Sundaram Home Finance eyes expansion in tier 3 regions

CHENNAI: As part of its strategy to strengthen its presence in its stronghold in Tamil Nadu,

Sundaram Home Finance is targeting to penetrate deeper into smaller towns in the state over the next 12 months.

Having established a strong presence in the West TN with over 15 branches including 6 in the Emerging Business (EB) segment, it is looking at deepening its presence with focus on targeting the tier 3 towns in this region.

Buoyed by its early success in Coimbatore, where it had opened a branch last year, the company has now opened a new EB branch in Pollachi. The branch will provide small business loans to entrepreneurs and small businesses of up to Rs 20 lakhs to meet their working capital requirements and to support their business growth. The company will also target the affordable housing finance market with loans of up to Rs 35 lakh from its new branch in Pollachi.

D Lakshminarayanan, MD, Sundaram Home Finance said, “We are now looking to expand beyond in the EB segment in Coimbatore region. The expansion into Pollachi is part of that strategy to penetrate deeper into smaller towns. Small entrepreneurs are thriving in the region. We are looking to expand our presence in smaller towns such as Tirupur, Dharapuram, Erode and Pollachi.”