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Tamil Nadu
HDFC opens branch in Tirupur
Staff Reporter
TIRUPUR: The leading housing finance company Housing Development Finance Corporation (HDFC) on Thursday inaugurated its 17th branch in the State in Tirupur.
Mathew Joseph, its Regional Manager for Tamil Nadu and Kerala, inaugurated the branch on Raja Rao Street here in the presence of Tirupur Exporters’ Association president A. Sakthivel.
Mr. Joseph said that the branch would cater to the needs of Kangeyam, Chennimalai, Palladam and Avanashi.
For the last seven years, the Coimbatore branch had been servicing these areas. Mr. Joseph said that though no limit have been set in extending advances, the expected business during the first year was Rs. 30 crore and it was expected to double the next fiscal.
Since 80 per cent of the loan goes to the salaried class, the focus would be on them, he said.
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