Sundaram Home Finance net surges

Sundaram BNP Paribas Home Finance has reported a more than 60 per cent jump in net profit during the first quarter of FY12-13 compared to the corresponding period last year. According to a press release, the home finance subsidiary of Sundaram Finance reported a net profit of Rs 29 crore (Rs 18 crore) for the quarter ended June 30, 2012. Home loan disbursements were Rs 562 crore (Rs 413 crore) and loan assets under management increased to Rs 4,600 crore from Rs 3,100 crore last year. The company added 10 offices to expand its branch network to 84. Sundaram Home Finance has over 36,000 home loan customers.