chennai sundaram home finance shf a wholly owned subsidiary of sundaram finance ltd has reported a 21 increase in net profit for quarter ended june 30 2023 at rs 574 crore when compared with the corresponding period of the previous year at rs 472 crore disbursements for the first quarter in fy24 was at rs 1103 crore a growth by 39 over the year ago quarter at rs 795 crore lakshminarayanan duraiswamy md shf said the growth in disbursements has been driven by our focus on expanding into remote towns in south india tier 2 and 3 towns are growing at a fast clip and we see this trend continuing over the last 12 months we have opened up branches in a number of new locations the company opened eight new branches during the first quarter of the year in tier 2 and 3 towns including in edappadi ilayampalli and tuticorin in the state it added