LIC Housing Finance Ltd is one of thelargest Housing Finance company in India. The company is engaged in the business of providing loans for purchase, construction, repairs and renovation of houses/flats to individuals, corporate bodies, builders and co-operative housing societies and has its operations within India. They provide loans for homes, construction activities, its corporate housing schemes. Around 89% of the loan portfolio derived from the retail segment and the rest from large corporate clients. The main objective of the company is providing long term finance to individuals for purchase / construction / repair and renovation of new / existing flats / houses. Thecompany also provides finance on existing property for business / personal needsand gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments. The company through their subsidiaries LICHFL Care Homes Limited, is engaged in the business of setting up, running and maintaining assisted living community centre/care homes for senior citizens; LICHFL Financial Services Ltd, is engaged in the business of marketing various financial products and services, and LICHFL Asset Management Company Ltd is engaged in business of managing, advising, administering mutual funds, unit trusts, investment trusts and to act as financial and investment advisors and render financial advisory services. The company possesses one of the industry's most extensive marketing network in India. The company is having their registered and corporate office at Mumbai. They have7 regional offices, 13 back offices and 190 marketing units across India. In addition the company has appointed over1241 direct sales agents (DSAs),6535 home loan agents (HLAs) and782 customer relationship associates (CRAs) to extend their marketing reach. They have set up a representative office in Dubai and Kuwait to cater to the non-resident Indians in the GLCC countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia. LIC Housing Finance Ltd was incorporated on June 19 1989. The company was promoted by LIC of India and went public in the year 1994. The company is recognized by National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange. In the period of 2001, the company launched their new scheme called Griha Vikas. In the year 2002, the company signed a deed of assignment to take over individual housing loan portfolio of Citibank. In the year 2003, they unveiled a new project for elderly people called LICHFL Care Homes. The company launched their maiden GDR issue in the year 2004. Also, they introduced flexi-fixed scheme offering fixed rate of interest for first five years and variable thereafter. In October 2005, the company started offering of 'New Griha Laxmi' housing loans against the security of certain approved financial assets like Bank Fixed Deposits, National Savings Certificates and Life Insurance Policies. In the year 2006, the company introduced new Griha Jestha for senior citizens for buying unit of LICHFL Care Homes Ltd. In May 2007, the company launched maiden Fixed Deposit Scheme. In October 31, 2007, the company incorporated LICHFL Financial Services Ltd for undertaking non fund based activities like marketing of housing loans, insurance products, credit card, mutual fund, personal loan etc. In February 2008, they launched reverse mortage for senior citizens above 60 years of age. In February 14, 2008, the company incorporated LICHFL Asset Management Company Private Limited for undertaking the business of managing, advising, administering venture funds, unit trust, investment trust in India as well as abroad. In March 5, 2008, the company incorporated LICHFL Trustee Company Private Limited for undertaking the business of trustees of venture capital trust, funds - in India and offshore fund. In March 12, 2008, they launched a new venture capital fund for realty projects. During the year 2009-10, the company was awarded the 'Second Best Home Loan Provider' award by Outlook Profit. During the year 2010-11, the company launched a unique interest rate scheme namely, 'MINI 5' to cater to housing finance needs of the priority sector population residing in Tier II and Tier III cities.