Sundaram Finance to focus on core markets; deepen presence

Non-banking finance company Sundaram Finance would focus on its core markets besides explore opportunities in newer geographies as part of deepening its presence in FY19-20, a top official said Friday.

Addressing the share holders at the company's 66th annual general meeting, Chairman S Viji said uncertainities surrounding market liquidity, interest rates, and introduction of BSVI emission norms rendered forecasts difficult.

"The government's continuing thrust on infrastructure should hopefully provide some impetus to the construction equipment and related segments," he said.

On the company's disbursements, he said it grew by 9.3 per cent to Rs 17,170 crore in 2018-19 mainly due to focus on construction eqiupment, intermediate and light commercial vehicle segments.

"The Gross and Net NPAs as at March 31, 2019 stood at 1.33 per cent and 0.83 per cent, a testimony to the prudent credit underwriting policies of the company," he said.

On growth opportunities, company managing director TT Srinivasaraghavan said over the years, Sundaram Finance has grown on the basis of prudence.

"Our growth this year will be cautious, without compromising quality. In recent years, we have ventured into new states and geographies and are now deepening our presence in some of them, he said.