REPORTS 62 % y-o-y INCREASE IN AUM, 66% y-o-y INCREASE IN INCOME, 78 % y-o-y INCREASE IN PBT
Star Housing Finance Limited (Star HFL), a BSE listed company (BSE: 539017) has maintained its growth trajectory in the retail home finance space and has resultantly reported robust business and financial performance for the period ending on Sep 30, 2024.
Business Numbers: AUM surpassed the milestone figure of Rs. 500 crore, reaching Rs. 517.84 crore, marking a 62% year-on- year increase.
Income Growth: Interest income grew by 60.56 % y-o-y on the back of strong traction in disbursements. Net Interest Margin (NIM) stands at 7.47 %
Strong Capital Levels: Net-worth as of Sep 30, 2024 stands at Rs. 140.23 crs. Leverage levels remain modest at 2.68x
Asset Quality Remains Intact: PAR (0+ days past due) stood at 3.68 %, of which GNPA stands at 1.56 % and NNPA stands at
1.09 % as of Sep 30, 2024
Robust Profitability: Profit before Tax registered 78.28 % y-o-y growth
In addition, Star HFL has successfully raised incremental liabilities totaling INR 70 crore from key institutional partners, bolstering its liquidity and enabling further loan book expansion. With a network of 250+ housing finance professionals, Star HFL remains committed to expanding its reach and solidifying its footprint in underserved regions across Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, NCR, and Tamil Nadu.
Operating & Financial Performance (In Crs) Q2-FY25 Q2-FY24 Y-o-Y Change
Assets Under Management 517.84 319.43 62.11%
GNPA (%) 1.56% 1.46% 0.10
NNPA (%) 1.09% 1.08% 0.01
PBT 3.94 2.21 78.28%
PAT 3.06 2.07 47.83%
Borrowing Outstanding 375.51 224.08 67.59%
Leverage(x) 2.68x 1.99x 0.69x
Interest Income 20.44 12.73 60.56%
Total Income 22.63 13.67 65.54%
Speaking on the performance for the period, Mr. Kalpesh Dave, Director & CEO of Star HFL said, ” Crossing the Rs. 500 crore AUM mark is a proud and pivotal moment for Star HFL. This milestone signifies not only our growth but also our commitment to creating meaningful impact through affordable housing finance. Star HFL’s performance this quarter exemplifies our dedication to sustainable growth and maintaining strong asset quality. Our strategic approach, backed by a dedicated team, has helped us deliver exceptional results in a competitive market. Moving forward, our focus will remain on building a well-capitalized and diversified liability base while expanding our branch network to meet the housing finance needs of underserved communities. We are confident that our approach will deliver strong returns over the coming quarters and create long-term value for all stakeholders.”
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 has its Registered & Corporate Office in Mumbai, Maharashtra.
