Star Housing Finance Limited crosses Rs100cr loan book milestone

The deployment of core lending solutions aided with mobility has aided in the growth of business resulting in loan bookcrossing Rs.100 crs mark.

Sep 28, 2021 04:09 IST India Infoline News Service

Star Housing Finance Limited (Star HFL), (STARHFL | 539017 | INE526R01010), a BSE listed housing finance company operating in the affordable housing finance space has achieved a milestone of Rs.100 crs loan book in the current financial year. Star HFL has been operational in rural areas of south Rajasthan for a decade providing low ticket housing finance assistance to first-time homebuyers in the EWS segment.

The Company has been on a transformation journey post receiving its first institutional funding in October 2019. The transformation has resulted in the geographical expansion where the company now has 7 branches and 15 digital PoPs across the states of Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, and Tamil Nadu, with a staff strength of 90 employees. The deployment of core lending solutions aided with mobility has aided in the growth of business resulting in loan bookcrossing Rs.100 crs mark.

Mr. Ashish Jain, MD of Star HFL said,“Rs.100 crs loan book is the first landmark we as a team had resolved to achieve at the outset of our transformation journey. We do feel that this is just the beginning, and our aspirations of becoming an affordable housing finance company with a pan India presence will take us through many more milestones in times to come. While we look forward to growing, our philosophy of exclusive retail focus and providing housing finance assistance to home buyers in the EWS segment with emphasis on build-up of quality book remains the same.”

“Reverse migration of population from urban to semi-urban/rural locations has increased housing demand in these locations that include repair/renovation of existing dwelling (roof, ceiling, toilet, etc.), the addition of space (extra room, the floor on the self-constructed unit, etc.), and construction on an existing piece of land.  Star HFL, under its rich understanding in retail residential rural housing space, has been working to cater to such requirements through its offerings” he added.

Star HFL has expanded its liability franchise with credit lines from the NHB, the SBI (under TLRO scheme), and the Union Bank of India which aided in business growth and enable achieve Rs.100 crs loan book milestone. Mr. Ashish Jain concluded that Star HFL would work towards becoming a systematic Important HFC as the next milestone and retain exclusive focus on retail residential housing loans going ahead

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