Page 2 - Lic Housing Finance

ITC, NTPC, LIC Housing among 10 F&O stocks to watch ahead of June expiry

The Nifty PCR data suggests that the index may attempt a rally towards 23,700 level ahead of the June series expiry; On the downside, strong support is expected around 23,350 - 23,290.

LIC Housing Finance Q4 result: Net profit down 7.5% to Rs 1091 cr

Mortgage financier LIC Housing Finance on Wednesday reported a 7.5 per cent decline in its profit at Rs 1,091 crore in the fourth quarter ended in March 2024. LIC promoted housing finance company had reported a profit of Rs 1,180 crore in the year ago period. The total income increased to Rs 6,937 crore during the quarter under review against Rs 6,415 crore in the same period last year, LIC Housing Finance said in a regulatory filing. The interest income of the company rose to Rs 6,888 crore as against Rs 6,378 crore in the fourth quarter of previous year. During the quarter ended March 31, 2024, the company has reversed a provision of Rs 31.56 crore in respect of Investment in Alternate Investment Funds (AIFs) pursuant to the RBI circular dated March 27, 2024, it said. With regard to asset quality, LIC Housing Finance witnessed improvement with gross non-performing assets (NPAs) to 3.31 per cent from 4.41 per cent at the end of March 2023. The net NPA of the company too declined

RBI imposes monetary penalty on IDFC First Bank, LIC Housing Finance

Reserve Bank of India has imposed monetary penalty of Rs 1 crore on private sector lender IDFC First Bank for non-compliance with certain directions issued by regulator on Loans and Advances

RBI imposes penalty of Rs 1 crore on IDFC First Bank for violation of norms

The Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms. The penalty on IDFC First Bank has been imposed for non-compliance with certain directions on Loans and Advances Statutory and Other Restrictions', the central bank said in a statement. In another statement, it said the penalty on LIC Housing Finance has been levied for non-compliance with certain provisions of the Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by RBI. In both cases, penalties are based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by them with their respective customers. Meanwhile, the RBI has cancelled certificate of registration (CoR) of four NBFCs -- Kundles Motor Finance, Nithya Finance, Bhatia Hire Purchase, and Jiwanjyoti Deposits and Advances. The four ...

LIC Housing Finance plans to raise funds via green bonds in next fiscal yr

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, plans to mobilise funds through green bonds in the coming financial year with an aim to finance environmentally-sustainable housing projects. "Green financing is something that we will look at the next year and we would deploy the fund for financing green housing projects," LIC Housing Finance MD and CEO Tribhuwan Adhikari told PTI in an interaction. LIC Housing Finance will have its board meeting on March 7 to consider and approve the borrowing plan for 2024-2025 through loans or issue of redeemable non-convertible debentures, zero couponed bonds, subordinate debt, Tier II bonds or any other means approved by the regulator. Adhikari said the company hopes to hit the net profit of Rs 5,000 crore-milestone by the end of current financial year on the back of robust loan demand and expansion in non-core business. The non-core businesses include Loan Against Property (LAP) and affordable housing finance, he ...

LIC Housing Finance hopes to earn Rs 5,000 cr profit in FY24: CEO

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, is expecting a net profit of Rs 5,000 crore in the current financial year on the back of robust loan demand and expansion in non-core business. The non-core business includes Loan Against Property (LAP) and affordable housing finance, LIC Housing Finance managing director and CEO Tribhuwan Adhikari told PTI in an interaction. During 2022-23, the biggest housing finance company earned a net profit of Rs 2,891 crore. "Affordable housing segment remained strong in tier-2 and tier-3 markets. We remained focused on this segment, as it gives an opportunity to millions of aspiring Indians to own their home with a moderate budget," he said. In addition to business growth, he said, "our endeavour has been to improve service standards through ongoing digital transformation of our processes." Fourth quarter is usually the most important business period for the company and going by the current trends, he said, "we expect to clo

One size fits all doesn't work in affordable housing: Expert at BS IMLC

At the BS IML Conclave 2024, LIC Housing Finance CEO T Adhikari said that one size fits all scheme doesn't work in affordable housing

LIC Housing Finance targets upgrade after stable performance in Q3

The credit cost was stable sequentially at 0.6 per cent while write-offs moderated to Rs 57.7 crore

LIC Housing Finance expects to report 15% improvement in FY25 loan book

The disbursements in third quarter of FY24 was at Rs 15184 crore 5 per cent lower from Rs 16100 crore in the year ago period

LICHFL aims to double affordable housing share in loan book in 2 years

LIC Housing Finance is aiming to more than double the share of affordable housing loans in its loan book to 20-25 per cent in the next two years, a top official said on Monday. The home finance arm of the insurance behemoth has witnessed a slower loan growth at 5 per cent in the December quarter due to internal restructuring and management changes, its chief executive and managing director T Adhikari, who assumed charge in August, told reporters. He said the company has been focused on the salaried and the high credit scores segment till now, which has led to a lower focus on affordable housing finance till now. "At present, affordable housing is 8-10 per cent of the portfolio, and we are targeting to take it to 20-25 per cent of the loanbook in two years," Adhikari said. He said the segment provides handsome growth opportunities, given the demand for such credit, and offers wider margins to financiers. There will be additional help coming by way of the government's priorities as

LIC Housing Finance Q3 profits more than doubles, hits Rs 1,163 crore

Mortgage lender LIC Housing Finance on Friday reported a more than two-fold jump in profit at Rs 1,163 crore in the third quarter ended December 2023. The housing finance subsidiary of LIC had earned a net profit of Rs 480 crore in the same quarter a year ago. Its total income increased to Rs 6,792 crore during the quarter under review against Rs 5,876 crore in the same period last year, LIC Housing Finance said in a regulatory filing. The interest income of the company rose to Rs 6,744 crore as against Rs 5,839 crore in the third quarter of the previous year. During the quarter ended December 31, 2023, the company has made a provision of Rs 50.32 crore in respect of Investment in Alternate Investment Funds (AIFs) pursuant to a Reserve Bank of India circular dated December 19, 2023. However, the company's Capital Adequacy Ratio improved to 19.77 per cent as against 17.74 per cent at the end of December 2022.

LIC Housing Finance Q2 results: Net PAT more than triples to Rs 1,188 cr

LIC Housing's net interest income jumped 83% to Rs 2,107 crore in the quarter

Would like to see 10-12% of funding met by public deposits: CEO, LIC HF

Most of our funding, around 52-53%, is through NCD issues, says Adhikari

RBI releases list of 15 NBFCs in upper layer under scale based regulations

All deposit-taking NBFCs and non-deposit-taking NBFCs with an asset size over Rs 1,000 crore are in the middle layer

RBI releases list of NBFCs in upper layer under scale-based regulations

In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years

LIC Housing Finance to aggressively use OTS, ARC for loan recoveries

The company had written off Rs 544.71 crore during FY23, in comparison to just Rs 23.03 crore written off in the previous year

Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL

Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24

LIC HFC Q1 net profit rises 43% YoY at Rs 1,323.6 crore; NII up 39%

Net interest income sees an increase of 39 per cent, despite disbursements markedly declining in Q1 FY24

LIC Housing Finance plans to raise Rs 1,250 crore through bond sale

The debt market experienced a notable decline in issuances during July as issuers chose to take a back seat in response to the escalating cost of borrowing

LIC Housing Finance tanks 7% day after reporting Q4 results

The company reported 5.5 per cent growth in Q4 net at Rs 1,180 crore, backed by a 20.8 per cent surge in total income.