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Chennai, Apr 2(): Leading non-banking financecompany Sundaram Finance Ltd has appointed D Lakshminarayananas the managing director of its subsidiary Sundaram HomeFinance.Lakshminarayanan succeeds Srinivas Acharya, who hadbeen the managing director since 2010 and was part of SundaramFinance Group for almost four decades, a press release said.Lakshminarayanan has been associated with SundaramFinance Group for over a decade.In the financial year 2019, Sundaram Home Financereported total income of Rs 1,006.27 crore and a net profit ofRs 145.48 crore.It has 115 branches across the country. VIJ SS

Lakshminarayanan is MD Sundaram Home Finance

Chennai, Apr 2 (): Chennai-based the SundaramFinance Group on Thursday said along with its associatecompanies it has contributed Rs 20 crore to the PrimeMinister's CARES Fund and to Tamil Nadu Chief Minister PublicRelief Fund.The Sundaram Finance group comprises Sundaram Finance,Home Finance, Royal Sundaram and Sundaram Mutual.Its associate companies (of the TVS Group) includeBrakes India, Wheels India, Turbo Energy, Axles India andImpal and have contributed Rs 20 crore towards COVID19 relief,a press release said.The amount is equally distributed between PM CARESFund and Tamil Nadu Chief Minister's Public Relief Fund.VIJ SS

Sundaram Finance Group, associate companies contribute Rs 20 cr to Covid-19 fund

With the promoters of two <keyword id="100080" type="General" weightage="20" keywordseo="housing-finance" source="Orion">housing finance</keyword> companies exiting the business, is there a shake out happening in the sector? The two exits -- small and the big ones -- were announced in quick succession. The Pune-based <keyword id="25607" type="General" weightage="80" keywordseo="poonawalla" source="Orion">Poonawalla</keyword> Fincorp Ltd announced the proposed sale of its stakes in the housing finance subsidiary Poonawalla Housing Finance Limited (formerly Magma Housing Finance Limited) to Perseus SG Pte. Ltd affiliated to TPG Global LLC for Rs 3,900 crore. A couple of days earlier, <keyword id="59288" type="General" weightage="80" keywordseo="centrum" source="Orion">Centrum</keyword> Housing Finance Ltd announced the binding agreement to acquire the housing finance business of <keyword id="15799445" type="General" weightage="80" keywordseo="national-trust-housing" source="Orion">National Trust Housing</keyword> Finance Limited for an undisclosed price. An affordable housing finance company National Trust Housing has a loan book size of over Rs.300 crore and is present in 17 locations in four southern states. As per the agreement, Centrum Housing will acquire the housing finance business including the loan portfolio, branches and employees. However, industry players and experts told IANS that the two exists doesn't mean a shake out or consolidation happening in the housing finance sector but shows the potential and interests of players. If a private equity major like TPG is investing in the housing finance sector, it shows the growth potential, industry experts told IANS. In February 2020, a fund managed by Morgan Stanley PE Asia, invested approximately Rs 190 crore to acquire a minority stake in Centrum Housing Finance. On the exit of Poonawalla Fincorp, Sanjay Agarwal, Senior Director, CARE Ratings told IANS: "They probably want to focus on consumer finance. Housing finance is a long term business and different from consumer finance." According to Agarwal, the sale and purchase of two housing finance companies shows a lot of interest in the market and is positive for the sellers and buyers. He said the credit loss for housing finance companies is very low but needs lots of capital. "The timing of the sale by Poonawalla is good as the market is picking up. I will not say consolidation is happening in the sector," a top official of a housing finance company told IANS on the condition of anonymity. As regards to the Centrum group's acquisition of National Trust Housing, an industry official told IANS: "The buy gives Centrum a jump start in the Southern market. It would have taken them about two years to establish a similar presence." The acquisition of National Trust Housing consolidates Centrum Housing presence in South India, and will help to further increase the penetration across the chosen geographies, Jaspal Bindra, Executive Chairman, Centrum Group said. "The market is growing and the pie is large enough for all to grow. There are opportunities for all the players -- big and small. This is driven by the need for housing and the Government's thrust on Housing for All. There is a fair degree of growth potential in the next few years," Lakshminarayanan Duraiswamy, Managing Director, <keyword id="680422" type="General" weightage="80" keywordseo="sundaram-home-finance" source="Orion">Sundaram Home Finance</keyword> Ltd told IANS. Big banks and housing finance companies are coming into small towns and this in turn makes smaller players like us to explore opportunities in Tier 3 and 4 towns, Duraiswamy added. "We registered disbursements of Rs 2,350 crore last year. In the first half of this year the disbursement figure is close to Rs 1,800 crore. Our target is to grow this year by 40 per cent-50 per cent and are on track to achieve this target driven by growth from Tier 2 and 3 markets. The smaller towns are growing faster for us and the self-employed segment is growing faster than the salaried class," he said. The housing finance companies like Sundaram Home Finance, Aptus Value Housing Finance India Ltd have also diversified their business by getting into financing small businesses which gives them higher spread. Typically, housing finance companies follow a monoline business model with focus on home loans and loan against property (LAP), Duraiswamy said. Sundaram Home Finance's entry into small business loans against mortgage of residential property is a diversification to a new segment of borrowers and an entry into Tier 3 and 4 towns, Duraiswamy said. According to him, by the end of this year, the small business loan book will be about Rs 15 crore and by the end next fiscal it will be about Rs 150 crore. "In the long term, we hope to take the contribution from this segment to about 10 per cent of our overall disbursements," Duraiswamy said. Sundaram Home Finance is also planning to expand its distribution network for home loans by opening around 15 new branches in Tier 2 and 3 towns in Tamil Nadu, Karnataka and Andhra Pradesh by March 2023. Be that as it may, although the banks continued to dominate and accounted for 63 per cent of the overall housing finance portfolio, housing finance companies outshone in FY22, said CARE Ratings in a research report. After reporting modest growth for two consecutive years, housing finance companies reported a double-digit growth rate in FY22 at 11 per cent y-o-y, surpassing the 7 per cent growth rate reported by the banks, CARE Ratings said. "Consequently, the share of HFCs, which has been contracting for th e past two consecutive years, improved in FY22 from 36 per cent to 37 per cent. Improvement in the macroeconomic environment, low-interest rate regime, and initial signs of recovery witnessed in the real estate sector were the key catalysts for the high growth," CARE Ratings report notes. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-to-outpace-world-average-growth-in-2023-can-it-duck-global-headwinds/articleshow/96256621.cms">Indian economy to outpace world average growth in 2023 – Can it duck global headwinds?</a> <a href="https://www.businessinsider.in/business/startups/news/how-many-startups-turned-unicorns-in-2022-in-india-check-out-the-list/articleshow/96248261.cms">New Indian unicorns get rarer in 2022 as funding winter sets in</a>

