Business Standard

Sundaram BNP Home to raise Rs 2,700 cr this fiscal to up assets under management

Related News

Finance, the home finance subsidiary of Sundaram Finance Limited, is planning to raise around Rs 2,700 crore during the current financial year, which would help the company in closing the year with Rs 5,000-crore (AUM).

Srinivas Acharya, managing director, Sundaram BNP Home Finance, said that 40 per cent of the money would be raised through non-convertible debentures (NCDs), and the remaining from the National Housing Board, debts, commercial papers and public deposits.

At present, the company’s assets under management (AUM) is around Rs 2,500 crore. Also, its securitisation would be increased from the present Rs 300 crore to Rs 500 crore.

“This is mainly due to the increase in the portfolio size,” G Sundararajan, chief financial officer of Sundaram BNP, said, adding that the company was looking at entering project financing from next year. “We will start with a small experiment with a ticket size of Rs 10-20 crore.”

The company has reported a net profit of Rs 94 crore for the year ended March 31, 2012, as compared to Rs 47 crore a year ago. Disbursements rose 61 per cent to Rs 1948 crore from Rs 1210 crore, while net non-performing assets (NPAs) stood at 0.06 per cent, as compared to 0.09 per cent a year ago. “We will close the fiscal with Rs 2500-crore disbursements,” Acharya added.

Read more on:   
|
|
|
|

Read More

Rupee falls on oil demand, weaker euro

The rupee fell to near a one-week low on Monday hit by heavy demand for dollars from oil importers and tracking a euro that was under pressure.

Quick Links

More news from Finance Rss icon

Long term motor policies for commercial vehicles is sometime away

It is estimated that the combined ratio for motor insurance might touch 200% by the end of March 31, 2015

The going gets tough for insurance claim investigators

Many operating in insurance claims investigation space are facing hardships during probing suspicious claims

At RBI's Sept 30 review, most external members sought a rate cut

While three members sought a cut of 25 basis points (bps), one argued for a 50-bps cut

Back to Top