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Star Housing Finance Limited (Star HFL) reported outstanding financial results for Q2 FY25, showcasing a 62% year-on-year growth in Assets Under Management (AUM) to Rs. 517.84 crore and a 60.56% rise in interest income. The company maintained a healthy Net Interest Margin (NIM) of 7.47% and achieved a 78.28% increase in pre-tax profit (PBT) to Rs. 3.94 crore. Asset quality remained strong with a GNPA ratio of 1.56%. Star HFL secured Rs. 70 crore in funding to support expansion and continues to meet affordable housing finance needs across multiple states, focusing on underserved economically weaker sections and low-income groups.
Star Housing Finance Limited (Star HFL), a publicly listed company on the Bombay Stock Exchange (BSE), has reported exceptional performance in the retail home finance sector for the quarter ending 30 September 2024. The company demonstrated robust business and financial growth, reflecting its strategic approach to sustainable expansion. Advertisement
The scale of Star HFL's Assets Under Management (AUM) grew significantly to Rs. 517.84 crore, marking a substantial 62% year-on-year increase from a previous figure of just over Rs. 500 crore. This achievement underscores the company's focus on disbursement outflows and initiatives designed to ensure long-term, sustainable growth.
The company also witnessed substantial growth in income. Interest income rose by 60.56% during the year, driven by an increase in loan disbursements. Star HFL reported a healthy Net Interest Margin (NIM) of 7.47%, indicating efficient resource management. Pre-tax profit (PBT) reached Rs. 3.94 crore, reflecting a year-on-year growth rate of 78.28%. For the reporting period, PBT was Rs. 3.06 crore, showcasing a 47.83% increase. Furthermore, the company retained an impressive net worth of Rs. 140.23 crore while maintaining a moderate leverage ratio of 2.68x, highlighting its strong financial standing.
Maintaining asset quality remains a central focus for Star HFL. The company reported a Gross Non-Performing Asset (GNPA) ratio of 1.56% and a Net NPA ratio of 1.09%, demonstrating prudent credit policies and an efficient risk management framework. These figures emphasise the company's commitment to sustaining its competitive edge in the housing finance market.
To support its expansion plans, Star HFL secured incremental liabilities of Rs. 70 crore during the quarter from reputable institutional partners. This capital infusion strengthens the company's liquidity position and enhances its ability to expand its loan book, further supporting its growth trajectory.
Star HFL has a dedicated workforce of over 250 professionals specialising in housing finance. The company operates across multiple states, including Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, the National Capital Region (NCR), and Tamil Nadu. This wide operational reach enables Star HFL to cater to the housing finance needs of economically weaker sections (EWS) and low-income groups (LIG), particularly in underserved areas.
The company's performance reflects its strategic focus on sustainable growth, efficient risk management, and addressing the growing demand for affordable housing finance. Star HFL is well-positioned to further strengthen its presence in the sector and continue its mission of providing housing finance solutions to underserved communities.
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