Star Housing Finance Ltd

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STARHFL •
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Star Housing Finance Ltd Company background

Founded in: 2005
Managing director: Ashish Jain
Star Housing Finance Limited (Star HFL) (Formerly known as Akme Star Housing Finance Limited) was incorporated in March 21, 2005. The company is registered as a Housing Finance Company (HFC) with National Housing Bank (NHB) to carry out the housing nance activities in India under Section 29 A of the National Housing Bank Act, 1987 with effect from 31st August, 2009. The company received a New Incorporation Certicate from RoC dated 10th May, 2021 in the name of Star Housing Finance Limited and have applied for a new certicate of registration to the regulator, NHB/RBI. The company, founded and promoted by Late Dr. Shri. Mohan Lal Nagda, is currently managed by a group of housing finance professionals. The Company is primarily engaged in providing loans to individuals, corporate and developers for purchase, construction, development and repair of houses, apartments and commercial properties in India. The company fulfill the home owning needs of the target EWS (Economically Weaker Section)/LIG (Low Income Group)/MIG (Middle Income Group) households by providing them long term housing finance towards the purchase of their home.The Company was formed with the main objective of providing financial assistance where an individual/ family can live in. In this scheme, the company support the people who are looking to purchase a new or second hand flat/ home depending upon their need. Star HFL have a scheme known as renovating existing units for renovation/ repair of existing units. The facility for this loan is easy and fast depending upon the condition of the house. The company provide extension loan plan for individuals, corporate to extend the loan for any reason. This scheme is available even for a small bedroom, balcony or roof top. It provides loan even for a plot on which a residential house is to be constructed. The Company help customers unlock the value of their property by availing loan against their unutilized property. The customers can utilize the loan amount for productive deployment in their business like business loan, education loan, SME loan, etc. The company considers project loan to builders for construction of residential units.In June 2019, Star HFL ventured into strategic partnership with Arkfin Investments Pvt. Ltd. (AIPL) to initiate overall transformation. In October 2019, AIPL invested incremental capital in Akme Star HFC thereby acquiring 21.5% stake in the company.During the Financial Year 202021, the Company sanctioned housing loans for Rs. 28.83 crore.During the Financial Year 202021, the Company disbursed loans for Rs. 2943.44 lakhs.During the Financial Year 202021, the Company expanded branch network to 5 states of India, covering Rajasthan, Gujarat, Maharashtra, Madhya Pradesh and Tamil Nadu with 7 branches.In FY 2021, the Company received Rs 7 Crore through Term Loan augmentation (TLTRO) from State Bank of India and Rs 12 Crore through term Loan Union Bank of India respectively. Star HFL was able to initiate engagement with the NHB and received credit lines through LIFT, SRF, and regular renance n FY 2021 amounting to Rs.24.60 crores.
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