Sundaram BNP Paribas Home Finance on Saturday said Q4 benefits climbed just 4.28% to Rs 31.73 crore from a year ago crediting the not exactly stellar execution to the downturn in the land market.
For the entire year, the Chennai-based loan specialist’s benefit was up just 4.3% to Rs 153 crore from a year ago, as year-over-year income from operations fell 2.8% to Rs 927 crore. The house bank’s net NPA remained at 0.98%.
“We see great potential in the rustic portion and have ventured up our endeavors in this fragment. Likewise, we have been effectively seeking after purchasing arrangement of moderate lodging account organizations and will keep on focusing on the open doors in this portion,” said Srinivas Acharya, MD, Sundaram Home Finance, which plans to raise Rs 2,500 crore this year through a blend of subsidizing instruments. The organization’s altered stores crossed the Rs 1,000 crore check and remained at Rs 1,022 crore as of March 31, 2016.