The company that had registered disbursements of around Rs. 50 crore in the State in the segment in FY26, is now targeting disbursements of Rs. 150crores this year.
Sundaram Home Finance is also planning to expand its branch network this year in Andhra in the EB segment.
Sundaram Home Finance, the wholly owned subsidiary of Sundaram Finance, provides home loans, plot loans, home improvement and extension loans, affordable housing finance, loans against property and small ticket loans to entrepreneurs.
The company currently has around 10 EB branches in Andhra and is now looking to double its branch network to 20 this year with most of the expansion set to take place in smaller towns in the state. As a first step of this current expansion, the company recently opened a branch in Chittoor.
As part of its expansion plans, the company is planning to hire around 60 people in Andhra Pradesh.
“In the first year of our EB launch in Andhra, we have seen consistent growth across all our branches. The Andhra Government has been focusing on industrial development in smaller towns in the state and this augurs well for fresh employment that is likely to drive the housing growth,” D. Lakshminarayanan, MD, Sundaram Home Finance said.
“We believe there will be new growth opportunities in the Affordable Housing segment and our planned expansion in the Tier 2 and 3 towns in Andhra reflects our desire to leverage these emerging opportunities in the EB segment,” he added.
The company has over 100 branches in the EB segment spread across the South market.
