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Sundaram Home Finance has launched its affordable housing solution, Anugraha, to cater to lower and mid-income families in Tier II and III towns. The initiative is part of its Emerging Business division, which also covers small-business loans. The company began its entry into affordable housing finance last year and has now formalised it under the Anugraha brand. With over fifty branches across Tamil Nadu and Andhra Pradesh, it recorded disbursements of more than INR 200 crore in the last financial year. The company sees this new segment as an important driver of its future growth.
Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has introduced Anugraha, its dedicated affordable housing finance product. The launch is aimed at strengthening the company's presence in Tier II and III towns and serving aspiring homeowners in the lower to mid-income category. This step follows its entry into the affordable housing finance market last year through the Emerging Business segment, which also includes small-business loan offerings. Advertisement
The company explained that Anugraha is designed to support individuals and families seeking access to housing finance at affordable terms. The Managing Director, D. Lakshminarayanan, noted that the company remains positive about the potential of affordable housing finance and considers it a fast-growing segment. He further added that the product matches the company's plan to expand into smaller towns in a structured way. Along with small-business loans, the affordable housing segment is expected to be a strong contributor to growth over the next few years.
Sundaram Home Finance currently operates over fifty branches in Tamil Nadu and Andhra Pradesh within the Emerging Business division. In the most recent financial year, the company disbursed over INR 200 crore through this segment, highlighting steady progress since its foray into the space. The formal rollout of Anugraha now gives the company a distinct brand for affordable housing finance, setting a clearer direction for its efforts in this category.
Source PTI
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