Saturday, May 18 2024 | Time 08:45 Hrs(IST)
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Business Economy


Sund Home Fin expands presence in Rajasthan

Chennai, Apr 19 (UNI) After its recent expansion in Western India, Sundaram Home Finance (SHF)
has expanded its presence in Central India with the opening of its new office at Kota in Rajasthan.
SHF, which is now targeting to expand its presence in Central India outside the South Market,
opened a new branch in Kota, in Rajasthan and plans to open another in Udaipur in the coming
months.
Company MD Lakshminarayanan Duraiswamy said, “Over the last couple of years, we have strengthened our presence in South India expanding into Tier-2 and 3 towns. While we will continue to penetrate deeper into remote towns in this market, we are exploring opportunities to expand further in select geographies outside the South market.”
“Our foray into Navi Mumbai in February was a step in that direction. The current expansion in Rajasthan combined with our plans to target the Western India market will go towards gradually expanding our footprint outside South India”, he said, according to a company press release.
Specifically on the potential in Rajasthan, he said that this is a vibrant market with a high degree of credit culture and is growing rapidly with urbanisation and economic prosperity.
In Rajasthan, the company, which has branches in Jaipur, Ajmer and Jodhpur, believes there is
potential to register disbursements of around Rs. 300 crores in the next 2-3 years.
The company has over 140 branches in the Southern region and in MP, Rajasthan, Maharashtra
and Gujarat till date.
Sundaram Home Finance provides home loans, plot loans, home improvement and extension loans,
loans against property and small business loans to traders and small shops.
UNI GV 1635
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