Custom Search

Wednesday, October 28, 2015

Sundaram BNP Paribas posts 27% rise in net profit

Sundaram BNP Paribas Home Finance has reported a 27 per cent increase in its net profit for the second quarter ended September 30, 2015 at Rs. 40.52 crore.

Income from operations rose marginally from Rs. 238 crore to Rs. 242 crore during the second quarter. The company had disbursed Rs. 450 crore in this quarter compared with Rs. 537 crore in the same quarter last year.

Srinivas Acharya, Managing Director, Sundaram BNP Paribas Home Finance, said in a press release that the real estate sector continues to be sluggish.

He said, "The recovery has been delayed and still seems at least a few months away. We are continuing to witness stiff resistance from buyers and the quantum of unsold stock remains a concern. Improvement in hiring sentiments, especially in the IT sector, could trigger a recovery in the home buying space later this year."

Sundaram BNP Paribas Home Finance Ltd.
is a 50.1% - 49.9% joint venture between Sundaram Finance and BNP Paribas of France.

Source : Thehindubusinessline


Post a Comment

Popular Posts

Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site