Sundaram Home Finance Ltd.
About the company
Sundaram Home Finance is a deposit-taking home finance company registered with the National Housing Bank, established in 1999 as a subsidiary of Sundaram Finance. Until recently a joint venture between BNP Paribas and the Sundaram Finance group, the company has recently seen BNP Paribas forge an exit by sale of stake to Sundaram Finance, thus becoming a wholly owned subsidiary of the latter from September 2019. The regulation of housing finance companies is set to move from NHB to RBI in the current year with the latter likely to tighten the regulatory framework for HFCs and to bring them on par with other NBFCs. The company’s statutory ratios however appear to be well ahead of regulatory requirements which should make for an easy transition.
The company mainly provides loans for purchase and construction of houses. The company had outstanding deposits to the tune of Rs 1638 crore by March 31 2020. For the full-year ended March 2020, it reported revenues of Rs 1078 crore up by 7.2% and PAT of Rs 218 crore, up by 50.3% over the same period last year.