Sundaram Home Finance net surges 36% : vimarsana.com

Sundaram Home Finance net surges 36%


Sundaram Home Finance net surges 36%
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Sundaram Home Finance Ltd., the wholly owned subsidiary of Sundaram Finance Ltd., reported third quarter net profit grew 36% to ₹56.24 crore.
Disbursements during the quarter stood at ₹416.57 crore compared to ₹536.33 crore in the year-earlier period. The deposit base stood at ₹1,825 crore, the company said in a statement.
“There is a shortage of houses and the pent-up demand is huge,” said Lakshminarayanan Duraiswamy, MD, Sundaram Home Finance.
“Our outlook is positive. Our focus will continue to be on the southern market as that offers huge opportunities,” he added.
He also said they had seen a revival of real estate markets across major metros as well as smaller towns, while a few States had also driven demand revival through a reduction in stamp duty and premium. In addition, builders/developers had softened prices to liquidate stock.

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