies in West and Central India.”
Information
Sundaram Home Finance (SHF) is a leading home finance company in India, providing home loans to individuals and families.
Sundaram Home Finance (SHF) is a subsidiary of Sundaram Finance Limited, a leading financial services company in India.
Frequently Asked Questions
What is Sundaram Home Finance's expansion plan in Maharashtra?
Sundaram Home Finance has opened its second office in Pune, Maharashtra, and plans to steadily grow its presence in the state by strengthening its presence in existing locations.
What is the typical ticket size of home loans provided by Sundaram Home Finance in Pune?
The typical ticket size of home loans provided by Sundaram Home Finance in Pune is around Rs.40 lakhs.
What is the growth prospects of Sundaram Home Finance in Maharashtra?
The Tier 2 towns in Maharashtra are seeing strong economic growth, leading to an increase in demand for residential properties, and Sundaram Home Finance plans to tap into this growing demand.
Does Sundaram Home Finance plan to expand its presence outside South India?
Yes, Sundaram Home Finance plans to explore opportunities outside South India and expand its presence in select geographies in West and Central India.
What is Sundaram Home Finance's disbursement target in Maharashtra for this year?
Sundaram Home Finance has targeted disbursements of over Rs.450 crores in Maharashtra this year.
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