Star Housing Finance's board met, approving Q1 financial results with a net profit of Rs. 1.38 Cr.

The company's net worth stood at Rs. 45.43 Cr, while Gross NPAs were 1.65% and Net NPAs 1.13%. A final dividend of Rs. 0.10 per share was proposed, subject to shareholder approval.

The board also approved issuing non-convertible debentures up to Rs. 50 Cr and increasing authorized capital from Rs. 50 Cr to Rs. 125 Cr.

Key board changes include the re-appointment of Mr. Kalpesh Dave, appointment of Mr. Shakir Sheikh as Chief Compliance Officer, and two director resignations.

Certain promoters seek reclassification to the public category.