Sundaram Home Finance has expanded its footprint in the affordable housing space with the launch of ‘Anugraha’, a brand aimed at providing housing finance solutions to lower and middle-income families in Tier II and III towns.

The company, a subsidiary of non-banking finance company Sundaram Finance Ltd, forayed into the affordable housing financing segment last year, under the ‘Emerging Business’ segment which includes offering small business loans.

‘Under the Anugraha brand, the company will offer affordable housing finance to aspiring homeowners in the lower to mid-income segment,” the company said in a statement.

Sundaram Home Finance Managing Director D Lakshminarayanan said, “We are bullish on affordable housing finance and see this as a fast-growing segment for the company. The ‘Anugraha Housing Finance for all’ product aligns with our focus to expand deep into Tier II and III towns.” Along with the small business loans, he said, the company expects affordable housing finance to be a solid growth driver in the coming years.

Sundaram Home Finance has over 50 branches in Tamil Nadu and Andhra Pradesh in the emerging business segment. It registered disbursements of over Rs 200 crore last financial year.