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Sundaram Residence Finance This fall web revenue jumps 45 per cent to Rs 53 cr

Chennai-headquartered Sundaram Residence Finance has posted a 45 per cent development in its fourth quarter web revenue at Rs 53.05 crore. It had posted a web revenue of Rs 36.60 crore within the corresponding quarter of the earlier yr. 

Disbursements in Q4FY22 grew by 73 per cent year-on-year to Rs 794.11 crore as in opposition to Rs. 459.38 crore in the identical earlier interval. The corporate registered report disbursement of over Rs 300 crore in March 2022. 

“The report disbursements in March this yr is a transparent signal of the resilience in the true property sector. We’ve seen an uptick in enterprise in Tier-2 and three cities within the southern market, with the contribution from these geographies going as much as round 70 per cent on the finish of This fall, from about 55 per cent a yr earlier,” D Lakshminarayanan, MD, Sundaram Residence Finance, stated in a press assertion. 

The corporate will proceed to strengthen its presence within the Southern market and is planning to open 10 branches in Tier-2 and three cities in Tamil Nadu, North Karnataka, AP and Telangana.

“Whereas the lending charges have remained at an unprecedented low within the final couple of years, we count on this to go up a couple of notches this yr. Earlier this month, we noticed the primary fee hike in over two years. Regardless of the hike, the charges proceed to be engaging for the retail buyer,” Lakshminarayanan stated.

Printed on

Could 14, 2022

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