Chennai, March 4: Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, marked a significant milestone in its expansion drive by inaugurating its 50th branch under the Emerging Business (EB) segment in Arani, North Tamil Nadu. The expansion is part of the company's strategic initiative to strengthen its foothold in the region.
The Chennai-based firm, which launched its Emerging Business vertical in October 2022, provides small business loans of up to ₹20 lakh to local businesses and affordable housing loans up to ₹35 lakh. The new branch in Arani coincides with similar recent openings in Ambur, Gudiyattam, and Tirupathur, signifying the company's strategic focus on North Tamil Nadu.
Commenting on the milestone, Sundaram Home Finance Managing Director D Lakshminarayanan said, "We have already established a strong presence in West and South Tamil Nadu under our Emerging Business segment. The current expansion underscores our focus on the North Tamil Nadu market, where we anticipate loan disbursements of ₹50 crore over the next 12 to 18 months."
Lakshminarayanan further emphasized the company's commitment to empowering small businesses and supporting affordable housing needs. "Initially, we introduced small business loans to provide working capital against property, specifically targeting enterprises in smaller towns. Subsequently, we expanded our offerings to include affordable housing finance. Reaching the milestone of our 50th branch is a crucial step in reinforcing our market position," he added.
Looking forward, Sundaram Home Finance plans to rapidly accelerate growth by establishing the next 50 branches beyond Tamil Nadu's borders, particularly in Andhra Pradesh and Telangana. The company's growth roadmap aims for a faster expansion rate compared to its initial phase, reflecting its broader ambitions for the EB segment.
Currently, Sundaram Home Finance operates approximately 150 branches nationwide, with this expansion expected to significantly bolster its market presence in the affordable housing and small business financing sectors.
The Chennai-based firm, which launched its Emerging Business vertical in October 2022, provides small business loans of up to ₹20 lakh to local businesses and affordable housing loans up to ₹35 lakh. The new branch in Arani coincides with similar recent openings in Ambur, Gudiyattam, and Tirupathur, signifying the company's strategic focus on North Tamil Nadu.
Commenting on the milestone, Sundaram Home Finance Managing Director D Lakshminarayanan said, "We have already established a strong presence in West and South Tamil Nadu under our Emerging Business segment. The current expansion underscores our focus on the North Tamil Nadu market, where we anticipate loan disbursements of ₹50 crore over the next 12 to 18 months."
Lakshminarayanan further emphasized the company's commitment to empowering small businesses and supporting affordable housing needs. "Initially, we introduced small business loans to provide working capital against property, specifically targeting enterprises in smaller towns. Subsequently, we expanded our offerings to include affordable housing finance. Reaching the milestone of our 50th branch is a crucial step in reinforcing our market position," he added.
Looking forward, Sundaram Home Finance plans to rapidly accelerate growth by establishing the next 50 branches beyond Tamil Nadu's borders, particularly in Andhra Pradesh and Telangana. The company's growth roadmap aims for a faster expansion rate compared to its initial phase, reflecting its broader ambitions for the EB segment.
Currently, Sundaram Home Finance operates approximately 150 branches nationwide, with this expansion expected to significantly bolster its market presence in the affordable housing and small business financing sectors.