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Press Releases Q2 FY 14-15
LIC Housing Finance Ltd Q2FY15 Profit Before Tax Rs 517 crore up by 22%
Loan Disbursements up 21%
Individual Loan Portfolio up 18%
Gross NPAs down to 0.63%

Mumbai, October 18, 2014: The Board of Directors of LIC Housing Finance announced its un-audited results for the second quarter ended on September 30, 2014, following its approval by the Board of Directors in a meeting held in Mumbai today.

Performance Highlights – Q2FY15

(Figures in Rs. crores)

  Quarter Ended September 2014 Quarter Ended September 2013 Variation
Income from operations 2628 2247 17%
Total Income incl other income 2659 2302 15%
Net Interest Income 532 453 17%
Profit before tax 516.99 423.66 22%
Net profit after tax before adjustment of Deferred Tax Liability on Special Reserve 375.47 310.07 21%
Individual Loan Portfolio 95130 80704 18%
Gross NPA % 0.63% 0.73% 21%

(1 crore =10 million)

During the Q2 FY2015, the Company sanctioned loans of Rs. 8092 cr and disbursed loans of Rs. 7196 cr, a growth of 25% and 21% respectively over the corresponding quarter of the previous year.

The company's total income for Q2 FY15 was Rs 2659 crore as against Rs2302 crore during the same period previous year, a growth of 15%. Income from operations grew 17% to Rs 2628 crore from Rs 2247 crore.

NII for the quarter ended 30 September 2014 was up by 17% to Rs 532 crore from Rs 453 crore during the same period previous year.

PBT for the quarter was Rs 516.99 crore as against Rs 423.66 crore during the same period previous year, a growth of 22%.

During the quarter, the Company has provided Rs 34.12crore as Deferred Tax Liability on Special Reserves in accordance with the National Housing Bank circular Ref. NHB(ND)/DRS/Pol.Circular No 62/2014 dated 27.5.2014. After providing for the abovementioned Deferred Tax Liability of Rs 34.12 crore, the Net Profit for the quarter stood at Rs 341.35 crore as against Rs 310.07 crore for the corresponding period last year, a growth of 10%.

NIM for the Q2FY15 stood at 2.23% as against 2.22% for Q2FY14.

The outstanding mortgage portfolio as on 30 September, 2014 was Rs 97528 crore as against Rs 83216 crore as on 30 September 2013, thus registering a growth of 17%. The Individual loan portfolio stood at Rs 95130 crore as against Rs 80704 crore on the corresponding dates, a growth of 18%. Developer loan portfolio stood at Rs 2399 crore as against Rs 2512 crore on the corresponding dates.

Gross NPAs as on 30 September,2014 including NPAs on developer loans was 0.63% as against 0.73% as on 30 September, 2013. Gross NPAs in the individual loan segment as on 30 September 2014 was down to 0.38% as against 0.46% as on 30 September 2013. During the quarter, Gross NPAs in the developer loan segment reduced from Rs 388 cr as on 30 June 2014 to Rs. 252 Cr as on 30 September, 2014.

Net NPAs as on 30 September 2014 stood at 0.33% as against 0.44% as on 30 September 2013.

Total provision including general provision on standard loans as on 30 September 2014 was Rs 704 crore as against Gross NPAs of Rs 611 crore as on the same date.

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