Sundaram BNP Paribas to disburse Rs 1,800 cr

Tiruchirapalli: Sundaram BNP Paribas Home Finance Ltd, the home finance subsidiary of Sundaram Finance Ltd, looks set to achieve its Rs 1,800 crore home loan disbursements target for the fiscal 2011-12, a top official of the company said on Monday.

The company has already made disbursements worth Rs 1,210 crore toward home loans, said Managing Director Srinivas Acharya.

"With this positive trend, we are confident of achieving our full-year target of Rs 1,800 crore," he said.

Acharya said with the achievement of Rs 1,210 crore in less than three quarters,the company had enhanced its disbursements growth by 59 per cent vis-a-vis the same period last year, when it stood at Rs 771 crore.

The company is also looking to increase its market share in South India to 15 per cent by 2013-14, he said. "We are quite strong in the South, with about 6 per cent market share. Our target is to step it up to 15 per cent 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 whether there was a requirement to raise 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 volumes on account of the recent upward revision in 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.

Source: Financial Express