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Sundaram Home Finance which has been expanding its presence beyond Southern markets has reached a milestone of breaching Rs 1,000 crore mark in its disbursements made in non-south markets in FY 2024-25, a top official said. Sundaram Home Finance is a wholly-owned subsidiary of Sundaram Finance Ltd. It provides home loans, plot loans, loans against property and business loans to traders and retailers. The city-headquartered company, a traditional player in south India, has expanded its presence in Maharashtra, Rajasthan and Madhya Pradesh. It also entered into the Chhattisgarh market. For the financial year ending March 31, 2025, Sundaram Home Finance made disbursements of Rs 6,517 crore (including south and non-south markets) which was up by 29 per cent from Rs 5,039 crore disbursements made in the same period of previous financial year (FY2023-24). With the growing presence in the country, the contribution from non-south geographies has doubled in the last couple of years to about
Sundaram Home Finance Ltd on Tuesday announced plans to expand its presence in tier-III towns in western Tamil Nadu under its 'Emerging Business' (EB) segment, citing strong growth potential. The company, a wholly owned subsidiary of non-banking finance company Sundaram Finance Ltd, currently operates over 15 branches in the region, including six under the vertical. As part of its expansion strategy, Sundaram Home Finance aims to disburse over Rs 500 crore in the next 1218 months, with Rs 50 crore targeted specifically at the EB vertical. This move follows the successful launch of its Coimbatore branch, the company stated on Tuesday. "Having established our Coimbatore branch, we are looking to expand further in the Emerging Business segment. The expansion into Pollachi is part of our strategy to penetrate deeper into smaller towns. Small entrepreneurs are thriving in the region and require working capital financing to expand their businesses," said Sundaram Home Finance managing ..
State Bank of India (SBI) has sanctioned around 20,000 loans of Rs 10 lakh to Rs 50 lakh for small businesses as part of a digital lending pilot that started in December, a senior official said on Friday. Having been satisfied with the results of the pilot, under which a customer can get a loan sitting at home, the country's largest lender is now broadening the loan amounts to Rs 5 crore, Deputy Managing Director Surendra Rana said at a banking conference organised by IMC here. "We rolled out the Rs 10-50 lakh model in December and I am happy to share that we have already sanctioned around 20,000 loans through this process and this is working very smoothly. Now, we are escalating it to Rs 5 crore," he said. A customer journey starts with scanning a QR code from anywhere, grants some approvals and SBI uses data repositories to come back with a sanctioned amount in a maximum of five days, he said. The remarks from the official come days after the bank announced that lending to small
Embassy Office Parks REIT has completed the acquisition of a 50 lakh square feet business park in Chennai for Rs 1,185 crore as part of its strategy to expand its office assets portfolio and grow business. The acquisition was funded through a debt of Rs 1,200 crore. In a regulatory filing on Monday, Embassy REIT informed that it has completed the acquisition of 'Embassy Splendid TechZone (ESTZ), a Grade-A business park in Chennai. The business park has 1.4 million square feet of completed buildings, besides under-construction area of 1.6 million square feet and 2 million square feet of future development potential. "The Rs 1,185 crore acquisition was funded primarily through a debt raise of around Rs 1,200 crore and internal accruals," it added. This acquisition increases Bengaluru-based Embassy REIT's total portfolio to 50.5 million square feet. Aravind Maiya, Chief Executive Officer of Embassy REIT, said the completion of this accretive acquisition facilitates the REIT's entry i