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Sundaram BNP Paribas Home Finance today announced a 47.48 per cent jump in net profit at Rs 36.37 crore for the third quarter ended December 2012, driven by the growing real estate market in South India.
Announcing the financial results for the quarter, the home finance subsidiary of Sundaram Finance Ltd said it had made a net profit of Rs 24.66 crore during the corresponding quarter in 2011.
The company’s home loan disbursements for the third quarter went up by 32 per cent to Rs 647 crore from Rs 492 crore registered in the same period in 2011.
Home loan disbursements for the nine months ended December 31, 2012, increased to Rs 1,891 crore from Rs 1,359 crore registered in the comparative period in the previous year.
Commenting on the performance, Srinivas Acharya, MD, Sundaram BNP Paribas Home Finance said, “Our expansion into markets outside South has begun to register reasonable growth this year and we will continue to expand our presence in these newer markets”.
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