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LIC Housing Finance reported a 22.75% increase in net consolidated profit, reaching INR 1,434.89 crore in Q3 FY25, compared to INR 1,169 crore in the same period last year. Total income rose by 3.91% to INR 7,069.99 crore. Key financial highlights include gross NPAs at 2.74%, net NPAs at 1.46%, and a liquidity coverage ratio of 187.66%. Total disbursements grew by 2% to INR 15,475 crore, with project loan disbursements surging by 162%. The total outstanding portfolio expanded by 6% to INR 2,99,144 crore.
LIC Housing Finance has recorded a 22.75% rise in its net consolidated profit for the third quarter of the financial year 2024-25. The company's profit after tax stood at INR 1,434.89 crore, compared to INR 1,169 crore in the corresponding quarter of the previous fiscal, as per a filing with the Bombay Stock Exchange (BSE). Advertisement
The company's net consolidated total income for the quarter was INR 7,069.99 crore, reflecting a 3.91% increase from INR 6,804.19 crore recorded in the same quarter of the previous year.
As of the quarter-end, the company?s net worth stood at INR 32,639.53 crore. Other financial metrics included a debt-equity ratio of 8.23, total debts to total assets at 0.88, an operating margin of 25.41%, a net profit margin of 20.296%, gross non-performing assets (NPA) at 2.74%, net NPA at 1.46%, and a liquidity coverage ratio of 187.66%.
Managing Director & CEO Tribhuwan Adhikari emphasised that the affordable housing sector remained a priority for the company. He also highlighted that the final quarter of the financial year is a crucial business period and anticipated closing the year with strong performance.
Total disbursements for Q3 FY25 stood at INR 15,475 crore, marking a 2% increase from INR 15,184 crore in the same period of FY24. While individual home loan disbursements declined to INR 12,248 crore from INR 12,868 crore, project loans surged significantly to INR 983 crore from INR 375 crore, representing a 162% rise.
The individual home loan portfolio reached INR 2,54,652 crore, up from INR 2,38,499 crore, reflecting a 7% growth. Similarly, the project loan portfolio stood at INR 8,776 crore, up from INR 8,569 crore, a 2% increase. The total outstanding portfolio expanded by 6% to INR 2,99,144 crore from INR 2,81,206 crore.
Provisions for Expected Credit Loss (ECL) stood at INR 4,974 crore as of December 2024, with a 48% coverage, compared to INR 6,890 crore in December 2023 and INR 5,458 crore in September 2024. The Stage 3 exposure at default reduced to 2.75%, down from 4.26% a year ago and 3.06% in the previous quarter.
For the nine months ending December 2024, total disbursements stood at INR 44,866 crore, reflecting a 10% increase from INR 40,705 crore in the same period the previous year. The individual home loan segment saw a 4% rise in disbursements, reaching INR 36,231 crore from INR 34,803 crore. Project loan disbursements surged to INR 2,901 crore from INR 1,059 crore, a significant increase.
LIC Housing Finance has demonstrated steady financial growth in Q3 FY25, driven by increased disbursements and a strong focus on the affordable housing segment. The reduction in NPAs and improved coverage ratios reflect stronger financial health. As the financial year nears its end, the company remains optimistic about closing with robust figures, particularly with potential government support in the upcoming budget.
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