Shriram Housing to hire 350 employees in AP, TS

Hyderabad: SHRIRAM Housing Finance Ltd, a Mumbai-based company, plans to hire 350 employees in Andhra Pradesh and Telangana State (AP and TS) as part of its expansion plans in the region.

The company plans to enhance the distribution network for home loans by adding sales points across 178 branches of Shriram City in both Telugu States by end of 2021. Currently the company has 11 own branches in these States with Assets Under Managemet (AUM) of over Rs 500 crore.

The company will leverage the extensive branch network and customer base of its parent Shriram City to accelerate growth. The company plans to offer customised home loan solutions to the group company's customers via this initiative and further build on the housing for all initiatives of the government. The company has christened the initiative as 'GrihaPoorti', fullfilling the customers' aspirations of owning their home.

GrihaPoorti is in its initial phase in the AP and TS markets with over 50 branches in Telangana already activated. The company is targeting disbursements worth Rs 100 crore on a monthly basis from these States in the next 1 year. AUM of the company stood at Rs 4,000 crore, with 13 per cent currently as of August 2021 from these States.

With presence in 15 States with 84 branches as of Q1FY22, the housing finance company's disbursals to individuals in Andhra Pradesh stood at Rs 5,730 crore and Telangana at Rs 17,970 crore in FY20, showed an NHB report on trends andprogress.