Two promoter exits - shakeout in housing finance sector?

To some readers, the title of this article might ring a bell. I accept I have stolen this idea from one of the greatest investors of our times – <keyword id="6358963" type="PERSON" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>. In 1951, he had written a marvellous article on <keyword id="2438456" type="UNKNOWN" weightage="100" keywordseo="Government-Employees-Insurance-Company">Government Employees’ Insurance Company</keyword> – GEICO. He liked the security so dearly that later on, he decided to buy majority stake in the same. 
 
The wisdom in the stock market says never fall in love with a stock. The simple reason being they cannot love you back! Over the past few weeks, I have been researching about a company with which I seem to have fallen in love with – contrary to the stock market wisdom. 
 The company which I am in love with is <keyword id="169197" type="COMPANY" weightage="100" keywordseo="Sundaram-Finance">Sundaram Finance</keyword>. The company was founded by late Santhanam in 1954. It is one of the largest NBFCs (non-banking financial corporation), having a pan-India presence with 583 branches. It has interests in various fields, ranging from hire purchase business and equipment leasing to housing finance. The subsidiaries include a home finance joint venture with BNP Paribas, an asset management company and several other businesses. It has a joint venture named Royal Sundaram Alliance Insurance Company, which is growing faster than the industry average. 
 
One of the important things to take note while buying a security is the management. Sundaram’s management has a tremendous track record in terms of growth, dividend payout, corporate governance and all other aspects a shareholder can think of. From 1954 till date, there had not been a single year it did not pay dividend. This shows the attitude of the promoters – if one cannot deploy excess cash in profitable ventures, better to return the same to the shareholders. In fact, the compounded annual growth rate (CAGR) of the dividend being paid out (in absolute terms) has been a staggering 19.8% over the past 9 years. Plus, the company issues bonus shares quite frequently. Another way to gauge the quality of management is said to be equity dilution. The management has never diluted its equity stake holding since the IPO in 1972. 
 
