With the housing market set to recover, home loan company Sundaram BNP Paribas Home Finance (SBNPPHF) is now planning to expand and boost its presence
with more investments in the 4 southern markets this year. The housing finance associate of Sundaram Finance obtained a 39% increase in disbursements in 2009-10.
Sundaram BNP Paribas Home completed FY10 with a net profit of Rs 27.72 crore. Like Sundaram Finance, the associate also had the best net NPA of mere 0.11%, again displaying the concentrating on customer quality, as per a company release.
Sundaram Home will utilize the ‘hub-and-spoke’ system for expansion as it goes into the next stage of growth. For the next year, Sundaram BNP Paribas Home Finance will be particularly targeting Karnataka and Kerala markets. It anticipates contribution from these markets to go up from the present single digit levels.
The company’s expansion in Karnataka and Kerala will involve starting up of new offices in Hubli, Mangalore and Mysore areas in Karnataka and in Kollam and Malappuram districts and the Trivandrum market in Kerala, among other places in both these states.
Sundaram Home will also extend its reach in Tamil Nadu and Andhra Pradesh by going more into tier II and tier III towns in both these states. It will also look into the likelihood of venturing into other places in India.