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Star Housing Finance Shares Up 4% Post Q4 Results Amid Market Drop

**Star Housing Finance Shares Stand Out Amid Weak Market Trends**

In today's trading session on Dalal Street, despite prevailing market downturns, Star Housing Finance Ltd shares showcased remarkable resilience, attracting strong buying interest among investors. The stock opened positively at ₹54.90 per share on the Bombay Stock Exchange (BSE) and swiftly surged to an intraday high of ₹56.80, marking a notable 4% increase from Wednesday's closing price of ₹54.66 per share.

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**Key Highlights from Star Housing Finance's Q4 Results 2024:**

**1. Strong Business Performance:**
   - The company witnessed a substantial growth in Assets Under Management (AUM), which surged by 73.52% year-on-year (y-o-y) to ₹426.86 crore.
   - Notably, Star Housing Finance disbursed ₹240.86 crore during the financial year, reflecting robust business expansion.

**2. Impressive Income Growth:**
   - Interest income recorded a significant growth of 66.82% y-o-y, primarily driven by strong disbursement traction throughout the year.
   - The Net Interest Margin (NIM) stood at a commendable 7.86%, underlining the company's efficient management of interest-related income.

**3. Maintained Asset Quality:**
   - Despite challenging economic conditions, Star Housing Finance maintained a strong asset quality, with Portfolio at Risk (PAR) standing at 3.22%.
   - Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) remained low at 1.50% and 1.02% respectively, as of March 31, 2024.

**4. Robust Profitability:**
   - Profit Before Tax exhibited a notable growth of 43.10% y-o-y, underscoring the company's consistent profitability.

**5. Strategic Network Expansion:**
   - Star Housing Finance significantly expanded its operational reach, particularly in the North, including the National Capital Region (NCR).
   - The company now boasts 24 physical offices and 9 digital Points of Presence (PoPs), supported by a dedicated team of over 250 housing finance professionals.

**6. Strengthened Capitalization:**
   - The company bolstered its capitalization through successful issuance of warrants amounting to ₹60 crore, with strong subscriptions from Family Offices, High Net Worth Individuals (HNIs), and retail investors.
   - 25% of the total warrant amount has already been received, enhancing confidence in the company's financial stability.

**7. Rating Upgrade and Liability Management:**
   - Star Housing Finance received a notable rating upgrade from both CARE and India Ratings, reflecting its improved financial health.
   - Despite incremental liabilities amounting to ₹224.42 crore from banks and financial institutions, the company maintains strong relationships and a diversified liability program.

**Conclusion:**
Despite prevailing market challenges, Star Housing Finance's stellar performance in Q4 2024, coupled with strategic initiatives and prudent financial management, positions the company for sustained growth and value creation for stakeholders.

May 9, 2024 5:53 p.m. 6977

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