Business EconomyPosted at: Oct 30 2024 8:16PM


SHF registers Rs 44 cr net profit in Q2

Chennai, Oct 30 (UNI) Sundaram Home Finance (SHF) on Wednesday announced that
it has registered a Net Profit of Rs. 44 crores for the second quarter ended th September
30, 2024 as against Rs. 59 crores in the corresponding quarter of previous year.
Disbursements for Q2 went up 27% to Rs. 1543 crores as compared to Rs. 1214 crores,
a company release said.
AUM stood at Rs. 13888 crores as against Rs. 12182 crores, registering a 14% increase.
The company registered Net Profit of Rs.111crores for the first half year as compared to
Rs. 117 crores. Disbursements for H1 increased 25% to Rs. 2896 crores as compared
to Rs. 2317 crores.
During the second quarter, SHF further expanded its presence outside South India with
new branches in Pune in Maharashtra and Indore in Madhya Pradesh, strengthening its
already existing presence in the two states.
The company also expanded its presence in Tier 2 market in the South with a new branch
in Belgaum in Karnataka.
The newly launched Emerging Business segment comprising of small business loans and
financing to the affordable housing market registered disbursements of Rs.42 crores in Q2.
As part of its expansion plans, the company hired over 300 people during the first half of
the year. The company will continue to look for select opportunities to grow outside the
South market while consolidating its presence in the South.
Commenting on the disbursement growth, Company MD D Lakshminarayanan said “Our
strong disbursements growth was driven by our continued expansion in Tier 2 and 3 towns,
both in the South as well as beyond. The Emerging Business segment too did well for us
during the second quarter.”

On the outlook, he said, “We are confident of continuing the growth trajectory in the second
half of the year, driven by multiple factors including affordability, economic growth of smaller
towns and opening of new branches beyond the Southern market. We are also hopeful of
expanding our presence in the newly launched Emerging Business segment and establishing
a solid base in the affordable housing financing.”
UNI GV 2010
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Tags: #SHF registers Rs 44 cr net profit in Q2
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