Star Housing Fin

- The company has a robust and strong liability pipeline planned for the financial year to support loan book growth. - Current borrowings stand at Rs. 371.51 crores from 6 banks and 11 financial institutions, including NHB refinance facilities and NCDs. - Average borrowing cost is around 12.2%, with discussions on reducing it below 12% through future funding. - No debt securitization has been done in this quarter. - NHB refinance is expected in H2 of the year, but the quantum is yet to be finalized. - There is no explicit mention of immediate equity fundraising. - For listing on NSE, the company needs to maintain a minimum net worth of Rs. 75 crores for 3 successive years, which is a prerequisite before considering such a step. - The management focuses on building a diverse funding base to sustain growth and operations under changing economic conditions.

- The company is focused on investing in capacity creation through expansion of branch network, recruitment of quality manpower, and digitization of processes. - There is an emphasis on strengthening operational capabilities by investing in human resources, branch infrastructure, and technology. - They have implemented an upgraded lending suite providing end-to-end home loan processing and receivable management functionalities to improve productivity and credit management. - The capital investment is aimed at supporting growth initiatives and maintaining high asset quality standards. - No specific mention of large-scale capex or strategic investments like acquisitions or joint ventures was made in the call. - The approach is to build operational leverage slowly while cautiously calibrating growth and funding moves.

- Star Housing Finance aims to continue strong growth in assets under management (AUM), targeting to reach around Rs. 700 crores in the near future. - The company maintains a steady disbursement run-rate of Rs. 15-20 crores monthly, projecting around Rs. 240-250 crores for the full financial year, consistent with prior year levels but with operational leverage focus. - H2 is traditionally stronger than H1 in lending activity, with expectations of higher disbursements post-Diwali due to increased market activities. - Growth strategy emphasizes increasing sales staff productivity (100 relationship officers targeting 2.5-3.5 loans per month). - Star Housing Finance plans to cautiously scale operations in line with funding availability and seasoning of the loan book to enable rating upgrades and sustainable long-term growth. - Emphasis on expanding branch network, recruitment, and digitization underpin future growth.

- Star Housing Finance Limited aims to sustain strong AUM growth, having crossed ₹500 crore with 62% YoY increase. - Focus on steady disbursement run rate of ₹15-20 crore per month to reach ₹600-700 crore AUM by FY25. - Cost of funds targeted to reduce below 12%, potentially to ~11.75%, improving margins. - Expected NIMs around 450-500 bps; margin accretion of 25-36 bps anticipated next fiscal. - Profit after tax grew 47.83% YoY in H1 FY25; management confident of continuing momentum. - Growth driven by direct sales and co-lending partnerships; portfolio seasoning and credit quality are key priorities. - Long-term strategy emphasizes operational leverage and controlled loan book seasoning to support rating upgrades and sustainable profit growth.

- The company mentioned having a "blend of undone limits and pending compulsions" in their pipeline, indicating existing pending orders or undrawn credit lines to support growth (Page 3). - They highlighted a "strong liability pipeline" planned according to the business plan for the financial year, which provides confidence to execute asset growth (Pages 3 and 4). - Growth and disbursement momentum is expected to continue with a steady run rate of around Rs. 15 to 20 crores per month, targeting total disbursements around Rs. 240 crores for the year (Pages 6, 8). - The ability to sustain or improve growth depends on successfully securing funding and converting sanctioned facilities into utilization (Page 10).