Sundaram BNP net rises 50%

Written by fe Bureau | Chennai | Updated: Jan 25 2013, 06:01am hrs
Sundaram BNP Paribas Home Finance, the home finance subsidiary of Sundaram Finance, has posted a 50% jump in its net profit to R36.37 crore for the third quarter compared with R24.66 crore registered in the same quarter last fiscal.

Buoyed by a growing real estate market in South India, the companys home loan disbursements fwent up 32% to R647 crore from R492 crore.

Srinivas Acharya, MD, Sundaram BNP Paribas Home Finance said, We continue to maintain a strong growth in Home Loan Disbursements in Q3 on the back of a steady and growing market in the Southern region. 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.