Sundaram Home Finance makes deeper foray into Coimbatore region

Sundaram Home Finance aims to triple disbursements to ₹500 crore in Coimbatore, targeting Tier-III towns for growth.

Sundaram Home Finance (SHF) is aiming for a threefold increase in overall disbursements to over ₹500 crore in Coimbatore region in the next 12-18 months. This will include about ₹50 crore from the new emerging business (EB) segment.

As part of its strategy, SHF has started foraying deeper into the Tier-III towns in Western TN/Coimbatore region by eyeing Tiruppur, Dharapuram, Erode and Pollachi. On Monday, it opened a new branch office in Pollachi.

“The Pollachi branch will provide small business loans to entrepreneurs and small businesses of up to ₹20 lakh to meet their working capital requirements and to support their business growth. SHF will also target the affordable housing finance market with loans of up to ₹35 lakh,” Managing Director D. Lakshminarayanan said in a statement.

“Having established a strong presence in the Western TN with over 15 branches including six in the EB segment, we are now looking to expand beyond in this segment in this region. The current expansion into Pollachi is part of that strategy to penetrate deeper into smaller towns,” he said.