Sundaram BNP Paribas Home Finance, the home financing subsidiary of Sundaram Finance Ltd, plans to raise Rs 2,500 crore in 2015-16 through a mix of debt and deposits.
The company had set a target to achieve Rs 100 crore business from rural housing financing this year.
It was sanctioned Rs 1,000 crore by the National Housing Bank (NHB).
"We expect more appetite from affordable housing finance companies (HFCs) for their onward lending to the affordable housing segment. The smart cities project announced recently could be a trigger to aid the recovery in the real estate sector that had been sluggish for the last couple of years," he said.
Sundaram Home Finance had added new business to the tune of Rs 25 crore through the acquisition of home loan portfolios of HFCs and through securitisation in the second half of the last year. The company would continue to explore acquiring home loan portfolios of HFCs. Acharya said there was a potential to acquire home loan portfolio of HFCs to the tune of around Rs 100 crore this year.
The company clocked a net profit of Rs 146.42 crore for the full year ended March 31, 2015, when compared with Rs 150.73 crore in the previous fiscal.
Income from operations stood at Rs 954 crore for 2014-2015, as against Rs 887 crore seen in the previous year. Its loans under management stood at Rs 7,486 crore as on March 31, 2015. Home loan disbursements for 2014-15 stood at Rs 1,939 crore as against Rs 2,493 crore in the previous year. Net NPAs stood at 0.75 per cent as on March 31, 2015, when compared with 0.46 per cent a year ago.
The company had set a target to achieve Rs 100 crore business from rural housing financing this year.
It was sanctioned Rs 1,000 crore by the National Housing Bank (NHB).
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Srinivas Acharya, managing director, Sundaram BNP Paribas Home Finance, said the Centre's thrust on housing augured well for the housing finance sector.
"We expect more appetite from affordable housing finance companies (HFCs) for their onward lending to the affordable housing segment. The smart cities project announced recently could be a trigger to aid the recovery in the real estate sector that had been sluggish for the last couple of years," he said.
Sundaram Home Finance had added new business to the tune of Rs 25 crore through the acquisition of home loan portfolios of HFCs and through securitisation in the second half of the last year. The company would continue to explore acquiring home loan portfolios of HFCs. Acharya said there was a potential to acquire home loan portfolio of HFCs to the tune of around Rs 100 crore this year.
The company clocked a net profit of Rs 146.42 crore for the full year ended March 31, 2015, when compared with Rs 150.73 crore in the previous fiscal.
Income from operations stood at Rs 954 crore for 2014-2015, as against Rs 887 crore seen in the previous year. Its loans under management stood at Rs 7,486 crore as on March 31, 2015. Home loan disbursements for 2014-15 stood at Rs 1,939 crore as against Rs 2,493 crore in the previous year. Net NPAs stood at 0.75 per cent as on March 31, 2015, when compared with 0.46 per cent a year ago.