Canfin Homes today launched three non-housing finance products as it aims to increase its business by 30% during the next fiscal.The Bangalore-based Canfin Homes has set the home loan sanctions target of Rs 575 crore and disbursement of Rs 500 crore by March end this year."We plan to grow 30% next fiscal over the current year," Canfin Homes MD K Venkataramaiah said.K Venkataramaiah said during fiscal year 2005-06, Canfin Homes would sanction home loan of Rs 700 crore and disburse amount of Rs 600 crore, besides having a total outstanding of Rs 1,700 crore.Venkataramaiah said the firm plans to achieve a business of Rs 100 crore in 2005-06 from the three non-housing finance products - Venture for practising professionals, Networth for loans against mortgage of properties and N-cash for loan against rent receivables."Yields on housing loans are coming down due to competition," Venkataramaiah said, about the firm's decision to launch non-housing finance products.Venkataramaiah said the focus cities for growth were Bangalore, Hyderabad and Chennai for the firm which plans to open new branches next fiscal to take the total tally to 50.
