260 per cent returns: This multibagger micro-cap company announces robust Q1FY24 results!
The company has delivered returns of 58 per cent over the past year and exceptional returns of 268 per cent over the past 3 years.
Star Housing Finance Ltd (Star HFL) is a rural-focused housing finance company listed on the BSE. Since 2009, the company has been providing long-term housing finance to economically weaker section (EWS) and low-income group (LIG) families for affordable housing projects in Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu.
As a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY), Star HFL has received subsidies for qualified customers through the CLSS scheme. The company is professionally managed and has its registered and corporate office in Mumbai, Maharashtra.
On July 15, 2023, Star Housing Finance Ltd reported their Q1FY24 results in which sales of the company surged by 100 per cent and stood at Rs 12.29 crore while operating profit of the company surged by 281 per cent to Rs 7.67 crore. Similarly, net profit of the company grew by 122 per cent to Rs 1.55 crore as compared to Q1FY23. Furthermore, the company has been able to grow its sales by 38 per cent (CAGR) for the past 5 years and net profit grew by 19 per cent (CAGR) for the same period.
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The company has delivered returns of 58 per cent over the past year and exceptional returns of 268 per cent over the past 3 years.
On Monday, shares of the company surged by more than 2 per cent and made an intraday high of Rs 61.70.
Investors should keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.