To make things easier for readers, it is prudent to quantify things. The top line of the standalone business has growth at 15.4% over the past 5 years. However, the consolidated business has grown at a CAGR close to 19%. The cost of finance and administrative cost have been increasing at 17% though, when seen as a percentage of the top line (excluding other income). It has been decreasing at a CAGR of 1.5%. The PAT, on a standalone basis, has been growing at 28%, and not many companies have been able to do the same during the past 5 years. The pre-tax earnings margins have been consistently increasing from 20% to almost 30% over the past 5 years. 
 
Also, financing is not about how aggressively one lends but how carefully one lends. The company continues to have superior asset quality with gross NPA (non-performing assets) and net NPA of 1.23% and 0.45%, respectively. In fact, its average net NPA for the past 5 years is 0.4%. The net interest margin (NIM) has been improving constantly without a deterioration of asset quality, which is quite remarkable. Over the years, the firm has been tapping cheap finance (reduces cost of funds), through issue of commercial paper, instead of term financing or bank finance. 
 
 
 
One often finds it difficult to put a value on the subsidiary companies. Sundaram BNP Paribas Home Finance Ltd is a subsidiary and has been growing at a phenomenal rate. It has outstanding loans of Rs 7,112 crore, which is on par with Gruh Finance (a subsidiary of HDFC Ltd) that has outstanding loan book of Rs 7,009 crore. Gruh’s NPAs are also comparable since Sundaram BNP has gross and net NPAs of 1.53% and 0.46%, respectively, while Gruh Finance has gross and net NPAs of 0.27% and 0%, respectively. The earnings of both the companies go neck and neck. Since Gruh Finance is trading at a market capitalisation of Rs 7,500 crore approximately, one can put a similar value to Sundaram’s housing finance subsidiary. Since the parent company has 50% holding in the subsidiary, one can put an approximate value of Rs 3,000 crore for this subsidiary. The stupendous valuation of the subsidiary is not being valued by the market – this is one of the compelling reasons to own this company. 
 
 
 
Another piece of wisdom which I have received is – you either get good news or good equity prices, you rarely get both of them together. With all the talk of a revival in the Indian economy, good news has been pouring in. Hence prices of securities, in general, have gone up – with a market capitalisation of Rs 10,000 crore. It is definitely not the cheapest stock around at a multiple of more than 3x in terms of book value, close to 17x price-earnings ratio, market capitalisation to sales of 2.4x. With all the given parameters, the stock does not look cheap. However, as Charlie Munger taught Warren Buffett, it is sensible to pay up for quality when the duo bought See’s Candy in 1972. 
 
Everything in life has risks attached to it and it more so in equity markets. One of the main risks involves the market not valuing the subsidiary companies appropriately – that’s why we see a lot of companies demerge their subsidiaries. The asset quality might deteriorate, which will impact the overall company. As one of my friends very rightly mentioned, all PSU banks look cheap on the valuation front till they announce their NPA figures. Moreover, the success and earnings growth of a company largely depend on the overall economy. Hence, a significant slowdown in the Indian economy will have an impact on the earnings of the company. 
 
Overall, Sundaram Finance is a business which, I understand, has a good economic moat, is run by an able and competent management and most importantly, is available at a sensible price tag. However, let me caution the readers – Rome was not built in a day and so aren’t great companies. Hence, one should stay invested in the company for the long term in order to reap the benefits. 
 
Disclaimer: Author is a shareholder of Sundaram Finance Ltd.

