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Mumbai, January 25, 2010: LIC Housing Finance Limited announced its unaudited results for the third quarter ended December 31, 2009, following its approval by the Board of Directors in a meeting held in Mumbai on January 25, 2010.
Performance Highlights
(Rupees in crores)
|
|
Quarter ended December 2009 |
|
Nine months ended
December 2009 |
|
|
Loan Sanctions |
4516 |
Up by 72% |
13414 |
Up by 83% |
|
Loan Disbursals |
3604 |
Up by 86% |
9791 |
Up by 75% |
|
Total Income (incl. other income) |
880 |
Up by 15% |
2501 |
Up by 19% |
|
Net Interest Income |
228 |
Up by 14% |
589 |
Up by 13% |
|
Profit Before Tax |
216.48 |
Up by 19% |
613.08 |
Up by 20% |
|
Net Profit |
153.58 |
Up by 14% |
448.66 |
Up by 20% |
|
Outstanding Mortgage Portfolio |
34166 |
Up by 35% |
(1 crore=10 million)
Performance Details:
The Company has recorded a strong growth in its business during the third quarter ended December 2009. The Company sanctioned Rs.4516 crores and disbursed Rs. 3604 crores of loans, registering a growth of
72% and 86% respectively. In the individual loan segment the Company sanctioned Rs. 2796 cr & disbursed Rs. 2995 cr, registering a growth of 82% & 90% respectively.
The Net profit for the third quarter was Rs. 153.58 crores as compared to Rs. 134.33 crores in the corresponding period last year, thus showing a growth of 14%. The Total Income of the Company excluding other income for the third quarter was Rs. 878 crores as against Rs. 765 crores during the same period last year, a growth of 15%.
For the nine months ended December 2009, the Company sanctioned Rs. 13414 crores and disbursed Rs. 9791 crores, an increase of 83 % and 75 % respectively. In the individual loan segment the Company sanctioned Rs. 10077 cr & disbursed Rs. 8662 cr, registering a growth of 95% & 78 % respectively.
For the nine months ended December 2009, the Company's total Income excluding other income was Rs. 2493 crores as against Rs.2090 crores during the same period last year, a growth of 19%. Net profit during this period was Rs. 448.66 crores as compared to Rs. 374.06 crores in the corresponding period last year, a growth of 20 %.
The Outstanding Mortgage Portfolio as on December 31, 2009 was Rs. 34166 crores as against Rs. 25335 crores on December 2008, thus registering a growth of 35 %.
The Gross Non Performing Assets of the Company was 1.44% as on December 2009 as against 1.69% as of December 2008. The Net NPAs of the Company was 0.77 % as of December 2009 as compared to 0.73% as of December 2008.
The Company recorded a Net Interest Margin of 2.76 % for the third quarter of FY - 2009-10 as against 2.44% in the second quarter of FY – 2009-10.
Mr. R. R. Nair, Director and Chief Executive, LIC Housing Finance Limited said “The Company continued on the strong business growth of the earlier quarters, with an equally robust portfolio growth, well above the industry averages. During the quarter, the Company was also able to improve on the spreads and Net Interest Margins.”
About the Company:
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of 158 marketing offices across the country and representative offices at Dubai & Kuwait. It was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004. The company enjoys ‘AAA’ rating from CRISIL indicating highest safety with regard to the ability to service interest and repay capital. The Fixed Deposits of the Company are rated FAAA/stable by CRISIL
Click here to see Detailed Financial Results
For further information please visit the website www.lichousing.com or contact:
Mr.R.R.Nair Mr. Hemant Batra
Director & Chief Executive Adfactors PR
LIC Housing Finance Ltd Tel: 2281 3565
Tel: 2285 4248 | 
