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Press Releases September,2013

LIC Housing Finance Q2 FY14 Net Profit Rs 310.07 cr, up by 28%
Income from operations up 22% to Rs. 2247 crore,
Individual Loan portfolio at Rs.80704 crore, up by 21%,
Individual Loan Gross NPAs down from 0.61 % to 0.46%

Mumbai, October 30, 2013: The Board of Directors of LIC Housing Finance announced its un-audited results for the second quarter ended on September 30, 2013 following its approval by the Board of Directors in a meeting held in Mumbai on October 30, 2013.

Performance Highlights-Q2 FY 2014

(Figures in Rs. crores)

  Quarter Ended September 2013 Quarter Ended September 2012 Variation
Income from operations 2247 1840 Up by 22 %
Net Interest Income 453 354 Up by 28%
Profit before Tax 423.66 332.43 Up by 27%
Profit after Tax 310.07 243.06 Up by 28%
Outstanding Loan Portfolio 83216 69119 Up by 20%
Individual Loans Gross NPA 0.46% 0.61%  

1 crore = 10 million

For the quarter ended September 30, 2013, the company recorded a total income of Rs.2302 crore as against Rs.1862 crore during the same period last year, a growth of 24%. Income from operations was Rs. 2247 crore as against Rs.1840 crore, a growth of 22%.

Net profit for Q2 was Rs.310.07 crore as compared to Rs.243.06 crore in the corresponding period last year, a growth of 28%.

During the quarter, the company disbursed a total of Rs.5947 crore as against Rs.5838 crore for the same period last year. Disbursements in the developer loan segment were Rs 265 crore as against Rs. 121 crore for the same period last year.

The Net Interest Income for the quarter was Rs. 453 crore as against Rs.354 crore for the same period last year, a growth of 28%. Net Interest Margins for the Q2 stood at 2.22% against 2.10% for the quarter ended September 30, 2012.

The Outstanding Mortgage Portfolio as on September 30, 2013 was Rs.83216 crore as against Rs.69119 crore on September 30, 2012, thus registering a growth of 20%. The Individual loan portfolio stood at Rs 80704 crore as against Rs 66458 crore, a growth of 21%. The Developer loan portfolio stood at Rs.2512 crore as on September 30, 2013 as against Rs.2660 crore as on September 30, 2012.

Gross NPAs in individual segment was Rs 374 cr or 0.46% as on September 30, 2013 as against Rs 406 cr or 0.61% as on September 30, 2012. Total Gross NPAs for the Company including NPAs on Developer Loans stood at 0.73% as on September 30, 2013 as against 0.60% as on September 30, 2012. NPAs on Developers Loans was Rs. 236 cr as on September 30, 2013 as against Rs 246 cr as on June 30, 2013.

Net NPAs stood at 0.44% as on September 30, 2013 as against 0.28% as on September 30, 2012. Total provision including general provision on standard loans is Rs.734 crore as on September 30, 2013.


 
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