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.
Related News Articles
Emerging Talent Hubs in IndiA: Hyderabad
The rise of Tier 2 and satellite cities in India is reshaping organizations' location strategies and talent acquisition approaches
How Gen Z and Millennials are Redefining the Real Estate Market
The real estate market is undergoing a significant transformation as Gen Z and Millennials take centre stage, driven by their unique preferences and approaches to homeownership.
Maharashtra Court Cracks Down on Corruption: Former WCL Officials Sentenced to 5 Years' Imprisonment
In a significant blow to corruption, a Maharashtra court has sentenced two former Western Coalfields Limited (WCL) officials to 5 years' imprisonment and a fine of Rs. 20,000 in a bribery case.
From Selling Perfumes to Managing a Dh1.5 Billion Real Estate Empire: The Inspiring Journey of Kabir Joshi
Today, as the CEO of Vantage Capital and Vantage Properties, Kabir Joshi manages real estate deals valued at Dh1.5 billion. His rise from selling perfumes on U.S. streets to becoming a millionaire in Dubai is truly remarkable. Discover his journey.
Son's Triumph: Legal Battle for Property Possession Ends with Rs 37 Lakh Interest Award
A homebuyer from Panvel, Mumbai, fought tirelessly for the possession of a flat, for which 97% of the payment was made to the builder years ago. Tragically, the homebuyer passed away before seeing the end of the legal battle. However, his son continued th
NGT Mandate Pauses 200 Mumbai Real Estate Projects in Eco-Sensitive Zones
The National Green Tribunal's directive has become a pivotal juncture for Mumbai's real estate sector, halting around 200 projects across the city's metropolitan region, particularly those within a 5-kilometer radius of key ecological zones.