Sundaram Finance has announced the appointment of D Lakshminarayanan as the Managing Director of its wholly owned subsidiary, Sundaram Home Finance, effective April 1, 2020.
In May 2019, Sundaram Home had inducted Lakshminarayanan, from within the Sundaram Finance group, as Executive Director. In October, he was appointed as a Whole-time Director on the board of Sundaram Home Finance.
Lakshminarayanan, who has been with the Sundaram Finance Group for over a decade, will take over from Srinivas Acharya, who had been Managing Director of Sundaram Home Finance since 2010, according to a statement. The latter was part of the Sundaram Finance Group for almost four decades.
Sundaram Home Finance reported a total income of ₹1,006.27 crore and net profit of ₹145.48 crore for FY19. The company has 115 branches across the country.