Sundaram BNP Paribas Home Finance Q4 net up 159.8%

For the whole financial year ending March 31,2011,Sundaram BNP Paribas reported net profits at Rs 47.68 per cent,an increase of 72 per cent over the corresponding period a year ago. It had recorded a net profit of Rs 27.72 crore in 2009-10.

The company has declared a dividend of 15 per cent. “It has been a year of high profitable growth for us. We expanded and strengthened our presence across the Southern market,increasing our market share especially in Tier II and III towns in each of these markets.” Sundaram BNP Paribas Home Finance Managing Director Srinivas Acharya said.

On its outlook for this year,Acharya said “Our expansion plans are well geared to further increase our market share in this region. During the year,we also expect to expand our footprint outside the South market and are hoping to make inroads into a couple of new geographies”.

During the financial year ending March 2011,the company opened new branches in Andhra Pradesh,Karnataka and Keralataking the total branches to over 50. The company has also got funding sanction of Rs 250 crore from National Housing Bank during the year,it said.