The Bangalore-based Canfin Homes is targeting home loan sanctions of Rs 575 crore (Rs 5.75 billion) and disbursement of Rs 500 crore (Rs 5 billion) by March end this year.
"We plan to grow 30 per cent next fiscal over the current year," Canfin Homes managing director K Venkataramaiah said.
He said during fiscal year 2005-06, Canfin Homes would sanction home loan of Rs 700 crore (Rs 7 billion) and disburse amount of Rs 600 crore (Rs 6 billion), besides having a total outstanding of Rs 1,700 crore (Rs 17 billion).
Venkataramaiah said the firm plans to achieve a business of Rs 100 crore (Rs 1 billion) in 2005-06 from the three non-housing finance products - Venture for practising professionals, Networth for loans against mortgage of properties and N-Cash for loan against rent receivables.
"Yields on housing loans are coming down due to competition," he said, about the firm's decision to launch non-housing finance products.
Venkataramaiah said the focus cities for growth were Bangalore, Hyderabad and Chennai for the firm. The firm plans to open new branches next fiscal to take the total tally to 50.