D Lakshminarayanan, MD, SUCARAM Home Finance | Photo credit: KSL
SUCARAM Home Finance is increasing its presence in Karnataka with a new branch in Tumkur in the main segment of domestic finance, pointing to disbursements of around ₹ 900 million rupees in the state this tax.
The opening of the Tumkur branch marks the second expansion of level 2 of the company in Karnataka, after the launch of its Belagavi branch in September last year. SUCARAM Home Finance Now operates 18 branches throughout the state, even in key level 2 cities such as MySore, Mangalore and Hubli, according to a statement.
“Tumkur is evolving as an industrial center under the industrial corridor of Chennai-bengaluru. Its growing MSME base and large industrial units presents a significant opportunity for us, participulate among wage and autonomous domestic finances.
Eyes at level 3 cities
The company also plans to deepen is the scope in level 3 cities in Karnataka during the next year, banking the increase in demand in emerging markets. “We believe that there are many opportunities in narrower cities in Karnataka for our main domestic finance business and we will seek to penetrate more the thesis markets around the next 12 months,” he added.
The company registered disbursements of ₹ 600 million rupees at the Karnataka Gate in the nine months ended on December 31, 2024, a 30 percent increase compared to the previous year.
Currently, Karnataka represents 10 percent of the company’s disbursements in the main segment of domestic finance, an action is expected to increase with continuous expansion in subpenetrated markets.
Posted on April 18, 2025