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Nine month Loan sanction up 20%. Mumbai, January 24, 2006: LIC Housing Finance announced its un-audited results for the third quarter ended December 2005, following its approval by the Board of Directors in a meeting held in Mumbai on January 24, 2006. Highlights
Performance Details: For the quarter ended December 2005, the Company sanctioned Rs. 1361 crores and disbursed Rs. 1215 crores in the individual loan category, registering a growth of 13% and 10% respectively. Net profit for the Q3 was Rs. 58.65 crores as compared to Rs. 42.00 crores in the corresponding period last year, thus showing a growth of 40%. The Company's total Income for the third quarter ended December 2005 was Rs. 318.06 crores as against Rs. 268.42 crores during the same period last year, a growth of 19%. For the nine months ended December 2005 the Company sanctioned Rs. 3679 crores and disbursed Rs. 3323 crores under the individual loan category, a growth of 20% and 14% respectively. The total sanctions and disbursals inclusive of individual and project loans for the nine months ended December 2005 stood at Rs. 3702 crores and Rs. 3483 crores respectively. For the nine months ended December 2005, the Company's total Income was Rs. 914.43 crores as against Rs.773.70 crores during the same period last year. Net profit during this period was Rs. 167.19 crores as compared to Rs. 129.55 crores in the corresponding period last year, a growth of 29%. The Outstanding Mortgage Portfolio as on December 31, 2005 was Rs.14194 crores as against Rs. 11539 crores on December 31, 2004, thus registering a growth of 23%. The Gross NPA of the Company under the new 90-day NPA recognition norms stands at 4.69% and the Net NPA stands at 3.10 % as on December 31, 2005. LIC Housing Finance Director & Chief Executive, Mr. S. K. Mitter, said " Business growth continues to be buoyant and is likely to improve further in the coming months. The loan book growth at around 23% is also positive. " About the Company: LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest marketing networks of 115 offices across the country and a representative capital office in the UAE at Dubai. 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 . Click here to see Detailed Financial Results For further information please contact:
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