Sundaram Home Finance is ramping up its presence in Rajasthan as part of its strategic expansion initiative, aiming for disbursements totaling Rs 300 crore in the state over the next two to three years, according to a senior official. The Chennai-based company, known for its offerings including home loans, plot loans, home improvement and extension loans, as well as loans against property, has recently bolstered its operations in Western India.
In line with this expansion, Sundaram Home Finance inaugurated a new branch in Kota, Rajasthan, with plans for another branch launch in Udaipur in the near future, as announced in a statement released on Friday.
The company already operates branches in key cities like Jaipur, Ajmer, and Jodhpur in the Rajasthan market, foreseeing substantial potential to achieve disbursements of approximately Rs 300 crore in the state within the specified timeframe.
Managing Director Lakshminarayanan Duraiswamy highlighted the company’s recent efforts in strengthening its presence in South India, particularly in Tier II and III towns. While the focus remains on deepening penetration in remote areas within this market, Sundaram Home Finance is also exploring opportunities for further expansion in specific regions beyond South India.
In February, Sundaram Home Finance expanded its operations into Navi Mumbai, signaling its intent to tap into the Western India market. Duraiswamy emphasized that the ongoing expansion in Rajasthan, coupled with plans to target Western India, will contribute to gradually broadening the company’s footprint beyond South India.
Currently, Sundaram Home Finance boasts a network of over 140 branches spanning the Southern region, Madhya Pradesh, Rajasthan, Maharashtra, and Gujarat.