Sundaram HF to double branch network in central TN; eyes Rs 120 loan disbursal

CHENNAI: Continuing its expansion in the emerging business segment, Sundaram Home Finance (HF) is planning to more than double its branch network in this segment in tier 3 and 4 towns in central TN, where it has 12 branches now.

Over the next 12 months, it is targeting disbursements of Rs 120 crore in the emerging business segment in central TN. As part of this expansion, the company on Monday opened a new branch in Pattukottai, near Thanjavur.

Emerging business segment of Sundaram Home Finance comprises small ticket loans of up to Rs 20 lakh and affordable housing finance of up to Rs 40 lakh.

D Lakshminarayanan, MD, Sundaram Home Finance, said, “In line with our stated intent of consolidating and strengthening our presence in TN, we are now targeting tier 3 and 4 towns in the state for our next phase of our expansion in the emerging business segment. Over the last year, we had opened branches in towns such as Tiruchy, Thanjavur, Thiruvarur and Kumbakonam in central TN and are now looking to penetrate deeper into smaller towns in this region.”