Sundaram Finance

Sundaram Home Finance to double number of branches giving small biz loans

In October last year, the company made a foray into the small business loans segment

Sundaram Home Finance eyes disbursements of over Rs 10 cr in business loans

Sundaram Home Finance, the wholly-owned subsidiary of non-banking finance company Sundaram Finance has set a target to disburse over Rs 10 crore under the small business loans segment, a top company official said on Saturday. The city-headquartered company has stepped up presence with the inauguration of an exclusive small business loans branch in Coimbatore. The company has similar branches in Madurai, Tenkasi, Theni, Sivakasi, Tirunelveli, Salem and Rasipuram. "We have had positive feedback from the locations we have launched so far and are targeting to end this year with disbursements of over Rs 10 crore from the small business loans segment, " company MD Lakshminarayanan Duraiswamy said. Sundaram Home registered a 51 per cent jump in net profit for the third quarter ending December 31, 2022 at Rs 53 crore on disbursements of Rs 986 crore. On the inauguration of new branch in Coimbatore, he said, "We have a strong presence in the Coimbatore region for our home finance ...

Sundaram Home Finance reports net profit of Rs 52.56 crore in Q3

Sundaram Home Finance, a wholly owned subsidiary of Sundaram Finance, has reported a net profit of Rs 52.56 crore for the October-December 2022 quarter, the company said on Thursday. The city-based firm made a net profit at Rs 34.90 crore during the corresponding quarter last year. Disbursements grew to Rs 985.90 crore from Rs 651.84 crore. For the nine-month period ending December 31, 2022, the net profit grew to Rs 150.13 crore compared to Rs 114.63 crore registered in the same period last year. Disbursements soared to Rs 2,759.64 crore from Rs 1,542.42 crore. The company, during the quarter under review, made foray in the small business loans segment wherein it would provide loans of up to Rs 20 lakh to small shops and small business enterprises. It has opened new exclusive branches in Madurai, Tenkasi, Theni, Salem, Rasipuram, Tirunelveli and Sivakasi, the company said. "The initial response from the locations where we have opened exclusive branches has been quite positive. We

Sundaram Finance to revise interest rate on term deposits from Jan 1

Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure of 24 months and for 36 months it would be 7.50 per cent. For senior citizens, the rate of interest would be 7.70 per cent for 12-month deposits, 8 per cent for 24 and 36 months, the city-based Sundaram Finance said in a statement here. The company said its deposit base stood at Rs 4,461 crore.

Sundaram Finance looks to grow AUM beyond Rs 50,000 crore in 3 years

The Chennai-based non-banking finance company is looking to scale up SME lending share to 8-10 per cent share from present two per cent over the medium term

Sundaram Home Finance to revise interest rates on fixed deposits from Dec 1

Sundaram Home Finance would revise its interest rates on fixed deposits for trusts, individuals and senior citizens with effect from December 1, the company said on Tuesday. Accordingly, the city-headquartered firm, a wholly owned subsidiary of Sundaram Finance Ltd, would revise the rates by 50 basis points across trusts, individuals 7.15 per cent as against 6.65 per cent, senior citizens 7.50 per cent as against 7 per cent, on deposits for 12 months. The company, for senior citizens, would revise the interest rates to 7.50 per cent as against 7.35 per cent for tenures of 24 months, 7.80 per cent from 7.65 per cent (36 months) and 8 per cent from 7.90 per cent for 48 months. For Trusts, the interest rates have been increased to 7.15 per cent for 24 months earlier 7 per cent, 7.80 per cent as against 7.65 per cent for 36 months and 8 per cent for tenures of 48 months as against 7.90 per cent. The rates, for individuals other than senior citizens, have been increased to 7.15 per cent

Sundaram Finance to revise interest rates on deposits from November 16

Non-banking finance company Sundaram Finance on Saturday said the firm would revise interest rates on deposits for the general public and senior citizens with effect from November 16. For the public, the rate on one-year deposits would be 7.15 per cent against the existing 6.65 per cent; for 24 months it would be 7.15 per cent against 7 per cent; and for deposits of 36 months, it would remain unchanged at 7.30 per cent, a statement from the company said here. For senior citizens, the rate on deposits of one year would be 7.50 per cent as against 7 per cent; and for deposits up to 24 months, the rate would be 7.50 per cent against 7.35 per cent. For deposits of 36 months, the interest rates would be 7.80 per cent against 7.65 per cent, the company said. The current deposit balance as of October 31, 2022 stood at Rs 4,273 crore, the company said.

NBFC Sundaram Finance Ltd revises interest rates on term deposits

Non-banking finance company Sundaram Finance Ltd has revised the interest rates on term deposits for tenures of one to three years with immediate effect, the company said on Sunday. Accordingly, the interest rates for deposits of up to 12 months has been increased to 6.65 per cent, for 24 months it has been hiked to 7 per cent, the company said in a statement. For tenures of up to 36 months, the interest rates have been increased to 7.30 per cent. Senior citizens would get an additional interest of 0.35 per cent for one year at 7 per cent, 7.35 per cent for tenures up to two years and 7.65 per cent for tenures up to three years. The company said its deposit balance stood at Rs 4,219 crore.

Tier-II,III cities to drive growth over next 2 years: Sundaram Home Finance

'The housing market will continue to remain resilient and grow this year, flagged by a strong underlying end user demand and growth of smaller cities,'

Sundaram receives Sebi nod for purchase of Principal AMC in India

Sundaram Asset Management Company would acquire the schemes managed by Principal India and acquire 100 per cent of the share capital of Principal Asset Management Pvt Ltd

Sundaram Finance, MSME Development Institute to handhold MSMEs on marketing

Support for entrepreneurial and managerial development of MSMEs through incubators scheme focusses on providing opportunity to the innovators in developing and nurturing their new innovative ideas

Sundaram Finance to create awareness on govt schemes like MSME Samadhaan

Under MSME Samadhaan, a portal for delayed payment has been created for empowering micro and small entrepreneurs across the country to directly register their cases relating to delayed payments

Sundaram Home Finance seeks to raise Rs 2,500 cr to fund growth plans

Sundaram Home Finance is a leading player in the housing finance sector and has 107 branches across the country.

Sundaram Finance records 59.5% jump to Rs 209 cr in Q4 profit after tax

Non-Banking Finance Company Sundaram Finance Ltd has reported a 59.5 per cent jump on its fourth quarter Profit After Tax at Rs 209 crore.

Sundaram Home Finance mulls raising Rs 2,500 crore to fund growth

Sundaram Home Finance is a wholly-owned subsidiary of non-banking finance company Sundaram Finance Ltd

Sundaram Finance Q3 profit up 45% to Rs 242 cr, disbursements up 8%

Assets under Management stood at Rs 31,226 crore as on December 31, 2020 compared to Rs 30,502 crore a year ago

Sundaram AMC to buy Principal's core businesses for undisclosed sum

Principal Asset decided to exit the asset management business in India

Senior TVS family members to file composite amalgamation scheme with NCLT

Group has over 50 firms managed by various branches of the TVS family tree. With time, the members felt ownership of shares in various enterprises should be in sync with their management

Srinivasaraghavan to retire in March after 18 years as Sundaram Finance MD

He has been with the company for the past 38 years, will be succeeded by Rajiv Lochan

Sundaram Home Finance to raise Rs 2,000 cr in H2 through debt, bank funding

The company plans to raise it through a mix of debt instruments and bank funding