Sundaram Home Finance Plans Expansion In Rajasthan; Looks At Rs 300 Crore Disbursement In Three Years

Sundaram Home Finance has strengthened its presence in Rajasthan under its plan to expand in select geographies. The company eyes disbursements of Rs 300 crore over the next two to three years, a top official has said.

The Chennai-based company offers home loans, plot loans, home improvement and extension loans and loans against property. It had recently strengthened its presence in Western parts of the country.

A new branch was inaugurated in Kota, Rajasthan, and another branch is also planned in Udaipur in the coming months, the company said in a statement on Friday.

Sundaram Home Finance has branches in Jaipur, Ajmer and Jodhpur in the Rajasthan market and believes that there is potential to register disbursements of around Rs 300 crore in the next two-three years.

"Over the last couple of years, we have strengthened our presence in South India expanding into Tier II and III towns. While we continue to penetrate deeper into remote towns in this market, we are exploring opportunities to expand further in select geographies outside the South market," company Managing Director Lakshminarayanan Duraiswamy said.

In February, the company had forayed into Navi Mumbai.

"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 in the statement.

Sundaram Home Finance currently has over 140 branches in the Southern region and Madhya Pradesh, Rajasthan, Maharashtra and Gujarat.