Mumbai (Maharashtra) [India], March 22: Star Housing Finance Ltd (Star HFL. BSE: 539017), a retail-focused semi-urban / rural housing finance company, has entered into a co-lending partnership with Tata Capital Housing Finance Limited (TCHFL). The partnership aims to leverage the domain of Star HFL in low-ticket affordable housing finance space and the mutual synergies arising out of operations. This agreement is expected to bolster Star HFL’s AUM growth journey. Star HFL has transitioned to a professionally run housing finance company governed by a strong and independent board. With a strong risk and governance framework, the Company has expanded to become a multi-state operational company present in semi-urban / rural micro markets. Star HFL branch network across Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, NCR and Tamil Nadu would be utilized in this partnership to provide housing finance assistance predominantly to home buyers in economically weaker section (EWS) and low-income group (LIG) segment.
Speaking on the occasion, Mr. Kalpesh Dave, CEO of Star HFL, said, “We value this partnership with Tata Capital Housing Finance Limited. This partnership validates our journey and continued focus on creating a quality loan book. We are happy that Tata Capital Housing Finance Limited trusted and validated our domain and capabilities to build a retail low-ticket home loan book. We aim to service 5000 families in our operational geographies in the first phase of 6-8 operational quarters and look forward to a long and mutually beneficial association”.
Mr. Ashish Jain, MD of Star HFL, said, “Happy to be entering into the co-lending partnership with Tata Capital Housing Finance Limited. I am confident that both teams will be enriched through the exchange of best practices across operational areas. There is an underserved segment of prospective home buyers who do not have formal credit access, and therefore, their home-owning dreams remain unrealized. Through this partnership, we look to further augment credit access for deserving customers in this addressable segment and, at the same time, build a good-quality loan book. Wish both teams good luck in this engagement, and may this partnership prosper in times to come”.
Star Housing Finance Limited (Star HFL) is a listed rural-focused housing finance company. The Company has been operational in the low-cost housing finance space since 2009. Star HFL provides long-term housing finance assistance to EWS/LIG families towards the purchase/construction of low-cost housing units (affordable housing) in its operational geographies. Star HFL is a professionally managed Company with a presence across the states of Maharashtra, Madhya Pradesh, NCR, Gujarat, Rajasthan and Tamil Nadu. Star HFL is registered as a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has received subsidies for its qualified customers under the CLSS scheme. Star HFL has its Registered & Corporate Office in Mumbai, Maharashtra.
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