Star Housing Finance Ltd., (BSE: 539017) semi urban and rural focused home finance company has maintained its growth trajectory in the retail home finance space and has resultantly reported strong business and financial performance for the quarter ending on June 30, 2024. During the period Star HFL registered milestones across business areas for the quarter ending June 30, 2024 enlisted as below:
- Business Numbers: AUM increased 73.55 % y-o-y to Rs. 471.41 crs. The Company disbursed Rs. 61.23 crs in the quarter under review.
- Income Growth: Interest income grew by 61.43 % y-o-y on the back of strong traction in disbursements. Net Interest Margin (NIM) stands at 7.04 %
- Asset Quality Remains Intact: PAR (0+ days past due) stood at 3.38 %, of which GNPA stands at 1.57 % and NNPA stands at 1.12 % as of June 30, 2024
- Robust Profitability: Profit before Tax registered 87.98 % y-o-y growth
- Liability Scale Up: Star HFL has strong relationships with Banks and FIs to aid the loan book growth. Current borrowings stand at Rs. 335.35 crs through 6 Banks and 11 FIs. The liability pipeline is robust and is planned as per the business plan for the financial year
- Strong Capital Levels: Net-worth as of Jun 30, 2024 stands at Rs. 137.77 crs. Leverage levels remain modest at 2.43x
- ESOP II Approval: Continuing with the philosophy of employee ownership, Star HFL board has approved the
- ESOP II scheme for eligible employees. This is the second scheme implemented by the Company considering the expanded employee base and the contribution made by eligible employees to the growth of the Company
- Dividend payout: Star HFL has announced a 50% increase in dividend payout from 5p to now 7.5p, per share, subject to shareholder approval in the ensuing AGM
- Lending Suite Upgraded: Star HFL has completed deployment of core lending suite for end-to-end processing of home loan applications along with receivable management support
- Ratings: Star HFL is currently rated BBB / Stable by CARE and India Ratings.
Star Housing Finance Limited (Star HFL) is BSE listed rural focused housing finance company. The Company has been operational in the low-cost housing finance space since 2009. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, NCR and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidy for its qualified customers under CLSS scheme. Star HFL is headquartered in Mumbai, Maharashtra.
