LIC HFL Q3 FY 2018 Profit after tax Rs 491.07 cr
Q3 FY18 Individual Home Loan Disbursements up 38%
Outstanding loan portfolio at Rs 156176 crores, up by 15%
Net Interest Income Rs 898 crores
Revenue from operations up 6% to Rs 3738 crores
Net Interest Margins at 2.33%
Individual loan Gross NPAs at 0.47%

Mumbai, January 25, 2018: The Board of Directors of LIC Housing Finance announced its un-audited results for the third quarter ended on December 31, 2017, following its approval by the Board of Directors in a meeting held in Mumbai on January 25, 2018.

Performance Highlights – Q3 FY 2018

(Figures in Rs. crores)

(1 crore =10 million)

During the quarter, disbursements in the individual loan category recorded a growth of 32% from Rs 8555 crores to Rs 11324 crores. Out of that, disbursements in the individual home loan segment clocked a 38% growth from Rs 6670 cr to Rs 9177 cr. The total disbursements including developer loan disbursements was Rs 12301 crores as against Rs 9684 crores for Q3 FY17, a growth of 27%.

The company's total income for Q3 FY18 was Rs 3768 crores as against Rs 3549 crores during the same period previous year, a growth of 6%. Revenue from operations grew 6% from Rs 3528 crores to Rs 3738 crores. Net interest income was Rs 898 crores, as against Rs 915 cr for the same period last year.

Profit before tax for the quarter was Rs 756.59 crores, as against Rs 765.60 cr for the same period in the previous year. Net profit after tax for the Q3 FY18 was Rs 491.07 crores as compared to Rs 499.26 crores in the corresponding period previous year.

The Individual loan portfolio stood at Rs 149986 crores as against Rs 130878 crores, a growth of 15%. Developer loan portfolio stood at Rs 6189 crores as on December 31, 2017 as against Rs 4488 crores as on December 31, 2016, a growth of 38%.

Total Gross NPAs for the company including NPAs on developer loans was 0.87% as on December 31, 2017 as against 0.56 % as on December 31, 2016. Gross NPAs in individual segment was 0.47% as on December 31, 2017 as against 0.32% as on December 31, 2016.

Net NPAs stood at 0.49% as on December 31, 2017 as against 0.27 % as on December 31, 2016.

Total provision including general provision on standard loans is Rs 1227 crores as on December 31, 2017 against Gross NPAs of Rs 1360 crores on the same date.

Net interest margins for the Q3 FY18 stood at 2.33% as against 2.75% for Q3 FY17.

Performance Highlights – 9 months FY18

(Figures in Rs. crores)

(1 crore =10 million)

During the nine months ended December 31, 2017, the the total disbursements for the Company stood at Rs 31976 crores as against Rs 26349 crores for the same period of the previous year registering a growth of 21%. During the period, disbursements in the individual loan category was Rs 29976 crores against Rs 24374 crores a growth of 23%.

The company's total income for nine months ended December 31, 2017 was Rs 11139 crores as against Rs 10418 crores during the same period previous year, a growth of 7%. Revenue from operations grew 7% to Rs 11059 crores from Rs 10344 crores.

Net Interest Income (NII) for nine months ended December 31, 2017 up by 4% to Rs 2698 crores from Rs 2606 crores during the same period previous year.

Net profit before tax (PBT) for nine months ended December 31, 2017 was Rs 2223.13 crores as against Rs 2149.67 crores during the same period previous year, a growth of 3%.

Net profit after tax for the nine months ended December 31, 2017 was Rs 1450.26 crores as against Rs 1401.86 crores during the same period previous year, a growth of 3%.

Net interest margins (NIM) for nine months ended December 31, 2017 stood at 2.39% as against 2.67 % for the corresponding period ended December 31, 2016.

Speaking on the Q3 FY18 performance, MD & CEO, LIC Housing Finance, Mr. Vinay Sah said, “Business growth has been robust across all categories, especially in the home loan segment. We expect the momentum to continue in the Q4 to conclude the financial year.”

About LIC Housing Finance Ltd

LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of offices across the country and representative offices at Dubai & 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 with regard to the ability to service interest and repay principal.

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