Sundaram Home Finance has expanded its operations into Puducherry, targeting the emerging business segment that comprises Affordable Housing Finance and Working Capital Loans. According to reports from The Hindu BusinessLine, this expansion follows the company's earlier entry into Karnataka, Andhra Pradesh, and Telangana during the current year. The company is specifically targeting disbursements of over ₹10 crore in the initial phase of this new market segment.
On the strategic expansion, D. Lakshminarayanan, MD of Sundaram Home Finance, highlighted Puducherry's potential as a vibrant affordable housing market. As reported by The Hindu BusinessLine, he noted that there are numerous small affordable housing communities situated on the outskirts of Puducherry, which presents a thriving market opportunity for the company's affordable housing segment. The MD also emphasized that Puducherry serves as an education hub with rising job opportunities, which are expected to drive demand in the affordable housing segment.
Sundaram Home Finance currently provides a comprehensive range of financial services including home loans, plot loans, home improvement and extension loans, affordable housing finance, loans against property, and small ticket loans to entrepreneurs. According to the company's recent disclosures, the emerging business segment has achieved a significant milestone by crossing 100 branches, with more than half of these locations established in Tamil Nadu.
