Sundaram Home Finance is targeting to treble disbursements in the emerging business (EB) segment in Andhra Pradesh this year, according to reports from The Hindu BusinessLine. The company disbursed ₹50 crore in Andhra Pradesh in this segment during FY26 and is now targeting disbursements of ₹150 crore this year. The housing finance company currently has around 10 EB branches in Andhra Pradesh and is now looking to double its branch network to 20 this year, with most of the expansion set to take place in smaller towns in the State. As per the company's latest statement, the expansion reflects their desire to leverage emerging opportunities in the EB segment.
As a first step of this current expansion, the company recently opened a branch in Chittoor, as reported by The Hindu BusinessLine. The housing finance company currently has over 100 branches in the EB segment spread across the South Indian market. The company is planning to hire around 60 people in Andhra Pradesh for the EB segment to drive its growth in the State, with most of the expansion focused on tier 2 and 3 towns to capitalize on new growth opportunities in the affordable housing segment.
D Lakshminarayanan, MD, Sundaram Home Finance, stated that "In the first year of our EB launch in Andhra Pradesh, we have seen consistent growth across all our branches," according to The Hindu BusinessLine. The Andhra government has been focusing on industrial development in smaller towns in the State, and this augurs well for fresh employment that is likely to drive the housing growth. He added that "We believe there will be new growth opportunities in the affordable housing segment, and our planned expansion in the tier 2 and 3 towns reflects our desire to leverage these emerging opportunities in the EB segment."
Sundaram Home Finance, the wholly owned subsidiary of Sundaram Finance, provides home loans, plot loans, home improvement & extension loans, affordable housing finance, loans against property and small ticket loans to entrepreneurs, as reported by The Hindu BusinessLine. The company's expansion in Andhra Pradesh represents a significant growth opportunity in the emerging business segment, with the focus on smaller towns positioning them well to capture the affordable housing market in these developing areas.
