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(1 crore = 10 million)
Mumbai, July 21, 2008: The Board of Directors of LIC Housing Finance announced its un-audited results for the first quarter ended on 30th June 2008, following its approval by the Board of Directors in a meeting held in Mumbai on July 21, 2008.
Performance Details:
Ø The company recorded a growth of 55% in Loan sanctions & 24% in loan disbursements during the first quarter ended June 2008.
Ø Outstanding Mortgage Portfolio as on June 30, 2008 was Rs. 22757 crores as against Rs. 18185 crores as on June 30, 2007, showing a growth of over 25%.
Ø The Company's total Interest Income from housing loans for the quarter ended June 2008 was Rs. 593 crores as against Rs.442 crores in the corresponding quarter last year, registering growth of 34 %. Interest expenses of the Company for the period were Rs. 443 crores as compared to Rs.338 crores in the Q1 last year, a growth of 31%.
Ø Net Profit of the Company for quarter ended June 2008 was Rs. 104.66 crores as against Rs. 46.69 crores in the quarter ended June 2007, a rise of 124%.
Ø The Net Interest margins of the Company for the quarter ended June 2008 stood at 2.7% as against 2.3% for the quarter ended June 2007.
Ø The Gross NPAs & the Net NPAs of the Company as on 30 June 2008 stood at 2.22 % & 1.15 % as against 4.06% and 2.58% for the corresponding period of last year.
Business Initiatives
Ø LICHFL Care Homes Ltd:
LICHFL Care Homes Ltd., a wholly owned subsidiary of LIC Housing Finance Ltd., inaugurated its first Assisted Living Community Centre for Senior Citizens at Bangalore in March 2006. The second project is coming up at Bhuvaneswar.
LIC Housing Finance Director and Chief Executive, Mr. R.R.Nair, said, “During the quarter under review, the Company has achieved a healthy growth rate in disbursements and profitability. The Company expects to continue the growth trend and consolidate its position in the market in the coming quarters.”
About the Company:
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of 127 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 | 
