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Press Release Q4 FY21

LIC Housing Finance Ltd announces its Q4 FY2021 results

Q4 Net Profit After Tax at Rs. 398.92 cr
Q4 Net Interest Income Rs. 1505 cr up by 33 %

FY21 Revenue from Operations is Rs. 19847 cr
Outstanding loan portfolio at Rs. 232003 cr, is up by 10%
The Board proposes a dividend of 425 %


Mumbai, June 15, 2021: LIC Housing Finance Ltd. announces its audited financial results for the fourth quarter ended March 31, 2021, following its approval by the Board of Directors in a meeting held in Mumbai today.

The results are in accordance with the Indian Accounting Standards i.e., IndAS notifications issued by the Ministry of Corporate Affairs and National Housing Bank in April 2018.

Performance highlights at a glance – Q4 FY2021


(Figures in Rs. crore)

  Quarter Ended March 2021 Quarter Ended March 2020 Variation (%)
Revenue from operations 4968 4920 1%
Net Interest Income 1505 1134 33%
Net Profit after tax 398.92 421.43 -5%
Outstanding Loan Portfolio 232003 210578 10%

(1 crore =10 million)

Performance highlights for the quarter ended March 31, 2021              

Total disbursements were at Rs. 22362 cr in Q4 FY2021, up 97 % against Rs 11323 cr for the corresponding period in FY2020. Out of this, disbursements in Individual Home Loan segment at Rs. 19010 cr were up 114 % from Rs 8877 cr in Q4 FY2020, whereas Project loans were at Rs. 1197 cr compared with Rs 411 cr in Q4 FY2020.

The company's Revenue from operations grew to Rs. 4968 cr as against Rs. 4920 cr in Q4 FY2020.

Net Interest Income (NII) rose by 33 % to Rs. 1505 cr, as against Rs 1134 cr for the same period the previous year. Net Interest Margin for the quarter stood at 2.66 % as against 2.17 % for Q4 FY 2020.

Profit Before Tax for the quarter Rs. 352.00 cr as against Rs 826.72 cr in Q4 FY2020.

Net Profit After Tax stood at Rs. 398.92 cr compared with Rs 421.43 cr during the same period in the previous year.

The Individual loan portfolio stood at Rs. 216047 cr as on March 31, 2021, against Rs 196340 cr as at the previous fiscal end, a growth of 10 %. The Project loan portfolio stood at Rs. 15956 cr as on March 31, 2021 as against Rs 14237 cr as on March 31, 2020. The total outstanding portfolio grew at 10 % to Rs. 232003 cr from Rs 210578 cr.

Under IndAS 16, asset classification and provisioning changes for future credit loss are reported on Expected Credit Loss (ECL) basis.

As per the same methodology, the provisions for ECL stood at Rs. 3971.42 cr as on March 31, 2021, as against Rs 2612.39 cr as on March 31, 2020. The Stage 3 Exposure at Default as on March 31, 2021 stood at 4.12 % against 2.86% as on March 31, 2020.

Performance highlights at a glance - FY2021

(Figures in Rs. Crore)

   Year Ended March 31, 2021  Year Ended March 31, 2020 Variation (%)
Revenue from operations 19847 19697 1%
Net Interest Income 5245 4821 9%
Profit before tax 3348.57 3268.99 2%
Net Profit after tax 2734.34 2401.84 14%
EPS (Share of Rs 2 Face Value) 54.18 47.59 14%

(1 crore =10 million)

Performance highlights for the year ended March 31, 2021.

For the year ended March 31, 2021, total disbursements stood at Rs. 55223 cr against Rs. 46936 cr for the same period of the previous year, recording a growth of 18%. Out of this, individual home loan segment registered disbursements of Rs. 46927 cr, as against Rs 37539 cr for the same period of the previous year, a growth of 25%; whereas total disbursements under project loans stood at Rs. 3011 cr as against Rs 2618 cr for the previous fiscal.

The company’s Revenue from operations stood at Rs. 19847 cr as against Rs 19697 cr for the year ended March 31, 2020.

Net Interest Income (NII) for 12 months was up by 9 % to Rs. 5245 cr from Rs 4821 cr during the previous year.

Profit Before Tax (PBT) for FY2021 was at Rs. 3348.57 cr against Rs 3268.99 cr during the previous year.

Net Profit After Tax for the year ended March 31, 2021 was Rs. 2734.34 cr as against Rs 2401.84 cr during the same period in the previous year, a growth of 14%.

Net Interest Margin (NIM) for FY2021 stood at 2.37 % as against 2.38% for the previous year.

Earnings Per Share (EPS) for the full year, FY2021 was at Rs 54.18 per share (Share of Rs 2 Face Value) as against Rs 47.59 in FY2020.

The Board of Directors has recommended a dividend of 425 %.

Impact of Covid-19

Since the World Health Organization (WHO) announced the Novel Coronavirus (COVID-19) as a pandemic on 11th March 2020, it has been causing severe disruption in the social and economic activities across the world, and India is no exception. To break the chain of its spread, in India too, the government had to impose several curbs on social and economic activities through lockdowns from time to time, hampering production in several geographies, resulting in output and revenue losses for companies, and job and income losses for individuals. During Q4 FY21, there was a renewed hope and enthusiasm with the severity of the pandemic tapering to a great extent and leading to a semblance of revival in economic activity and buyer demand for real estate, however with the emergence of the more severe Second Wave of the pandemic, the situation continues to remain uncertain. The economic revival in 2021-22, inter alia, hinges on progress in vaccination, ramping up health infrastructure, reduction in lockdowns and resumption of normal economic activity.

Speaking on the performance, LIC HFL MD & CEO Y. Viswanatha Gowd: “Despite economic slowdown witnessed in the first two quarters and intermittent pandemic-induced lockdowns and restrictions in various geographies, our disbursements have been strong during the fourth quarter of FY21. We have made strides in growth in various segments of home loan. RBI initiatives like easing of liquidity pressures in the economy from time to time and keeping the interest rate stable ,which in effect keep home buying an attractive proposition even during these challenging times, have also contributed to this positive performance. There has been an increase in delinquency levels during the Q4 FY 21, mostly arising out of pandemic impact on corporate entities and individuals. This is being monitored very stringently, since it is a matter of highest priority and we are confident of addressing it properly.”


About LIC Housing Finance Ltd

LIC Housing Finance Ltd is one of the largest housing finance companies in India. It has one of the widest networks of offices across the country and representative offices at Dubai and Kuwait. In addition, the Company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd 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 the highest rating from CRISIL &CARE indicating highest safety regarding ability to service interest and repay principal.

For further information please visit the website www.lichousing.com or contact:

Mr. Y. Viswanatha Gowd
Managing Director & CEO
LIC Housing Finance Ltd.
Tel: 022-22178602
Mansi Sheth / Neha Sharma
Veritas Reputation PR
Tel: 9870631556 / 9664372349


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