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Sundaram Home Finance, a prominent provider of property-related financing, is expanding its presence beyond South India, recently opening a branch in Kota, Rajasthan, with plans for another in Udaipur. With existing branches in Rajasthan and a goal to disburse INR 300 crore in loans over the next few years, Sundaram aims to capitalize on Rajasthan's growing urban population and demand for housing units. Managing Director Lakshminarayanan Duraiswamy emphasized the company's growth strategy, targeting states like Rajasthan, Maharashtra, and Gujarat alongside their established presence in South India. Sundaram offers a range of financial products beyond home loans, catering to diverse property-related needs, reflecting a broader trend of financial institutions tapping into India's housing demand.
Sundaram Home Finance, a leading provider of home loans and other property-related financing, is expanding its reach beyond South India. The company recently opened a new branch in Kota, Rajasthan, with plans for another in Udaipur in the coming months. This move reflects Sundaram's strategy to tap into promising markets outside its traditional southern stronghold. Advertisement
Sundaram already has existing branches in Jaipur, Ajmer, and Jodhpur, Rajasthan. The company is confident in the state's potential and aims to disburse INR 300 crore in loans over the next two to three years. This translates to roughly INR 100 crore to INR 150 crore disbursed per year.
Lakshminarayanan Duraiswamy, Managing Director of Sundaram Home Finance, highlighted the company's growth strategy, stating that they have built a strong presence in South India over the years, expanding into Tier II and III towns with over 140 branches. Duraiswamy added that while they continue to grow in the South, they're also exploring opportunities in other parts of the country, with a focus on states like Rajasthan, Maharashtra, and Gujarat.
Sundaram's expansion into Rajasthan follows its entry into Navi Mumbai earlier this year. These moves represent the company's commitment to establishing a nationwide presence. Currently, Sundaram operates over 140 branches spread across South India (including Tamil Nadu, Andhra Pradesh, Karnataka, and Kerala), Madhya Pradesh, Rajasthan, Maharashtra, and Gujarat.
Sundaram goes beyond home loans, extending a suite of property-related financial products tailored to diverse needs. This includes plot loans, facilitating individuals in financing land purchases for future construction endeavors. Moreover, existing homeowners can avail themselves of home improvement and extension loans to renovate or expand their properties, enhancing their value and functionality. Additionally, Sundaram offers loans against property, providing homeowners with the means to access funds by leveraging their existing property as collateral, thereby unlocking its latent value for various financial needs.
By providing these diverse solutions, Sundaram aims to cater to a wider range of customers across different stages of their property ownership journey. This expansion is part of a larger trend of financial institutions looking to tap into the growing housing demand across India, particularly in Tier II and Tier III cities.
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