Star Housing Finance opens new office in Udaipur; stock under pressure

26 Aug 2022 , 10:24 AM

Star Housing Finance Limited (Star HFL), a rural-focused HFC, has changed its address. This office will serve as a zonal office for Rajasthan.

The new office address is: 1179, 2nd Floor, Sector 11, Opp. Agarwal Dharamshala, Udaipur 313001.

This office will serve as a primary hub for all other operational sites in the state, and it will be prepared to manage higher volumes as the firm seeks to expand its book over the following 24-36 months.

Star HFL is presently a multi-state operating housing finance organization with more than 120 workers. The firm began as a tiny operation in Udaipur and is now located in Mumbai.

After more than a decade of business in Udaipur, HFC has established a reasonable presence in and around the city.

The new premises, which will serve as a zonal centre, will allow for greater penetration throughout the state and will be digitally linked to rural and semi-urban operational sites, stated the company in media reports.

Ashish Jain stated that Star HFL is looking forward to growing its AUM, which is supported by robust processes and a risk framework.

The company’s business concept will remain the same: to provide finance to first-time home EWS / LIG purchasers in rural areas. Company’s specialized rural solutions will also allow it to address the housing financing needs of the Rajasthan borrower sector.

At around 10.28 AM, Star Housing was trading at Rs153.80, down by 0.16% against previous close of Rs154.05 on BSE. So far, it hit intraday high and low of Rs154.05 and Rs152.10 respectively.

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