LIC Housing Finance Ltd Q3 FY15 Profit Before Tax Rs 521.51 crores up by 14% Q3 FY15 Loan

Disbursements up 25% Individual Loan Portfolio up 19% at Rs 99362 cr Total Loan portfolio at Rs 101944cr Gross NPAs down to 0.57%

The Board of Directors of LIC Housing Finance announced its un-audited results for the third quarter ended on December 31,2014,following its approval by the Board of Directors in a meeting held in Mumbai today

Performance Highlights–Q3 FY15

During the Q3FY2015, the company disbursed loans of Rs. 7632 crore against Rs 6130 cr a growth of 25% over the corresponding quarter of the previous year. Individual Loan disbursements was Rs 7184 cr, a growth of 23%, while disbursements in the developer loan segment was Rs 448 cr, a growth of 51%.

The company’s total income for Q3FY15was Rs 2736 crore as against Rs 2376 crore during the same period previous year, a growth of 15%.Income from operations grew 15% to Rs 2700 crore from Rs 2343 crore.

NII for the quarter ended December 31, 2014 was up by 20% to Rs549 crore from Rs 458 crore during the same period previous year.

PBT for the quarter was Rs 521.51croreas against Rs 456.25 crore during the same period previous year, a growth of 14%.

The company’s total income for Q3FY15was Rs 2736 crore as against Rs 2376 crore during the same period previous year, a growth of 15%.Income from operations grew 15% to Rs 2700 crore from Rs 2343 crore.

NII for the quarter ended December 31, 2014 was up by 20% to Rs549 crore from Rs 458 crore during the same period previous year.
PBT for the quarter was Rs 521.51croreas against Rs 456.25 crore during the same period previous year, a growth of 14%.

During the quarter, the company has provided Rs 34 crore 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 crore, the Net Profit for the quarter stood at Rs 344.35 crore as against Rs 326.59 crore for the corresponding period last year, a growth of 5%.

NIM for the Q3FY15 stood at 2.20% as against 2.16% for Q3FY14.

The outstanding mortgage portfolio as on December 31,2014 was Rs101944 crore as against Rs 86422 crore as on December 31,2013, thus registering a growth of 18%. The Individual loan portfolio stood at Rs 99362 crore as against Rs 83839 crore on the corresponding dates, a growth of 19%. Developer loan portfolio stood at Rs 2582 crore as against the same figure on the corresponding date in the previous year.

Performance Highlights – 9 months FY15                                              

(Figures in Rs. crores) 

During the nine months ending on FY2015, the company disbursed loans of Rs. 20389 crore against Rs17203 cr in the individual loan segment, a growth of 19% over the corresponding period of the previous year. Individual Loan disbursements was Rs19706 cr, a growth of 19%, while disbursements in the developer loan segment was Rs 683cr, a growth of 10%.

For the nine months ended December 31, 2014, the company recorded a total income of Rs.7938 crore as against Rs.6857 crore during the same period last year, a growth of 16%. Income from operations was Rs. 7837 crore as against Rs.6738 crore, a growth of 16%.

Net profit for the nine months ended December 31, 2014 after providing for Rs 100.33 cr as Deferred Tax Liability on Special Reservewas Rs.1008.01crore as compared to Rs.947.16 crore in the corresponding period last year a growth of 6%.

The Net Interest Income for the nine months ended December 31, 2014 was Rs. 1587 crore as against Rs.1366 crore for the same period last year, a growth of 16%. Net Interest Margin for the nine months ended December 31, 2014 stood at 2.19 % as against 2.22% for the corresponding period ended December 31, 2013.

Gross NPAs as on December 31,2014 including NPAs on developer loans was 0.57% as against 0.81% as on December 31, 2013. Gross NPAs in the individual loan segment as on December 31,2014 was down to 0.33% as against 0.40% as on December 31, 2013.

Net NPAs as on December 31, 2014 stood at 0.31% as against 0.51% as on December 31, 2013.

Total provision including general provision on standard loans as on December 31, 2014 was Rs 683 crore as against Gross NPAs of Rs 580 crore as on the same date.

Commenting on the performance, Ms. Sunita Sharma, MD & CEO, LIC Housing Finance said “LIC HFL’s business performance has witnessed a healthy growth and has crossed Rs 1lakh crore in loan books. The company has been a consistent performer and provides value-based service to its customers.”

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