PNN DigitalPNN Digital
    Facebook Twitter Instagram
    Saturday, July 19
    Trending
    • Workations, Bleisure & Bespoke Stays: How Vivanta Stays Is Tapping Into Travel’s Biggest Trends
    • Eco Recycling updates on expanded capacity of E-waste & Li-ion Batteries recycling
    • The New Beginnings: Abhyaas Edu Technologies and One Window Sign Strategic MoU to Empower Global Education Aspirants
    • Guru Purnima 2025 at Karauli Shankar Mahadev Dham: The Mahasankalp for Nature, Purnata and Global Welfare
    • Moksha Media Group Appointed Digital Communication Partner for BLR Airport’s Commercial Offerings
    • Swastika Castal Ltd, Known for High-Precision Aluminium Components, Opens IPO on 21st July 2025
    • Transforming Spaces, Enriching Lives: Sundeep Jagasia on Shree Krishna Group’ Urban Impact
    • Sathlokhar Synergys E&C Global Secures New Orders Worth ₹ 16 Cr
    Submit News
    PNN DigitalPNN Digital
    Subscribe
    • Home
    • News
    • Business
    • Entertainment
    • National
    • Lifestyle
    • More
      • Sports
      • Health
      • Finance
      • Education
    PNN DigitalPNN Digital
    Home»Business

    Star Housing Finance Limited Carries Forward The Growth Momentum Into FY’ 2023-24

    Vishal JasaniVishal JasaniUpdated:18/07/2023 Business 4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Reports Q1 Results: 134% y-o-y Increase In AUM, 99% y-o-y Increase In Income, 122% y-o-y Increase In PAT, Appoints CEO And COO To Drive Innovation And Growth

    Mumbai (Maharashtra) [India], July 18: Star Housing Finance Limited (Star HFL), a BSE listed (BSE Scrip code BOM: 539017), professionally run rural focused retail home finance company has continued its growth journey in FY’2023-24 which is reflected in the financial results for the first quarter ending June 30, 2023

    During the quarter, Star HFL has reported strong traction in business backed by a liability franchise that continues to compliment the asset growth. The asset quality parameters have also improved during the quarter as the existing book gets seasoned and new book gets build up.

    The overall performance has given credence to look forward to achieve the yearly business and operational milestones set by the Company at the beginning of the financial year

    Performance Highlights:

    AUM and Top Line Numbers: AUM as of June 30, 2023 increased 134% y-o-y to Rs. 271.62 crs. Total income grew 99% y-o-y for the quarter. The Company disbursed Rs.34.67 crs during the quarter registering y-o-y growth of 26%

    Bottom line Growth: PBT and PAT registered 121% and 122% y-o-y growth respectively during the quarter

    Leadership Team Strengthened: With an objective to strengthen the senior management, Star HFL board has recently appointed senior professionals within the Company Mr. Kalpesh Dave as CEO and Mr. Anoop Saxena as COO. These professionals, along with MD Mr. Ashish Jain and CFO Mr. Natesh Narayanan are now leading Star HFL’s growth phase

    ESOP II scheme introduced: Star HFL board has approved the ESOP II scheme for eligible employees. The scheme, subject to shareholders’ approval and related clearances is in continuance with the philosophy of Star HFL being employee owned and managed company through its journey

    Liability Compliments Growth: Star HFL continues to develop strong funding pipeline through engagement with Banks, Financial Institutions, Social impact fund and the NHB

    Credit Rating Revised: Taking into account the business growth and asset quality displayed in the last financial year, India Ratings has upgraded Star HFL’s bank loan facilities to IND BBB/Stable

    Asset Quality Continues to Improve: As of June 30, 2023,PAR (0+ days past due) has reduced to 4.82%, of which GNPA as of June 30, 2023 stands at 1.56%. NNPA as of June 30, 2023 stands at 1.13%.

    Speaking on the performance CEO Mr. Kalpesh Dave said, “We have been able to start the financial year on a positive note across operational areas. 150+ member team is geared up to continue 100%+ y-o-y growth momentum that was exhibited in FY’2022-23. We are happy to have received rating upgrade which will further bolster our liability franchise. We continue to establish physical presence in our areas of operations enabling the branch network to build business traction and AUM growth. Our asset quality parameters continue to improve and this shall always take precedence in our day to day operations. I feel we are well poised to achieve Rs. 500 crs AUM milestone over the next few quarters.”

    Speaking on the performance of the Company, Mr. Ashish Jain, MD of Star HFL said, “Star HFL is at an inflection point and we have structured our growth backed by solid risk framework. The day to day operations are driven by defined policies, processes and guidelines. Finally, we are governed by a strong and independent board. We as a team are confident to achieve our business and operation milestones. Exciting times are ahead for us and we look forward to exhibit quality growth in this phase of our journey.”

    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 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 has its Registered & Corporate Office in Mumbai, Maharashtra.

    If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.

    Vishal Jasani

    Keep Reading

    Workations, Bleisure & Bespoke Stays: How Vivanta Stays Is Tapping Into Travel’s Biggest Trends

    Eco Recycling updates on expanded capacity of E-waste & Li-ion Batteries recycling

    The New Beginnings: Abhyaas Edu Technologies and One Window Sign Strategic MoU to Empower Global Education Aspirants

    Guru Purnima 2025 at Karauli Shankar Mahadev Dham: The Mahasankalp for Nature, Purnata and Global Welfare

    Moksha Media Group Appointed Digital Communication Partner for BLR Airport’s Commercial Offerings

    Swastika Castal Ltd, Known for High-Precision Aluminium Components, Opens IPO on 21st July 2025

    Recent Posts
    • Workations, Bleisure & Bespoke Stays: How Vivanta Stays Is Tapping Into Travel’s Biggest Trends
    • Eco Recycling updates on expanded capacity of E-waste & Li-ion Batteries recycling
    • The New Beginnings: Abhyaas Edu Technologies and One Window Sign Strategic MoU to Empower Global Education Aspirants
    • Guru Purnima 2025 at Karauli Shankar Mahadev Dham: The Mahasankalp for Nature, Purnata and Global Welfare
    • Moksha Media Group Appointed Digital Communication Partner for BLR Airport’s Commercial Offerings

    Workations, Bleisure & Bespoke Stays: How Vivanta Stays Is Tapping Into Travel’s Biggest Trends

    18/07/2025

    Eco Recycling updates on expanded capacity of E-waste & Li-ion Batteries recycling

    18/07/2025

    The New Beginnings: Abhyaas Edu Technologies and One Window Sign Strategic MoU to Empower Global Education Aspirants

    18/07/2025

    Guru Purnima 2025 at Karauli Shankar Mahadev Dham: The Mahasankalp for Nature, Purnata and Global Welfare

    18/07/2025

    Moksha Media Group Appointed Digital Communication Partner for BLR Airport’s Commercial Offerings

    18/07/2025

    Swastika Castal Ltd, Known for High-Precision Aluminium Components, Opens IPO on 21st July 2025

    18/07/2025
    Facebook Instagram Twitter
    • Legal Disclaimer
    • Privacy Policy
    • Contact Us
    • About Us
    © 2025 PNN Digital. Designed by Primex Media Services.

    Type above and press Enter to search. Press Esc to cancel.