LIC Housing Finance plans to expand project loan business in FY23

With this, "the company will take the share of project finance from 5 per cent to 10 per cent in incremental business in the current year", said Y Viswanatha Gowd, MD and CEO, LIC Housing Finance.

With an upturn in the real estate cycle, LIC Housing Finance plans to step up project finance lending and increase the share of such disbursements to 10 per cent in 2022-23 (FY23), from the present-day 5 per cent.

On the project loan side, in the first half of 2021-22 (FY22), activities were not in full swing. Also, business was impacted by the third wave in the second half of FY22. Now the business environment is clear. There may be a drawal of money for existing projects. Plus, there is a pipeline of projects being considered in excess of Rs 1,000 crore.

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