CHENNAI: After having taken almost three years for the first 50 branches in the emerging business (EB) segment, Sundaram Home Finance has chalked out plans for an accelerated growth in this segment and is targeting to touch the milestone of 100 EB branches by this year end.
The wholly-owned subsidiary of Sundaram Finance is also targeting to more than double its EB disbursements to around Rs 500 crores in FY26. Last year, it had registered disbursements of over Rs 200 crores in the EB segment.
D Lakshminarayanan, managing director, Sundaram Home Finance, said, “In the first phase of our EB journey, we focused on understanding the market in smaller towns across TN. With 50 branches in place, we are positioned to grow faster as we move beyond TN. We are currently expanding our branch network in Andhra Pradesh, Telangana and Karnataka, while also adding select new locations in Tier 3 and 4 towns within TN.”
Within TN, the company has recently expanded its presence further in the EB segment with the opening of new branches in Tier 3 and 4 towns such as Pattukottai, Sulur, Thuraiyur and Chidambaram.
In the last couple of months, the company has expanded its presence outside TN by setting EB branches in Jaggaihapet, Puni and Prodattur in Andhra, Nalgonda and Siricilla in Telangana and Udupi, Hospet and Chitradurga in Karnataka.
Lakshminarayanan also said, “the current expansion of the EB entails doubling our branch network in the space of 12 months from the first set of 50 branches. As part of the growth plan, we are targeting to touch the milestone of 100 branches in the EB segment by March 2026 with a large part of the branch network expansion set to take place outside TN.”