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Star Housing Finance received credit rating updates from India Ratings. The agency assigned an 'IND BBB/Stable' rating to an additional INR 200 Cr of Non-Convertible Debentures and affirmed the 'IND BBB/Stable' rating for existing bank loans of INR 450 Cr and NCDs of INR 50 Cr. This rating reflects the company's expanding franchise and improving loan book quality. While Star HFL showed steady profitability with a PAT of INR 11.1 Cr in FY25 and targets INR 750 Cr AUM by FY27, the rating acknowledges challenges like its modest scale and high concentration in Maharashtra. The company plans to raise INR 40-50 Cr in new equity to support growth.