Sundaram Home Finance has expanded its footprint into Chhattisgarh, opening a new branch in Raipur aimed at the prime home finance segment.

This marks the company’s first foray into the state as it continues to extend its presence beyond its traditional South Indian markets.

Previously, the company established branches in Maharashtra, Madhya Pradesh, Gujarat, and Rajasthan.

Earlier in 2024, Sundaram Home Finance bolstered its presence in non-South regions with branch openings in Mumbai and Kota, Rajasthan.

Last quarter, the company further expanded in Maharashtra and Madhya Pradesh by opening branches in Pune and Indore.

“This aligns with our plan to selectively grow in regions outside South India where we see robust growth opportunities, while continuing to consolidate in the South.

Raipur is evolving into a significant industrial and commercial centre and is transforming into a smart city, comparable to metro areas. The city is also attracting top developers, creating an ideal market for our prime home finance segment, which caters to salaried and self-employed customers with an average loan size of around ₹35 lakh,” said D Lakshminarayanan, Managing Director of Sundaram Home Finance.

Following the opening of the Raipur branch, the company aims to open two more locations in the state. “We’re targeting disbursements of approximately ₹50 crore in our first year here,” he added.

The company reported a 25 per cent increase in overall disbursements, reaching Rs.2,896 crore in the first half of the current fiscal year.

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