Star Housing Finance Sees Impressive Growth in Q1 FY25 with 94% Profit Increase
The semi-urban and rural-focused home finance company Star Housing Finance Ltd reported a significant jump in revenue and profit in the April-June quarter of 2024-25.
Housing FinanceReal EstateRural IndiaSemi Urban MarketsHome Finance CompanyReal Estate MumbaiJul 28, 2024
The company's interest income surged to Rs 18.08 crore in the first quarter of FY25, up from Rs 11.20 crore in the same period last year. Additionally, Star HFL's assets under management grew by 73.55% to Rs 471.41 crore in the June quarter, compared to the same period last year. The company's disbursements stood at Rs 61.23 crore in the quarter under review.
The most impressive aspect of Star HFL's Q1 performance was the 94% increase in profit after tax, which rose to Rs 3.02 crore in the quarter, compared to Rs 1.55 crore in the same period last year. This growth is a testament to the company's focus on serving the semi-urban and rural markets, which have witnessed significant growth in recent times.
Information
Star Housing Finance Ltd is a BSE-listed company that focuses on providing home finance solutions to customers in semi-urban and rural areas. The company has been working towards bridging the gap between urban and rural India, by providing access to credit for homebuyers in these regions.
Star Housing Finance Ltd is a leading home finance company in India, with a strong presence in semi-urban and rural areas. The company is committed to providing affordable housing finance solutions to its customers, and has been recognized for its efforts in promoting financial inclusion in rural India.
Frequently Asked Questions
What was the revenue growth of Star Housing Finance Ltd in Q1 FY25?
The company's total revenue rose by 70% to Rs 20.96 crore in the April-June quarter of 2024-25.
What was the growth in interest income of Star Housing Finance Ltd in Q1 FY25?
The company's interest income surged to Rs 18.08 crore in the first quarter of FY25, up from Rs 11.20 crore in the same period last year.
What was the growth in profit after tax of Star Housing Finance Ltd in Q1 FY25?
The company's profit after tax rose by 94% to Rs 3.02 crore in the quarter, compared to Rs 1.55 crore in the same period last year.
What is the focus area of Star Housing Finance Ltd?
The company focuses on providing home finance solutions to customers in semi-urban and rural areas.
Is Star Housing Finance Ltd a listed company?
Yes, the company is listed on the BSE.
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