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LIC Housing Finance Ltd.

BSE: 500253 Sector: Financials
NSE: LICHSGFIN ISIN Code: INE115A01026
BSE LIVE 15:51 | 22 Nov 598.35 -2.60
(-0.43%)
OPEN

605.00

HIGH

605.00

LOW

593.00

NSE 15:53 | 22 Nov 599.00 -1.95
(-0.32%)
OPEN

602.20

HIGH

604.10

LOW

593.50

OPEN 605.00
PREVIOUS CLOSE 600.95
VOLUME 75140
52-Week high 794.10
52-Week low 502.90
P/E 15.19
Mkt Cap.(Rs cr) 30,196
Buy Price 0.00
Buy Qty 0.00
Sell Price 598.35
Sell Qty 455.00
OPEN 605.00
CLOSE 600.95
VOLUME 75140
52-Week high 794.10
52-Week low 502.90
P/E 15.19
Mkt Cap.(Rs cr) 30,196
Buy Price 0.00
Buy Qty 0.00
Sell Price 598.35
Sell Qty 455.00

LIC Housing Finance Ltd. (LICHSGFIN) - Chairman Speech

Company chairman speech

India is passing through significant positive shifts in terms of income levelsaspirations living standards and credit awareness. Interestingly as this side of thesector is strengthening the government is reinforcing its focus to bridge the gap thatstill exists in the housing sector. The government is playing a key role in thedevelopment of affordable housing sector in India. Under its watchful eyes the housingsector has been seeing a healthy growth with transparency and orderliness.

To address the wide unmet housing need of millions of Indians we offer a disciplineddistribution model product innovation and operating flexibility. At LIC Housing Financewe bring to this fast growing sector our deep knowledge and a service mindset directed atenriching the customer experience.

Given the positive push by the government housing finance is being perceived as themost lucrative sector in the current times which is elevating the competition within thesector. At LIC Housing Finance we believe that there is scope for everyone todifferentiate and only the most adaptive companies will flourish. With this thought weplan to leverage our extensive reach in the country to connect with the customer.Digitisation will be used to plug the gaps to enhance customer experience and increaseoperational efficiency. We will continue to focus on due diligence in line with our policyof 'zero tolerance for non performing assets'.

The impact of this policy has been rightly reflected in the improving asset qualitytrends of the Company. Our stability in asset quality can be largely attributed to theconservative LTVs focus on retail home loans catering predominantly to a salaried classcustomer base with sufficient collateralised lending.

At LIC Housing Finance we remain committed to the needs of housing. Our futurepriorities persist towards expanding our network and visibility to maintain our marketleadership position creating consumer friendly products to target new customer ensuringaccess to low-cost and diversified sources of funds fortifying our operating processesand risk management systems and strengthening our balance sheet to ensure financialflexibility.

It was an honour to take charge as the Chairman of LIC Housing Finance Limited from myillustrious predecessors whose contribution in the success of the Company isinspirational. During the year Mr S.K Roy and Ms Sunita Sharma have exited the Board ofDirectors. These directors have contributed to the success of the Company. Mr Vinay Shahhas assumed charge as the MD and CEO of the Company and has rich experience in the BFSIsegment.

Lastly I would like to express my gratitude to our Board of Directors for theirsupport and guidance. I am also grateful to all our stakeholders who have reposed theirtrust in us and given us constant support.

Wish Best Wishes

Mr V. K. Sharma

Chairman