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Sundaram BNP Paribas Home Finance has reported an 11 per cent growth in net profit for the second quarter of the current year as compared with the corresponding quarter last year.
For the quarter ended September 30, it reported a net profit of ₹36.11 crore (₹32.62 crore) on an income of ₹238.49 crore (₹215.13 crore).
Srinivas Acharya, Managing Director, said the real estate market continues to be sluggish in the back drop of overall sentiments.
Loan disbursements have slowed during the first half of the years at about ₹1,022 crore against ₹1,338 crore in the comparable period previously.
Unsold stock with real estate developers continues to remain high with estimates ranging widely. Buyers are waiting for a possible drop in prices. The second-half of the year could see some increase in activity.
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