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CHENNAI: Sundaram Home Finance (SHF), a wholly owned subsidiary of Sundaram Finance, is planning to foray into Telangana in the Emerging Business (EB) segment. The company is targeting to double its disbursements in this segment to more than Rs 400crore over the next 12 months.
EB comprises small business loans of up to Rs 20 lakh for small shops and businesses and affordable housing finance where the company provides loans of up to Rs 35 lakh, SHF said in a statement here on Tuesday.
With more than 40 branches in Tamil Nadu in this segment, it recently expanded to Andhra Pradesh with the opening of five new branches.
“While we will continue to consolidate our presence in tier 2 and 3 towns in Tamil Nadu, the next phase of growth in the EB segment would be driven by expansion in Andhra Pradesh and Telangana,” its MD D Lakshminarayanan said.
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