Sundaram BNP to expand business

Sundaram BNP Paribas Home Finance, a 50.1:49.9 JV between Sundaram Finance Ltd and BNP Paribas, is expanding its presence into select markets in western and eastern India.The company, which has established its presence in the south, recorded a 63 per cent growth in business last year.

It has forayed into West Bengal by setting up an office in Kolkata. Over the next quarter, it would enter Orissa and Maharashtra by opening up offices in Bhubhaneshwar and Nashik.

Simultaneously, Sundaram Home Finance has expanded into four new Tier II locations in Andhra Pradesh at Karimnagar, Kurnool, Nizamabad and Srikakulam and in Karnataka at Udupi and Shimoga. This apart, it is setting up new offices in existing locations at Chennai, Bangalore, Hyderabad and Kochi.

Sundaram BNP Paribas Home Finance ended the fiscal 2011 with a net profit of Rs 47.68 crore and disbursements of Rs 1,210 crore.

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