Sundaram Home Forays Into AP Mkt

Chennai: Sundaram Home Finance, a wholly-owned subsidiary of the non-banking finance company Sundaram Finance Ltd, has set a target to open 12 branches in Andhra Pradesh over the next 12 months under its Emerging Business segment.

As part of its entry into the Andhra Pradesh market, the company has inaugurated five branches in Guntur, Tirupati, Nellore, Eluru, and Vijayawada. Under the Emerging Business segment, it aims to achieve disbursements of around Rs 75 crore.

Sundaram Home Finance recently launched its Emerging Business segment, offering small business loans of up to Rs20 lakh to businesses and entrepreneurs and Affordable Housing (AH) finance, providing home loans of up to Rs35 lakh to aspiring individuals.

The vertical currently employs over 200 people.