Star Housing Finance hits new 52-week high on Q1FY23 results; logs 474% yoy growth in PAT

12 Jul 2022 , 02:25 PM

Star Housing Finance Limited announced results for the quarter ended June 30, 2022, and has reported the highest-ever quarterly disbursements.

At around 2.18 PM, Star Housing’s counter was trading 8.10% higher at Rs153.55 against its previous close of Rs142.05 on BSE. It hit a new 52-week high of Rs159.30 so far in today’s trade.

The company has logged the highest quarterly disbursements of Rs22.56 crore during the quarter. Expansion across operational geographies in the form of physical offices, with employee induction across functions and locations to facilitate growth. Eyeing the growth of AUM at a CAGR of 100% and significantly increasing the company’s market cap.

Company’s AUM stood at Rs116.32 crore with an annualized growth of 23% in Q1FY22-23. Star HFL has established co-lending partnerships with Capital India Home Loans and Singularity Credit Pvt. Ltd., which has resulted in AUM growth across its centres.

GNPA reduced to 2.75% during the quarter under review as against 3.09% in the previous corresponding quarter.

The company reported a 474% yoy jump in PAT at Rs1.36 crore as against Rs24 lakh in the previous corresponding quarter.

Total income grew by 38% yoy at Rs6.17 crore in Q1FY23 as compared to Rs4.48 crore in Q1FY22.