Star Housing Finance Ltd crosses Rs. 500 crores AUM

Star Housing Finance Limited (Star HFL), a retail-focused housing finance company specializing in low-ticket loans, has crossed Rs. 500 crs AUM. The company primarily operates in tier II and tier III towns, as well as semi-urban areas and has served more than 5000 families, with a focus on the Economically Weaker Section (EWS) / Low Income Group (LIG) segment.

This represents a significant milestone for the Company, aligning with the stated growth objectives. Star HFL has achieved this through its 30+ operational branches and staff of 250+ employees working across geographies and business functions. The occasion was celebrated across locations with zest and enthusiasm.

Star HFL team consists of HFC professionals with deep expertise in both domain and execution. The senior leadership team is supported by a strong and an independent Board comprising of reputed professionals from the BFSI space. The Company has scaled up staying true to its business philosophy of providing housing finance assistance to prospective first time home buyers within its target customer segment.

Commenting on the milestone, Mr. Kalpesh Dave, CEO of Star HFL said, "We are thrilled to become a Rs.500 crs AUM company. This milestone enhances our visibility in the stakeholder spectrum especially in debt market, equity market and rating engagement. What brings us even a greater satisfaction is the meaningful role we have played in fulfilling home owning aspirations for our deserving customers. This has been a team work and would not have been possible without the support of all stakeholders including the Reserve Bank of India, the National Housing Bank, our banking partners, our rating partners, our business associates, our valued customers and last but not the least our shareholders. As we embark on the next phase of our growth journey, we are excited and optimistic about our goal to serve over 10,000 homebuyers in the next 6 to 8 quarters."

Affordable Housing has seen renewed focus from the Government of India with a relaunch of PMAY through PMAY 2.0 as well as re starting the credit linked subsidy scheme. Moreover, recent budget announcements have established a strong framework assisting in facilitation of more than 3 crore houses across length and breadth of India including the outlay of more than Rs. 10 lakh crs. These announcements should add to the favorable macros in the housing space. Housing finance companies, particularly those focused on retail affordable housing space like Star HFL are well-positioned to benefit from these tailwinds and are well poised future growth.

Source : Equity Bulls

Keywords

StarHousingFinance LowTicketLoans Milestone INR500Crores AUM