Chennai: Sundaram Home Finance (SHF), the wholly owned subsidiary of Sundaram Finance, is planning to expand its branch network in Andhra Pradesh in the emerging business (EB) segment this year.Currently, it has around 10 EB branches in the state and is now looking to double its branch network to 20 this year with most of the expansion set to take place in smaller towns, the company said in a statement here on Tuesday. Recently, it opened a branch in Chittoor.The company is planning to hire around 60 people in the state for the EB segment. “In the first year of our EB launch in Andhra Pradesh, we have seen consistent growth across all our branches. The Andhra Pradesh government has been focusing on industrial development in smaller towns in the state, and this augurs well for fresh employment that is likely to drive the housing growth. We believe there will be new growth opportunities in the affordable housing segment, and our planned expansion in the tier 2 and 3 towns (in Andhra Pradesh) reflects our desire to leverage these emerging opportunities in the EB segment,” said D Lakshminarayanan, MD, SHF.