The Security I Like Best

CHENNAI: Home buyers are not postponing their decision to a buy a home any more, if numbers released for the first quarter by home financiers are any indication. 
 Mortgage major HDFC has witnessed 23% growth in its retail <keyword id="6354730" type="UNKNOWN" weightage="20" keywordseo="Home-loan">home loan</keyword> book during the first quarter of the %fiscal over the same period last year. "The company's growth is quite wide-spread. The demand fundamentals in the Indian <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> are now focused around cities that have sufficient economic activity, be it industrial- or service sector-driven," Renu Sud Karnad, managing director, HDFC said. Buoyed by the response, HDFC is pushing home loan offerings by sending mailers to customers to build their dream home. The communication states loan approval even before a property is selected, flexible loan repayment options, loans from any office for purchase of home anywhere in India and counselling services prior to property acquisition. 
 Similarly, Sundaram BNP Paribas Home <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> has seen 15% growth in its home loan book during the first quarter of 2014-15 to Rs 4,413 crore as against Rs 3,847 crore during the same period last year. 
 
"The growth has primarily come from Karnataka and other non-south branches," Srinivas Acharya, MD, Sundaram BNP Paribas Home Finance, said. 
 Going forward, financiers say the real game changer and growth in the home loan book would be affordable housing segment with the push already coming in the Union Budget. Among other things, the <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">finance minister</keyword> announced an allocation of over Rs 7,000 crore towards the development of 100 smart cities, concessions on housing loans and increase in allocation under rural housing. 
 Against this backdrop, financiers are anticipating 20% growth in the home loans business this year over the last fiscal. "We expect the real push to come from loans under Rs 15 lakh. The main borrowers of sub-Rs 15 lakh are the LIG (low income group) and the EWS (economically weaker section) of the society," Deo Shankar Tripathi, president and CEO, DHFL (Dewan <keyword id="100080" type="ORGANIZATION" weightage="20" keywordseo="housing-finance">Housing Finance</keyword>), said. Around 58% of the loans disbursed by the company during last fiscal was Rs 15 lakh and under. DHFL's home loan book grew 22% during the first quarter to Rs 42,800 crore as against Rs 35,100 crore. The company has opened 105 branches in the last four months. 
 
Financiers also say that the government is pushing a credit guarantee fund scheme (a sovereign guarantee for loans of up to Rs 5 lakh, mainly targeting the low income group). "Though launched by the previous government, the new government is pushing this scheme. Senior officials from urban housing and poverty alleviation department have already had two rounds of meeting with home finance companies. The discussions revolved on creating small units with low cost technology in the peripheral areas of big cities," said a financier who did not wish to be identified. 
 Karnad said, "In the mid and smaller size cities, there is availability of vast land resources at lower cost. Improving demand from residents, increasing <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">investments</keyword> from NRIs, expatriates and individuals working in metros and growth in employment opportunities are the prime reasons. In some of these cities, the price has appreciated more than 10% in the past two to three years. However, they are still affordable for industrial workforce as compared to metros." 
 Also, with the Budget providing an <keyword id="6354751" type="COMPANY" weightage="20" keywordseo="Income-Tax">income tax</keyword> benefit by raising deduction against interest payment on home loan from the taxable income by Rs 50,000 to Rs 2 lakh from Rs 1.5 lakh earlier, this is expected to propel demand from the middle class for homes in Tier II and III locations. 
 Additionally, an increase in basic tax slab from Rs 2 lakh to Rs 2.5 lakh will increase the disposable income of an individual in that slab. "All these tax concessions will lead to considerable <keyword id="25450" type="UNKNOWN" weightage="20" keywordseo="savings">savings</keyword> and therefore increase in one's disposable income which will lead to enhanced loan eligibility," Karnad said.

