Sundaram BNP Home Finance to raise around Rs.4,000 crore

Last Updated: Tue, Apr 30, 2013 16:10 hrs

Chennai, April 30 (IANS) City based Sundaram BNP Paribas Home Finance will get a capital infusion of Rs.100 crore from its two promoters while it would borrow around Rs.3,950 crore, said a top company official.

"The two promoters infused additional capital of Rs.100 crore last year and a similar amount could take place this year," managing director Srinivas Acharya told reporters here Tuesday.

The housing finance company is a joint venture between Sundaram Finance and BNP Paribas.

According to Acharya, the company would raise Rs.3,950 crore including Rs.1,250 crore from National Housing Bank and Rs.1,500 crore debt.

He said the company plans to disburse Rs.3,100 crore during 2013-14 up from Rs.2,572 crore disbursed the last fiscal.

Expecting the home loan segment to grow by 20 percent this fiscal, Acharya said the company would expand its branch network 150 by adding 50 more branches this year.

He said the company plans to expand in Maharashtra, Gujarat and Rajasthan this fiscal.

Last fiscal, Sundaram BNP Paribas Home Finance earned a net profit of Rs.126 crore up from Rs.94 crore earned during 2011-12.

Last fiscal the company disbursed home loans Rs.2,572 crore up from Rs.1,948 crore disbursed during 2011-12.

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