Star HFL has been operating in rural areas of South Rajasthan for a decade, providing low-ticket housing finance assistance to first time home buyers in the economically weaker section (EWS)EWS)
The non-banking financial company said that enabling credit access to rural and semi-urban populations helped it reach a loan book of Rs 100 crore through deployment of core credit solutions aided with mobility.
After receiving its first institutional funding in October 2019, the company is on a transformation journey, resulting in geographic expansion, it said.
The company now has seven branches and 15 digital POPs (Point of Purchase) in Rajasthan, Gujarat, Madhya Pradesh. Maharashtra, and Tamil Nadu, which has 90 employees.
Ashish Jain, Managing Director, Star HFL said, “The loan book of Rs 100 crore is the first milestone that we as a team had resolved to achieve at the beginning of our transformation journey… Our aspirations to become a housing finance company. -India’s presence will take us to many more milestones in the times to come.”
He added that the company will focus on its exclusive retail housing finance support to homebuyers in the EWS segment, with an emphasis on creating a quality book.