Conference Call with LIC Housing Finance Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Housing Finance company LIC Housing Finance announced Q1FY25 results: Total disbursements were at Rs 12,915 crore in Q1FY25, as against Rs 10,856 crore for the corresponding period in FY 2024, up by 19%. Out of this, disbursements in the Individual Home Loan segment were at Rs 10,932 crore against Rs 9,419 crore in Q1FY24, up by 16%, whereas Project loans were at Rs 521 crore compared with Rs 251 crore in Q1FY24, up by 108%. The company's revenue from operations grew to Rs 6,783.67 crore as against Rs 6,746.51 crore in Q1FY24. Net Interest Income (NII) stood at Rs 1,989.08 crore, as against Rs 2,209.44 crore for the same period the previous year. Net Interest Margin (NIM) for the quarter stood at 2.76% as against 3.21% for Q1 FY 2024 and 3.15% for Q4 FY 2024. Profit Before Tax for the quarter was Rs 1,628.43 crore as against Rs 1,648.99 crore in Q1FY24. As compared to Q4 FY24, there is an increase of 10%. Net Profit After Tax stood at Rs 1,300.21 crore compared with Rs 1,323.66 crore during the same period in the previous year, however sequentially it has increased by 19%. The Individual Home Loan portfolio stood at Rs 2,46,275 crore as on June 30, 2024, as against Rs 2,31,087 crore as on June 30, 2023, up by 7%. The Project loan portfolio stood at Rs 8,099 crore as on June 30, 2024, as against Rs 11,321 crore as on June 30, 2023. The total outstanding portfolio grew by 4% to Rs 2,88,665 crore from Rs 2,76,440 crore in the earlier year. As per the same methodology, the provisions for ECL stood at Rs 5,670.07 crore as on June 30, 2024, as against Rs 7,590.68 crore as on June 30, 2023. The Stage 3 Exposure at Default as of June 30, 2024, stood at 3.30% against 4.96% as of June 30, 2023. Speaking of the performance,Tribhuwan Adhikari, Managing Director & Chief Executive Officer of LIC Housing Finance said, "Following the technology upgrades and organizational restructuring, we are now fully equipped to aim for faster growth especially in individual housing loan segment. The recent Union Budget has given a positive impetus to our sector with its continued focus on infrastructure development and affordable housing. It is expected to significantly enhance housing demand and foster socio-economic growth. In the current financial year, we also anticipate a gradual downtrend in interest rates, which will further accelerate demand in the sector." Result PDF