Sundaram Home Finance Thrives with Strategic Growth

Sundaram Home Finance reported a net profit of Rs 44 crore for Q3 of 2024, a reduction from Rs 59 crore last year. The company's disbursements grew significantly, driving growth through expansion in Tier II and III cities. The Emerging Business segment contributed notably to their financial performance.

Devdiscourse News Desk | Chennai | Updated: 30-10-2024 20:30 IST | Created: 30-10-2024 20:30 IST

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Sundaram Home Finance announced net profits of Rs 44 crore for the July-September 2024 quarter, a decrease from Rs 59 crore during the same quarter last year.

The Chennai-based subsidiary of Sundaram Finance Ltd saw its disbursements grow to Rs 1,543 crore, exceeding the previous year's Rs 1,214 crore.

Managing Director D Lakshminarayanan attributed this growth to the company's expansion strategy in Tier II and III towns, alongside success in the Emerging Business segment, which focuses on small business loans and affordable housing finance.

(With inputs from agencies.)