Sundaram Home Finance is poised for significant growth in Maharashtra, with plans to increase its total disbursements in the state to ₹450 crore this fiscal year, up from ₹250 crore in FY24.
To support this growth, the company has opened its second office in Pune, marking its sixth branch in the state. The new Pune branch will focus on providing home loans aimed at the mid-market segment, with an average loan size of approximately ₹40 lakh. In FY24, the company’s first Pune branch disbursed over ₹100 crore.
Pune a key market
“Pune is rapidly becoming a key market for home finance, with its proximity to Mumbai spurring infrastructure development and attracting IT companies. The success of our first branch in Pune has driven our decision to expand further. We are confident that our presence will help us capitalise on the growing opportunities in the city and expand our customer base,” said D Lakshminarayanan, MD of Sundaram Home Finance (SHF).
He further added, “Tier-2 towns in Maharashtra are experiencing strong economic growth, leading to increased demand for residential properties. We aim to steadily expand our footprint in the state by reinforcing our presence in existing locations.”
Earlier this year, the company also expanded into Navi Mumbai. Reflecting on the initial response, Lakshminarayanan noted, “We have witnessed strong demand for home loans in the first six months of our Navi Mumbai operations and expect this trend to continue. We are currently enhancing our team in Mumbai to prepare for our next phase of growth.”
In addition to the Pune and Navi Mumbai branches, SHF also operates in Thane, Nashik, and Nagpur within Maharashtra. While the company will continue strengthening its presence in southern India, particularly in Tier-3 and 4 towns, it remains committed to exploring opportunities outside the South, with plans to expand gradually into select regions in West and Central India.