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Sundaram Home Finance recorded a net profit of INR 62.55 crore in the third quarter, slightly surpassing the INR 62.28 crore posted in the same period the previous year. Disbursements surged by 35% to INR 1,692 crore, with December marking a record monthly disbursement of INR 618 crore. For the first nine months of the financial year, net profit stood at INR 173.09 crore, slightly lower than INR 179.03 crore in the corresponding period of the previous year. However, disbursements rose by 29% to INR 4,588 crore. The company's AUM reached INR 14,577 crore, reflecting a 14% increase. Sundaram Home Finance expanded its footprint with 12 new branches and over 500 new hires while entering new markets in Chhattisgarh and Andhra Pradesh through its emerging business segment.
Sundaram Home Finance reported a net profit of INR 62.55 crore for the third quarter, slightly exceeding the INR 62.28 crore recorded during the same period the previous year. Disbursements for the quarter saw a 35 per cent increase, reaching INR 1,692 crore compared to INR 1,252 crore in the corresponding quarter of the prior year. Advertisement
December witnessed the company achieving a record monthly disbursement of INR 618 crore, marking the highest in its history. Managing Director D Lakshminarayanan attributed this milestone to the firm's ability to capitalise on growth opportunities across various market segments and regions.
For the nine months leading up to the end of the third quarter, the company reported a net profit of INR 173.09 crore, slightly below the INR 179.03 crore posted in the corresponding period of the preceding year. Meanwhile, disbursements surged by 29 per cent to INR 4,588 crore, up from INR 3,569 crore in the prior year.
Lakshminarayanan noted that the positive growth in disbursements during the first nine months was driven by robust end-user demand, enhanced affordability, metro expansion, and increased activity in smaller towns. He highlighted the promising performance of the newly launched Emerging Business (EB) segment, stating that the company continues to gain insights into this evolving market and its customers.
As of the quarter's end, Sundaram Home Finance's Assets Under Management (AUM) stood at INR 14,577 crore, reflecting a 14 per cent increase from INR 12,800 crore recorded at the same point the previous year.
The company expanded its operations by opening 12 new branches in the first nine months of the financial year and hiring over 500 employees. During the third quarter, it ventured into Chhattisgarh and Andhra Pradesh via its EB segment while reinforcing its presence in Madhya Pradesh and Tamil Nadu through additional branches.
With a focus on end-user demand, metro expansion, and smaller towns, Sundaram Home Finance remains optimistic about maintaining its upward momentum in both the core and emerging business segments in the near term.
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