Star Housing Finance Limited Announces Q3 Financial Results
Star Housing Finance Limited Announces Q3 Financial Results
Star Housing Finance Limited has growth momentum for the quarter ending Dec 31, 2021. Total Income for the period ending 9 months to Dec 31, 2021 has increased 20.12 per cent y-o-y to Rs.13.75 crores. Net Interest Income increased by 9.75 percent y-o-y to Rs. 8.57 crores. Loan book stands at Rs.101.6 crores as of Dec 31, 2021. The Company continues to invest in capacity creation that includes technology to enable hassle free loan processing, opening of physical branch offices and on boarding of quality manpower across business operations. Total expenses for the year have increased by 57 per cent y-o-y to Rs.12.58 crores. The net profit for the period of 9 months ending Dec 31, 2021 stands at Rs.0.90 crore.
Gross NPA as of Dec 31, 2021 stands at 3.34 per cent and Net NPA stands at 2.83 per cent. Write off for the period has been at Rs.0.39 crore. The stock fell in today’s trading session by 3.86 per cent. The stock was trading 52 week high at Rs 89 on poor Q3FY22 earing results. The loan book of the company crossed Rs 100 crore. Also it has launched rural home loan products under the name “Star Gram Griha Loans” to cater to incremental housing demand generated in rural geographies due to reverse migration in Covid-19 pandemic. The Net worth increased to Rs.62.63 crore by incremental capital infusion of Rs.8.17 crores through preferential allotment subscribed by retail investors containing marquee names from BFSI and allied space. Star HFL also entered in to co-lending partnership with Capital India Home Loans.