Sundaram Home Finance Opens New Doors, Aims for ₹300 Crore in MP Loans

Image Source: The Economic Times

Sundaram Home Finance is ramping up its presence in Madhya Pradesh, aiming to disburse ₹300 crore in home loans this financial year. The move comes alongside the opening of two new branches in Pithampur and Ratlam, expanding the company’s network in the state to five locations.

Key Highlights:

Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has opened new branches in Pithampur and Ratlam, adding to its existing branches in Indore and Bhopal.
With these additions, the company now operates five branches across Madhya Pradesh, reflecting its commitment to expanding beyond its traditional southern markets.
The target for the current financial year is to disburse ₹300 crore in home loans across the state, focusing on both established urban centers and emerging towns.

Managing Director D Lakshminarayanan highlighted that Madhya Pradesh is a key market outside South India, thanks to its rapid industrial growth and rising customer affordability.

Over the past year, the company has seen strong demand for home finance in cities like Indore and Bhopal, especially in the mid-segment, where the average loan ticket size is around ₹40 lakh.

Similar demand is expected in Pithampur and Ratlam, with the company optimistic about leveraging new growth opportunities in these areas.

Last year, Sundaram Home Finance crossed ₹1,000 crore in disbursements outside South India, and now operates over 150 branches nationwide.

Source: Business Standard, The Hindu BusinessLine, Economic Times, Rediff Money