Aligned to opportunities that may open up in coming months: Sundaram Finance

CHENNAI: Non-banking finance company Sundaram Finance is aligned for opportunities that may arise in coming months in the backdrop of COVID-19 pandemic, its Managing Director T T Srinivasaraghavan said on Wednesday.
"Some business models of our customers could undergo changes which could open up new hitherto unknown opportunities. Given the heightened uncertainty (due to lockdown) we are aligned to opportunities that may open up in coming months", he said.

He was replying to a query from a shareholder during the company's 67th annual general meeting here about opportunities that are available in the current scenario.

Noting that the company was constantly scanning for new openings that might arise, he said there may be opportunities to acquire portfolios of non-banking finance companies which were in need of funding. "Those possibilities we are tracking", he said.

On the growth prospects for the company, he said, the emphasis would be on 'prudence' and maintaining asset quality. "We will look for growth opportunities that do not compromise the profitability of the company", he said.

Earlier, company chairman S Viji said the infrastructure sector could offer a big opportunity. "Budgetary allocations for this sector are significant and if the projects get underway, they could provide a boost to commercial vehicle sales", he said.

On the revival in the passenger cars segment, he said with social distancing norms, personal transportation could see a surge especially in the entry level segments. "..it might provide a boost to car sales especially in the latter (second) half of the year", he said.