Sundaram Home Finance expands presence in Telangana
The Hindu
SHFL opens new branch in Hyderabad, expanding presence in Tier-2/3 cities. MD expects real-estate growth to boost home finance biz in Andhra/Telengana. Disbursements of ₹400 crore last year, 20% growth expected this year. SHFL to foray into affordable-housing, open 10 branches & hire 50-75 people by 2024. June quarter net profit of ₹57 crore on disbursements of ₹1,104 crore.
Sundaram Home Finance Ltd. (SHFL) has opened a new branch at Begumpet in Hyderabad as part of its foray into Tier-2 and Tier-3 cities, taking the tally to six in the city.
“We believe there is a lot of potential for our home finance business in Andhra and Telengana,”said MD Lakshminarayanan Duraiswamy in a statement.
“The State’s infrastructure is boosting real-estate growth. We expect this expansion to strengthen our overall presence in the State capital,”
On the growth prospects in Telengana, he said, “Telengana registered disbursements of over ₹400 crore last year and we expect a growth of 20% this year from this region.”
Earlier this month, SHFL announced plans to foray into the affordable-housing segment and added it will open 10 branches and hire 50-75 people by March 2024.
For the June quarter, SHFL posted a net profit of ₹57 crore on disbursements of ₹1,104 crore.
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