Home Loans Grow Up To 23% In Q1

<ul><li>The top <keyword id="8153180" type="UNKNOWN" weightage="20" keywordseo="5-richest-families-in-India">5 richest families in India</keyword> hold a combined wealth of ₹9,22,600 crore crore. </li><li>The list includes Ambani who have ₹3,80,700 crore, Godrejs who have ₹1,57,000 crore and Hindujas who control ₹1,86,500 crore; occupy the top three positions. </li><li>According to the Hurun Research Institute, the top 10 <keyword id="6908858" type="UNKNOWN" weightage="20" keywordseo="richest-families-in-india">richest families in India</keyword> control more than half the country's businesses. </li></ul>The top ten richest families in India have a combined wealth of a massive ₹9,22,600 crore. And, they are not shy of showing it. According to Hurun Research Institute, the top 10 richest families in India control more than half the country's businesses. From the Ambani's family whose ₹3,80,700 crore comes from Reliance Industries; to Wadias who control a textiles-to-airlines group, here's a rundown of 10 wealthiest families in India. <keyword id="881409" type="PERSON" weightage="20" keywordseo="Ambani-family">Ambani Family</keyword> and their splendid lifestyle <div type="image" title="Mumbai: Industrialist Mukesh Ambani and wife Nita Ambani at the book launch of t..." msid="71323910" hostid="261" caption="Industrialist Mukesh Ambani and wife Nita Ambani at the book launch of the book &amp;#39;A Journey Forever&amp;#39; Authored Vijay Haribhakti (3rd from L) in Mumbai.Photo/Mitesh Bhuvad)("></div>
NetWorth: ₹3,80,700 crore Source of Income: Reliance Industries 
 Mukesh Ambani, his wife Nita, and their three children – Akash, Isha, Anant – make up India's richest family, whose wealth is at ₹3,80,700 crore. The whole country is in awe of them not just because of the wealth, but their glimmering lifestyle. The twins Akash and Isha’s weddings captured national and international attention. Not only did all of Bollywood dance to it, international popstar Beyonce's too performed at one of the functions. 
 <div type="image" title="f45f6e4737b8a785c52178517959b8ea" msid="71324114" hostid="261"></div>

 The Ambanis also reside at one of the world's most expensive homes Antilia — the 27-storey skyscraper in Mumbai that allegedly costs a billion dollars. Mukesh Ambani, chairman of Reliance Industries, was named richest person in India in the Hurun rich list for the 8th time in a row. His wealth is more than the combined wealth of country’s second and third richest who are --SP Hinduja family and Azim Premji, respectively. The <keyword id="2349569" type="PERSON" weightage="20" keywordseo="Godrej-family">Godrej family</keyword> is made of old money and new <div type="image" title="a33b9cac8ff8e00ea7d73291ba4100cd" msid="71324115" hostid="261"></div>
Networth: ₹1,57,000 crore Source of Income: Godrej Group The Mumbai-based Godrej family built its fortune from multiple businesses with interests across consumer goods, real estate, white goods and more. The patriarch of the family is Adi Godrej, the 77-year-old Indian billionaire with a net worth of US$2.9 billion. The 122-year-old conglomerate r<a href="https://www.livemint.com/companies/news/godrej-family-locked-in-a-dispute-over-land-seeks-external-advice-1561659296389.html">ecently ran into disputes over a vast land they hold in Mumbai</a>. The family sought external help to resolve the dispute. The Hindujas 
 <div type="image" title="Capture1" tempid="18690" msid="71324281" hostid="261"></div>

 Networth: ₹1,86,500 crore Source of Income: The <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword> The Hinduja family has four siblings — Srichand, Gopichand, Prakash and Ashok. They run London-based conglomerate, the Hinduja group, which generates an annual revenue of $50 billion. P D Hinduja founded a merchant bank and trading company in 1914. Now, its trading operations are spread across every commodity except tobacco, alcohol and meat. It also expanded to many sectors including energy, foundries and more. The group is the fourth largest bus manufacturer in the world. In two decades, the Hinduja brothers increased their networth by 1,590%, from $1 billion in 1999 to $16.9 billion in 2019, <a href="https://www.forbes.com/profile/hinduja/#62a154084482">according to Forbes. </a> The Hinduja brothers are also one of the wealthiest in the UK. <a href="https://www.google.com/search?hl=en&amp;ei=QouNXZnaI4y89QOPxLGQDw&amp;q=Hidujas+asian+rich+list&amp;oq=Hidujas+asian+rich+list&amp;gs_l=psy-ab.3..33i21j33i160l2.87196.89511..89548...0.2..1.418.1880.2-2j3j1......0....1..gws-wiz.......0i71.58yxa5aXmYM&amp;ved=0ahUKEwiZg8PRkPDkAhUMXn0KHQ9iDPIQ4dUDCAs&amp;uact=5">The family’s net worth saw an increase of over three billion pounds in one year</a>, reported the Asian Rich List that positioned the family number one. They live in august company as their Carlton House Terrace mansion is close to Buckingham Palace in London. Adanis are in shipshape 
 <div type="image" title="18500316" tempid="18714" msid="71324282" hostid="261"></div>

