Sundaram BNP Paribas Q2 disbursements up 32%

Sundaram BNP Paribas Home Finance plans to raise about ₹ 1500 crore during the second half of this fiscal to fund its growth plans.

Around 70 per cent will be raised through debentures and short-term market borrowings.

The company has reported a net profit of ₹40.31 crore for the quarter ended September 30, 2017, compared with ₹39.21 crore in the same period last year. It registered a 32 per cent increase in home loan disbursements at ₹439 crore for the second quarter of this fiscal against ₹334 crore in the year-ago quarter “The strong 32 per cent growth in home loan disbursements in Q2 gives us the confidence that the worst may be behind the sector. While Andhra Pradesh, Karnataka and Kerala registered good growth, the most heartening news has been the growth of almost 40 per cent registered in the Chennai market,” said Srinivas Acharya, Managing Director.

More than 40 per cent of the company’s disbursement is for the affordable housing segment, which will continue to be an important growth driver in the second half of the fiscal.

“We expect second half to be equally good and are targeting growth of 20 per cent this year in home loan disbursements.”