Chennai, April 30 (IANS): City-based Sundaram BNP Paribas Home Finance on Thursday said it would raise Rs.2,500 crore funds for business and also look at acquiring home loan portfolios of around Rs.100 crore during 2015-16.

The company is looking at garnering business of Rs. 100 crore from the rural housing segment this year.

In a statement issued here, the company also said that the National Housing Bank has sanctioned it a funding of Rs.1,000 crore.

According to Sundaram BNP Paribas Home Finance, the fresh fund raising will be through a mix of debt and deposits.

Last fiscal the company added around Rs.25 crore worth of loan portfolio by acquiring from other housing finance companies.

It closed last fiscal with a net profit of Rs.146.42 crore as compared to Rs.150.73 crore registered a year earlier.

Income from operations stood at Rs.954 crore for the year ended March 31, 2015 as compared to Rs.887 crore registered in the previous year.

Loans under management stood at Rs.7,486 crore as on March 31. Home loan disbursements for FY15 stood at Rs.1,939 crore as against Rs.2,493 crore registered in the previous year.

Net non-performing assets (NPA) stood at 0.75 percent as on March 31 as compared to 0.46 percent a year ago.

"It has been a prolonged slow down in the real estate space with a mismatch in expectation on the part of both the buyers and sellers and a pricing resistance across the country," said managing director Srinivas Acharya.

"The off take in the real estate space has been sluggish leading to a lot of unsold stock. In this slowdown phase, we have continued to focus on the quality of customers, a strategy that has helped us keep a tight hold on the NPAs at well below the one percent level," he added.