 Networth: ₹120,900 crore Source of Income: The Adani Group Adanis family consists of billionaire <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, his seven siblings and their families, is probably the largest family in the list. Their fortune is worth ₹120,900 crore, and the group owns India’s largest private port in Gujarat. The Adani group interests span across logistics, energy, agriculture, defense, and aerospace. In 25 years, Adani built one of India's largest infrastructure companies worth ₹4,700 crore. Adani group’s six companies — had a turnover ₹77,000 crore with ₹20,141 crore as operating profit in 2017-18. The Damanis of Dalal Street 
 <div type="image" title="Capture2" msid="71324340" hostid="261"></div>

 Networth: ₹77,500 crore Famous investor Radhakishan Damani along with his wife, daughter and brother form the country’s fifth richest family. They own the popular retail store D-Mart, is the primary source of the family’s vast income. Damani is a famous investor whose wealth doubled after a stellar listing of the retail chain on the stock exchanges in 2017. His daughter Manjri Chandak is a director at D-Mart. Radhakishan Damani who is often called the ‘Warren Buffet of India’, was also a mentor to ace investor, <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>. The family has holdings in VST Industries, Sundaram Finance, India Cements, and Blue Dart. The family also owns the Radisson Blu resort at Alibaug, near Mumbai.

Here are the 5 richest families in India — who together hold a fortune of ₹9,22,600 crore

Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider <a href="https://www.businessinsider.com/subscription/prime?utm_source=Google&amp;utm_medium=CPC&amp;utm_campaign=SEM_Branded&amp;utm_term=PaidGoogleQ1&amp;utm_content=BusinessInsiderPrime&amp;source=google&amp;campaign=6522414196&amp;adgroup=78604872375&amp;keyword=businessinsider%20com&amp;tpcc={b.brand}&amp;gclid=EAIaIQobChMIl6eYoZvr6gIVB7LICh3qwAhFEAAYASAAEgLt6PD_BwEYoZvr6gIVB7LICh3qwAhFEAAYASAAEgLt6PD_BwE">here</a> to get this newsletter in your inbox every Sunday.Hello!The financial-services industry is changing at a rapid clip, with <a href="https://www.businessinsider.com/fintech-early-stage-consumer-finance-investors-2020-7">fintechs addressing people's needs among the big winners in the wake of the coronavirus</a>, as Dan DeFrancesco and Shannen Balogh reported this week.For example: Robinhood, which has seen massive growth as market volatility continues, is now <a href="https://www.businessinsider.com/robinhood-raised-280-million-series-f-at-83-billion-valuation-2020-5">valued at $8.3 billion</a> after its most recent funding round in May. Meanwhile, other personal <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> apps like <a href="https://www.businessinsider.com/fintechs-see-record-account-openings-as-stimulus-checks-hit-2020-4">Chime and Stash</a> have also seen record sign-up numbers recently. With that in mind, Dan and Shannen polled 27 investors to discover the fintechs that are on the cusp of breaking out. While investors could pitch companies both inside and out of their portfolio, the caveat was that none could have surpassed a Series B raise.The response was impressive, with 60 fintechs nominated. Overall, investors seem more bullish on the future of startups catering to businesses, not consumers, as more than 63% of the selections were B2B.You can read both lists here:<a href="https://www.businessinsider.com/fintech-b2b-early-stage-business-investors-finance-2020-7" target="_blank" rel="noopener">Investors say these 38 fintechs are the next generation of breakout B2B stars, following in the footsteps of Stripe and Plaid</a><a href="https://www.businessinsider.com/fintech-early-stage-consumer-finance-investors-2020-7" target="_blank" rel="noopener">22 fintechs that VCs and big investors say are on the brink of becoming household names</a>Speaking of <keyword id="2461546" type="PERSON" weightage="60" keywordseo="FinTech">fintech</keyword> investors, Megan Hernbroth profiled 25 young investors in the space, highlighting what drew them to fintech and what they think are the biggest opportunities. The investors also shared some tips on how to snag a role in their competitive field. You can read both stories here:<a href="https://www.businessinsider.com/meet-25-investors-red-hot-fintech-industry-2020-7" target="_blank" rel="noopener">These 25 investors are hunting for the next big fintech unicorn. Here's what founders should know before pitching them.</a><a href="https://www.businessinsider.com/successful-young-fintech-investors-reveal-how-to-land-job-vc-2020-7" target="_blank" rel="noopener">The latest class of successful young fintech investors reveals how to land a job in the notoriously exclusive field</a><h2 dir="ltr"><keyword id="6354862" type="UNKNOWN" weightage="60" keywordseo="trump">Trump</keyword>'s most important 2016 donor is sitting out 2020</h2><div type="image" title="robert mercer" height="1804" width="2405" msid="77185316" hostid="261"></div>Dave Levinthal reports:Hedge fund billionaire Robert Mercer and his daughter Rebekah ranked among President Donald Trump's most influential backers in 2016. But they've all but abandoned the embattled president and aren't likely to help him in the home stretch for 2020, five people who know the media-averse Mercers tell Insider."They're 100, 100, 100% out," an associate of Rebekah Mercer said.You can read that story in full here:<a href="https://www.businessinsider.com/donald-trump-robert-mercer-rebekah-mercer-bannon-kellyanne-conway-election-2020-7">Trump's most important 2016 donor is sitting out 2020</a>In other politics news:<ul><li>Tom LoBianco had <a href="https://www.businessinsider.com/trumps-team-is-battling-cellphone-companies-over-campaign-spam-texts-2020-7">the inside story</a> on Jared Kushner's call to the <a href="https://www.businessinsider.com/trumps-team-is-battling-cellphone-companies-over-campaign-spam-texts-2020-7">CEOs of AT&amp;T, Verizon, &amp; T-Mobile after the Trump campaign was blocked from sending text messages to people who hadn't signed up for them</a>.</li><li>Dave reported that Republican Party officials <a href="https://www.businessinsider.com/rnc-purchase-face-masks-covid-coronavirus-trump-republicans-building-maintenance-2020-7">hid COVID-19 mask purchases by labeling them "building maintenance" in federal disclosures</a>.</li><li>And Elvina Nawaguna reported that <a href="https://www.businessinsider.com/january-2021-presidential-inauguration-washington-dc-trump-biden-covid-pandemic-2020-7">Presidential inaugurations are prime time for DC schmoozing</a>. But the coronavirus pandemic might <a href="https://www.businessinsider.com/january-2021-presidential-inauguration-washington-dc-trump-biden-covid-pandemic-2020-7">mean no fancy balls, parades or big swampy parties come January 2021</a>.</li></ul><h2>The transformation of the <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> business</h2><div type="image" title="empty office" height="4035" width="6046" msid="77185322" hostid="261"></div>We've written at length in recent months about <a href="https://www.businessinsider.com/how-offices-and-remote-work-will-be-transformed-by-coronavirus-2020-5">the future of the office,</a> as the coronavirus pandemic forces employers to rethink their needs and landlords to reimagine their model. This week:<ul><li>Dan Geiger reported that <a href="https://www.businessinsider.com/wework-office-vacancies-dock-72-other-locations-new-york-city-2020-7">20% of WeWork's New York space is sitting empty</a>. He took a look at <a href="https://www.businessinsider.com/wework-office-vacancies-dock-72-other-locations-new-york-city-2020-7">key vacancies the city's biggest office tenant is trying to fill</a>.