Sundaram Home Finance Q3 net up 36% to Rs 56 cr, disbursements fall

Company optimistic about growth going forward, sees demand push from stamp duty reduction by states, softer prices by builders

Sundaram Home Finance Ltd, a wholly-owned subsidiary of Sundaram Finance Ltd, has posted a 36 per cent growth in net profit for the third quarter ended December 31, 2020 at Rs 56.24 crore, from Rs 41.31 crore a year ago.

Disbursements for Q3 stood at Rs 416.57 crore as compared to Rs 536.33 crore in the comparative period the previous year.

Lakshminarayanan Duraiswamy, MD, Sundaram Home Finance said, “We have seen a revival of real estate markets across major metros and smaller towns. A few states have also driven demand revival through a reduction in stamp duty and premium. In addition, builders/developers