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LIC HFL Q4 FY19

LIC Housing Finance Q4FY2019 Net Profit grows 17% to Rs. 693.58 Cr.
Q4 Revenue from Operations up by 20% to 4655 Cr
Q4 Net Interest Income up 21% to 1201 Cr
Loan portfolio grows 16 % to Rs. 194646 Cr.
Q4 FY2019 Home Loan disbursements up by 18%.
Board proposes 380% dividend.

 

Mumbai, May 4, 2019: LIC Housing Finance announced its audited financial results for the year ended March 31, 2019, following its approval by the Board of Directors in a meeting held in Mumbai today.

Performance Highlights – Q4 FY 2019

(Figures in Rs. crores)

  Quarter Ended March 31, 2019 Quarter Ended March 31, 2018 Variation
Revenue from operations 4655 3888 20%
Net Interest Income 1201 989 21%
Profit before tax 986.24 813.62 21%
Net Profit after tax 693.58 594.34 17%
Outstanding Loan Portfolio 194646 167467 16%
Net Interest Margin 2.54% 2.44%  

(1 crore =10 million)

During the quarter ended March 31, 2019, total disbursements recorded a growth of 7 % from Rs 17402 crores to Rs 18649 crores. Out of that, disbursements in the individual home loan segment registered a 18 % growth from Rs 10541 crores to Rs 12448 crores, whereas total disbursements in project loans was Rs 2031 crores as against Rs 2266 crores for Q4 FY18.

The company's total Revenue from operations for Q4 FY19 grew 20% from Rs. 3888 crores to Rs. 4655 crores. Net Interest Income was Rs 1201 crores, as against Rs 989 cr for the same period in the previous year, showing a growth of 21%.

Profit before tax for the quarter was Rs. 986.24 crores as against Rs. 813.62 crores for the same period in the previous year, marking a growth of 21 %. Net profit after tax stood at Rs. 693.58 crores as compared to Rs. 594.34 crores during the same period previous year, showing a growth of 17%.

The Total Outstanding Portfolio stood at Rs. 194646 Crores, a growth of 16 % over corresponding period of last year. The Individual loan portfolio stood at Rs 181569 crores as against Rs 159350 crores, a growth of 14%. Developer loan portfolio stood at Rs. 13077 crores as on March 31, 2019 as against Rs 8116 crores as on March 31, 2018.

Total Gross NPAs for the company including NPAs on developer loans was 1.53% as on March 31, 2019 as against 0.78% as on March 31, 2018. Gross NPAs in individual segment was 1.14% as on March 31, 2019.Net NPAs stood at 1.07% as on March 31, 2019 as against 0.43 % as on March 31, 2018.

Net Interest Margins for Q4 FY19 stood at 2.54% as against 2.44 % for Q4FY18.

Performance Highlights – FY 2019

(Figures in Rs. crores)

  Year Ended March 31, 2019 Year Ended March 31, 2018 Variation
Revenue from operations 17362 14841 17%
Net Interest Income 4269 3522 21%
Net Profit before tax 3379.55 2765.5 22%
Net Profit after tax 2430.97 2002.50 21%
EPS (Rs 2/- paid-up) 48.16 39.68  

(1 crore =10 million)


During the year ended March 31, 2019, the total disbursements for the company stood at Rs 55315 crores as against Rs 49379 crores for the same period of the previous year, registering a growth of 12%. During the period, disbursements in the individual home loan category was Rs 37618 crores against Rs 34318 crores, a growth of 10%.

For the year ended March 31, 2019, the company's total Revenue from operations was Rs. 17362 crores as against Rs. 14841 crores during the previous year, a growth of 17 %. Net Interest Income (NII) for the year ended March 31, 2019 was Rs 4269 crores against Rs 3522 crores during the previous year, showing a growth of 21%

Net profit before Tax (PBT) for the year ended March 31, 2019 stood at Rs 3379.55 crores as against Rs 2765.50 crores during the same period previous year, registering a growth of 22%.

Net profit after tax stood at Rs 2430.97crores as against Rs. 2002.50 crores during the same period last year, marking a growth of 21%.

Net Interest Margins for the year ended March 2019 was 2.36% as against 2.25% for FY 2018.

The board of directors have recommended a dividend of 380%

LIC Housing Finance, Managing Director & CEO, Mr. Vinay Sah said, “The Company has maintained its growth trajectory in the FY2019 despite severe challenges in the financial sector. All financial parameters continued to show improvement. The Company has witnessed growth coming in from different sectors across the country. We are confident of further improvement on all operational areas in FY2020. During the year, the company has done exceptionally well in the area of Affordable Housing wherein more than 45000 accounts were disbursed. This year we are opening 9 new marketing centres with a specific focus on Affordable Housing.”

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 about the ability to service interest and repay principal.

 

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

Mr. Vinay Sah

Managing Director & CEO

LIC Housing Finance Ltd.

Tel: 022-2217 8602

Mansi Sheth / Neha Sharma

Veritas Reputation PR

Tel: 9870631556 / 9664372349

 

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