Affordable housing-focussed Star Housing Finance Ltd (Star HFL) on Tuesday said its loan book has reached Rs 100 crore during the current fiscal year so far. Star Housing Finance, operating in the affordable housing finance space, has achieved a milestone of Rs 100-crore loan book in the current financial year, it said in a statement.
Star HFL is operational in rural areas of south Rajasthan for a decade providing low-ticket housing finance assistance to first-time homebuyers in the economically weaker section (EWS). The non-banking financial company said enabling credit access to rural and semi-urban population helped it reach the Rs 100-crore loan book by way of deployment of core lending solutions aided with mobility.
After receiving its first institutional funding in October 2019, the company is on a transformation journey, resulting in geographical expansion, it said. The company now has seven branches and 15 digital PoPs (points of purchase) across Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, and Tamil Nadu, with a staff strength of 90 employees.Star HFL Managing Director Ashish Jain said, "The Rs 100-crore loan book is the first landmark we as a team had resolved to achieve at the outset of our transformation journey…our aspirations of becoming an affordable housing finance company with a pan-India presence will take us through many more milestones in times to come." He said the company will focus on its exclusive retail housing finance assistance to homebuyers in the EWS segment with an emphasis to build up a quality book.