- Despite weak trends on Dalal Street, Star Housing Finance Ltd shares surged nearly 4% from Wednesday’s close price.
- The company’s Q4 results 2024 revealed consistent growth in the retail home finance space.
- Star Housing Finance Ltd has expanded its reach, particularly in the North with a presence in NCR.
Star Housing Finance Ltd shares surge amid weak market trends, showcasing robust business performance and potential for future expansion.
Star Housing Finance Ltd Outperforms Market Trends
Despite the overall weak trends on Dalal Street, shares of Star Housing Finance Ltd stood out with a strong buying interest during Thursday deals. The share price opened on a positive note at ₹54.90 apiece on BSE and quickly surged to an intraday high of ₹56.80 within a few hours of the stock market’s opening bell. This impressive climb marked a nearly 4 percent rise from Wednesday’s close price of ₹54.66 apiece, showcasing the market strength of Star Housing Finance Ltd.
Strong Q4 Results Boost Investor Confidence
On Wednesday, the board of directors of Star Housing Finance Ltd announced the Q4 results 2024, which revealed the company’s ability to maintain its growth trajectory in the retail home finance space. This consistent growth has translated into a robust business and financial performance for the fiscal year ending on March 31, 2024, providing reassurance to stakeholders and investors.
Key Highlights of Star HFL Q4 Results 2024
Business Numbers: AUM increased 73.52% y-o-y to ₹426.86 crore. The Company disbursed ₹240.86 crore in the financial year. Income Growth: Interest income grew by 66.82% y-o-y on the back of strong traction in disbursements during the year. Net Interest Margin (NIM) stands at 7.86%. Asset Quality Remains Intact: Despite the challenging economic conditions, Star HFL has maintained a strong asset quality. PAR (0+ days past due) stood at 3.22%, of which GNPA stands at 1.50% and NNPA stands at 1.02% as of March 31, 2024, providing a sense of security to our stakeholders.
Conclusion
Star Housing Finance Ltd has shown significant growth and resilience in a challenging market environment. The company’s strong Q4 results and its strategic expansion plans indicate a promising future outlook. However, investors should always consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
