Star Housing Finance Ltd enters into co-lending partnership with Tata Capital Housing Finance Ltd

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 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 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 to create 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 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 enrich through 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 good quality loan book. Wish both teams good luck in this engagement and may this partnership prosper in times to come."

Source : Equity Bulls

Keywords

StarHousingFinance Colending Partnership TataCapitalHousingFinance