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Highlights
(Rs. in Crores) Mumbai, July 28, 2004: The Board of Directors of LIC Housing Finance announced its un-audited results for the first quarter ended June 2004, following its approval by the Board of Directors in a meeting held in Mumbai on July 28, 2004 . Performance Details : The company recorded a healthy growth in business during the first quarter ended June 2004. Under Individual Loans, the Company sanctioned Rs. 920 crores and disbursed Rs. 887 crores. The total sanctions inclusive of Project loans amounted to Rs. 967 crores and disbursements to Rs. 931 crores. The Outstanding Mortgage Portfolio as on June 30, 2004 was Rs.10222 crores. The Company's Total Income for the first quarter ended June 2004 was Rs.248 crores as against Rs.233 crores during the same period last year. The Net profit during Q1 was Rs 41.87 crores as compared to Rs 33.95 crores in the corresponding period last year, thus showing a growth of 23%. LIC Housing Finance Director and Chief Executive, Mr. A.K. Dasgupta, said, " During the first quarter of the fiscal , the Company registered a healthy growth in business. The Company has also maintained its spreads which is adequately displayed by the fact that the Net Profits grew strongly in line with the growth in portfolio. The Company is positioned to consolidate on its business and profitability growth in the subsequent quarters" About the Company: LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest marketing network of 113 offices across the country. It was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994. The company enjoys 'AAA' rating from CRISIL and CARE indicating highest safety with regard to the ability to service interest and repay capital. Click here to see Detailed Financial Results For further information please contact:
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