</li><li>Alex Nicoll and Rebecca Ungarino reported that <a href="https://www.businessinsider.com/wall-street-real-estate-remote-work-wework-wells-fargo-citi-2020-7">Wells Fargo is ditching a 750-person WeWork space</a>, while Citi <a href="https://www.businessinsider.com/wall-street-real-estate-remote-work-wework-wells-fargo-citi-2020-7">inked a deal with the flex-office giant far from a big city</a>. They took a look at <a href="https://www.businessinsider.com/wall-street-real-estate-remote-work-wework-wells-fargo-citi-2020-7">how financial firms are retooling their real estate</a>.</li><li>Reed Alexander reported that while Wall Street is starting to return to the office, not everyone is heading back. He took a look at <a href="https://www.businessinsider.com/wall-street-work-from-home-future-banks-hedge-funds-2020-7">which finance jobs are the most likely to remain virtual</a>.</li></ul>In related news, the rapid shift to ecommerce that's been accelerated by COVID 19 is putting severe pressure on malls and placing fresh emphasis on warehouse space. <ul><li>Dan reported that Neiman Marcus' shocking exit from glitzy Hudson Yards <a href="https://www.businessinsider.com/neiman-marcus-hudson-yards-exit-cotenancy-tenants-pay-zero-rent-2020-7">strikes a huge blow to the $25 billion project</a>. The departure could unravel <a href="https://www.businessinsider.com/neiman-marcus-hudson-yards-exit-cotenancy-tenants-pay-zero-rent-2020-7">one of the most expensive mega-malls in US history</a>.</li><li>Meanwhile, the <a href="https://www.businessinsider.com/big-tenants-amazon-logistics-demand-cold-storage-spaces-grocery-delivery-2020-7">$98 billion cold-storage sector is at a tipping point</a>, per Dan and Alex. Investors <a href="https://www.businessinsider.com/big-tenants-amazon-logistics-demand-cold-storage-spaces-grocery-delivery-2020-7">are piling in as online grocery deliveries surge</a>.</li><li>And logistics startup Bond has teamed up with SoftBank-backed REEF Technology to <a href="https://www.businessinsider.com/bond-logistics-startup-warehouses-softbank-reef-ecommerce-parking-lots-2020-7">bring nano-warehouses to parking lots across the US</a>. Alex reported on how <a href="https://www.businessinsider.com/bond-logistics-startup-warehouses-softbank-reef-ecommerce-parking-lots-2020-7">they're building the distribution hubs of the future</a>.</li></ul>Separately, I want to highlight a couple of things before I go:<ul><li>We're seeking nominations for the 2020 edition of our annual list of Rising Stars of Wall Street. <a href="https://www.businessinsider.com/business-insider-seeking-nominations-rising-stars-of-wall-street-2020-7">Here's how to apply</a>.</li><li>We're speaking with YouTube and Instagram influencers with millions of followers about how they're adapting their businesses during the pandemic and earning 6-figure incomes. <a href="https://www.businessinsider.com/webinar-on-how-influencers-creators-make-money-in-coronavirus-pandemic-2020-7">Sign up for the digital live event on August 5 here</a>. </li></ul>Below are headlines on some of the stories you might have missed from the past week.— Matt<a href="https://www.businessinsider.com/profile-of-goldman-sachs-executive-ram-sundaram-2020-7">Inside the rise of Ram Sundaram, the leader of a secretive Goldman Sachs desk that's minting billions by designing some of the bank's most imaginative — and controversial — trades</a><a href="https://www.businessinsider.com/bain-bcg-and-mckinsey-base-salaries-how-much-consultants-make-2020-7">Top management-consulting salaries, revealed: How much Bain, BCG, and McKinsey consultants make, from entry level through partner roles</a><a href="https://www.businessinsider.com/stock-picks-to-buy-13-firms-with-huge-dividends-bernstein-2020-7">Bernstein says buy these 13 dividend-rich stocks built to capitalize on a trend not seen in 65 years</a><a href="https://www.businessinsider.com/venture-capitalists-pick-top-media-startups-to-watch-in-2020-7">19 media startups that top VCs say are poised to take off in 2020, as the pandemic reshapes the industry</a><a href="https://www.businessinsider.com/complex-networks-insiders-says-sales-team-whitewashed-ad-deals-2020-7">Insiders at Complex Networks said the company was built on Black culture but that the sales team 'whitewashed' advertising deals for brands, replacing Black people with white people in pitch decks</a><a href="https://www.businessinsider.com/google-trump-coronavirus-testing-verily-employees-stress-exhausting-conditions-2020-7">In March, Trump announced Google would build a coronavirus testing tool. Some employees working on it describe exhausting conditions, stress, and tears as they work around-the-clock to pull it off.</a><a href="https://www.businessinsider.com/leaked-documents-exxon-changed-performance-reviews-cut-workers-2020-7">Leaked documents reveal Exxon changed its employee-ranking system amid the coronavirus pandemic, putting more workers at risk of getting cut</a><a href="https://www.businessinsider.com/17-outstanding-women-in-sneaker-industry-include-nike-designers-execs-2020-7">POWER LIST: Here are the 18 most outstanding women transforming the sneaker industry today, from designers to influencers</a>

You Searched For "sundaram home finance" and got 7 results

Lakshminarayanan is MD Sundaram Home Finance

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