Sundaram Home Fin FY13 net rises 35%

Written by feBureau | Chennai | Updated: May 1 2013, 08:20am hrs
Sundaram BNP Paribas Home Finance has posted a net profit of R126 crore in FY13 against R94 crore last year, registering a growth of 35%.

Home loan disbursements went up 32% to R2,572.38 crore from R1,948.12 crore.

Managing director Srinivas Acharya said, We were able to achieve strong home loan growth of 32% primarily by our continued expansion in the south and contribution from new locations in this region.

Total borrowings stood at R5,358 crore as on March 31 against R3,710 crore last year.

Capital adequacy ratio as on March 31 was 15.4% against minimum required of 12%.