Managing Director D. Lakshminarayanan
Sundaram Home Finance Ltd. (SHFL) said it aims to double home loan disbursements in Maharashtra to ₹450 crore next year.
“In Maharashtra, we have presence in Pune, Nashik and Nagpur outside the Mumbai region. We registered annual disbursements of over ₹225 crore,” said Managing Director D. Lakshminarayanan.
As part of the expansion plan, SHFL recently opened its second home loan branch in Navi Mumbai (Mumbai region) and plans to add two more branches. It will add 25 jobs in Maharashtra to take the headcount to 100 over the next 12 months.
“We currently disburse home loans of about ₹100 crore annually in the Mumbai region and believe we can double this, next year,” he said.
Asserting that Mumbai was the largest and fastest growing real estate market in the country, he said that the company would continue to focus on the mid-range housing segment in Mumbai.
“We currently operate out of Thane, catering to the outskirts of Mumbai. This expansion in business capital is driven by the growth of Navi Mumbai and the potential it offers to our home finance business,” he said.
The housing finance arm of Sundaram Finance has 135 branches in the South, Madhya Pradesh, Rajasthan, Maharashtra and Gujarat. It registered a Q3 net profit of ₹62 crore on disbursements of ₹1,252 crore.
