Star Housing Finance’s shares rose 3% to Rs 46.75 on Wednesday, giving the business a market valuation of more than Rs 350 crore.
The multibagger home finance provider is trying to improve its position in Western India, particularly Rajasthan, and has just restructured its senior management.
The BSE-listed rural oriented home finance player has appointed Kalpesh Dave as CEO and Anoop Saxena as COO, accelerating its growth trajectory and strengthening its position in the market, the business said in an exchange filing.
- Star Housing Finance’s shares rose 3% to Rs 46.75 on Wednesday, giving the business a market valuation of more than Rs 350 crore.
- The stock has returned 50% since hitting a 52-week low of Rs 31.26 on July 1, 2022. From its Covid-19 lows, the stock has returned 300 percent.
The decision to expand into larger premises in Jaipur is a testament to the company’s outstanding success in the previous year and continuous progress in the current fiscal year, according to an exchange filing.
- “This expansion is consistent with Star HFL’s strategic plans to capitalise on the enormous potential of Rajasthan’s rural housing finance sector.”
Star HFL, headquartered in Mumbai, has been designated as a principle lending institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY). Star HFL is a rural-focused housing financing firm that operates in rural and semi-urban areas to assist first-time EWS/LIG house buyers with the acquisition or construction of low-cost housing units.
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