CHENNAI: Sundaram Home Finance (HF) has expanded its presence under the emerging business segment in the city, aiming to disburse Rs 50 crore over the next 12 months in the Chennai zone.

The wholly-owned subsidiary of non-banking finance company Sundaram Finance inaugurated a new branch in Ambattur after establishing its first branch in Tambaram in January this year.

In the Chennai zone, it expects to register disbursements of Rs 50 crore. Sundaram Home Finance has already clocked disbursements of over Rs 200 crore in the emerging business segment and is looking to double this amount over the next 12 months, it said.

Sundaram Home Finance MD D Lakshminarayanan said, “Ambattur is rapidly growing into a separate township with increasing industrialisation and a large number of manufacturing and IT firms in the area.” “In addition to targeting prime home finance customers, we will also provide working capital finance to the growing small businesses in the western hub of Chennai and tap into opportunities in the affordable housing finance segment in this region,” he said in the release.