Sundaram Paribas aims Rs 1800 cr in home loan disbursement

Sundaram BNP Paribas Home Finance, the home finance subsidiary of Sundaram Finance Ltd, is set to garner home loan disbursement business target of Rs 1800 crore for the fiscal 2011-12, a top official of the company said today.

The company has already crossed home loan disbursements of Rs 1210 crore, its Managing Director Srinivas Acharya told PTI here. "With this positive trend, we are confident of achieving our full year target of Rs 1800cr", he said. Acharya said with the achievement of Rs 1210 crore in less than three quarters,the company had enhanced its disbursements growth by 59% compared to the same period last year when it was Rs 771 crore.

The company is also looking to increase its market share in south India to 15% by 2013-14, he said. "We are quite strong in south with about six per cent market share. Our target is to step it up to 15%by 2013-14", he said. "In addition to the 50 branches started at the beginning of the year,another 6-7 branches would be added before March 2012. The new branches would come up in Bhubaneshwar, Nashik and Kolhapur", he said.

To a query on mopping up of funds for further disbursements he said "funds have been clearly lined up. Our own fund resources are absolutely fine to meet our current disbursement target."

To a question whether there would be any dent in business volume on account of recent upward revision of guideline value across Tamil Nadu, Acharya said "there could be some momentary price resistance but this would get stabilised just like any other commodity facing price increment. We are optimistic about Tamil Nadu maintaining excellent market potential in the future as well.", he said.