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STAR Housing Finance Limited (Star HFL), a BSE listed (BSE Scrip code BOM: 539017) rural centric home finance company has registered record operational performance for the first half of the current financial year. The Board of directors of Star HFL have today approved the H1 FY'2022-23 financial results for the period ending on Sep 30, 2022.Operational and Financial Highlights:Highest Disbursements: Star HFL has recorded highest disbursements and registered a year on year 358 per cent growth for H1 and quarter on quarter 85 per cent growth for Q2 FY'22-23. The loan book now crossed Rs 150 crs and in line to the business plan of crossing Rs.500 crs AUM through its presence in Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil NaduBranch Network: Star HFL has now presence in over 20 locations through which it covers 40 districts in its operational semi urban/rural geographies and provides loans in the average range of Rs.10 lakhsNet Worth set to cross Rs.100 crs: Star HFL's net worth is now set to cross Rs.100 crs (subject to all approvals & compliances incl. full subscription of equity shares in the current preferential issue) and this will be achieved through multiple rounds of capital raise in which professionals including Mr. Kamlesh Shah; FPI entity and a family office are now set to be a part of the eco systemRevenue Growth: Interest Income registered a year on year 42 per cent growth and quarter on quarter 49 per cent growth. Total Income registered a year on year 64 per cent growth and quarter on quarter 40 per cent growthProfit Growth: Profit After Tax registered a year on year 480 per cent growth for H1 and quarter on quarter 60 per cent growth for Q2 FY'22-23Bonus and sub-division of Shares: Star HFL Board has approved Issue of 1 (one) Bonus equity share for every 1 (one) fully paid-up equity share and sub-division/split of 1 (one) existing equity share of face value of Rs. 10/-(Rupees Ten only) into Two (2) equity shares of face value of Rs 5/- (Rupees Five Only) fully paid-up. Post necessary approvals and subsequent to the record date, the bonus and split will be effectedEmployee Ownership Enabled: ESOP I scheme for eligible employees is getting vested resulting in employee ownership and accountability. ESOP II scheme for eligible employees to be announced soon post getting all necessary approvalsDebt Raised: Star HFL has added credit lines from the SBI, LIC HFL, MAS and CIFCL in H1 FY'22-23. Star HFL also enjoys refinance facilities from the NHB. Star HFL has strong funding pipeline through its relationships with Banks and FIs to cater to the growth aspirations.Speaking on the performance of the Company, Ashish Jain, MD of Star HFL said, "The agenda of quality growth in chosen market continues to be the agenda of the Company. We believe to leverage the tailwind of semi urban and rural locations where we witness nuclearization, infrastructure development and banking habits making long term loans in these markets now becoming more feasible"Speaking on the performance Kalpesh Dave, Head Corporate Planning and Strategy at Star HFL said, "We are happy for the growth and now have enough triggers of value unlocking. Our leverage levels are sub 1.0x giving enough headroom for liability scale up for AUM growth. We are confident of getting re rated based on the merit of business and operational performance. Board's decision for bonus and sub division of shares is expected to reward shareholders who have reposed trust in the Company. One sees progression to the NSE platform subject to all necessary approvals and compliances as another value creation trigger. We look forward to continue to be fully complied and grow responsibly from here on to create value for all stakeholders"Company Financials for H1 FY2022-23Profit and Loss Statement (Figures in Lakhs):Balance Sheet Statement (Figures in Lakhs)Star Housing Finance Limited (Star HFL) is BSE listed rural focused housing finance company. The Company has been operational in the low cost housing finance space since 2009. Star HFL provides long term housing finance assistance to EWS/LIG families towards purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across states of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidy for its qualified customers under CLSS scheme. Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra.This story has been provided by PNN.will not be responsible in any way for the content in this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Star Housing Finance Limited, a rural focused home finance company posts 100 per cent+ y-o-y growth in FY '2022-23

Mumbai (Maharashtra) [India], April 24 (/PNN): Star Housing Finance Limited (Star HFL), (BSE Scrip code BOM: 539017) a rural ... ...

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