Sundaram BNP Paribas Home Finance today announced 47.48 per cent jump in net profit at Rs 36.37 crore for the third quarter ended December 2012, driven by the growing real estate market in South India.
Announcing the financial results for the quarter, the home finance subsidiary of Sundaram Finance Ltd said it had made a net profit of Rs 24.66 crore during the corresponding quarter in 2011.
The company's home loan disbursements for the third quarter went up by 32 per cent to Rs 647 crore from Rs 492 crore registered in the same period in 2011.
Home Loan Disbursements for the nine months ended December 31, 2012 increased to Rs 1,891 crore from Rs 1,359 crore registered in the comparative period the previous year.
Commenting on the performance, Srinivas Acharya, MD, Sundaram BNP Paribas Home Finance said, "Our expansion into markets outside South has begun to register reasonable growth this year and we will continue to expand our presence in these newer markets".
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app