PNN
Mumbai (Maharashtra) [India], September 9: Star Housing Finance Limited (Star HFL), a retail-focused housing finance company specialising in low-ticket loans, has crossed Rs. 500 Crs AUM. The company primarily operates in tier II and tier III towns and semi-urban areas and has served more than 5000 families, focusing on the Economically Weaker Section (EWS) / Low Income Group (LIG) segment.
This represents a significant milestone for the Company, aligning with the stated growth objectives. Star HFL has achieved this through its 30+ operational branches and staff of 250+ employees working across geographies and business functions. The occasion was celebrated across locations with zest and enthusiasm.
Star HFL's team is made up of HFC professionals with deep expertise in both domain and execution. The senior leadership team is backed by strong and independent Board comprising reputed professionals from the BFSI space. The Company has scaled up while remaining steadfast in its commitment to its business philosophy of providing housing finance assistance to prospective first-time home buyers within its target customer segment.
Commenting on the milestone, Mr Kalpesh Dave, CEO of Star HFL, said, "We are thrilled to become an Rs.500 crs AUM company. This milestone enhances our visibility in the stakeholder spectrum, especially in the debt market, equity market and rating engagement. Our meaningful role in fulfilling home-owning aspirations for our deserving customers brings us even greater satisfaction. This has been teamwork and would not have been possible without the support of all stakeholders, including the Reserve Bank of India, the National Housing Bank, our banking partners, our rating partners, our business associates, our valued customers and last but not least, our shareholders. As we embark on the next phase of our growth journey, we are excited and optimistic about our goal to serve over 10,000 homebuyers in the next 6 to 8 quarters."
Affordable Housing has seen renewed focus from the Government of India with a relaunch of PMAY through PMAY 2.0 and re-start the credit-linked subsidy scheme. Moreover, recent budget announcements have established a strong framework assisting in facilitating more than 3 crore houses across the length and breadth of India, including the outlay of more than Rs. 10 lakh crs. These announcements should add to the favourable macros in the housing space. Housing finance companies, particularly those focused on retail, affordable housing spaces like Star HFL, are well-positioned to benefit from these tailwinds and are well-poised for future growth.\
About Star Housing Finance Limited (Star HFL)
Star Housing Finance Limited (Star HFL) is a retail housing finance company. The Company has been operational in the low-cost housing space. Star HFL provides long-term housing finance assistance to EWS/LIG families towards the purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across 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). Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra.
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