OREANDA-NEWS. April 29, 2011. LIC Housing Finance announced its audited results for the year ended March 2011, following its approval by the Board of Directors in a meeting held in Mumbai, reported the press-centre of LIC Housing Finance.     

During the Q4 FY11 in the individual loan category, the Company sanctioned and disbursed loans totaling Rs 5578 cr, & Rs 6461 cr, registering a growth of 37% & 71% respectively over the fourth quarter of the previous year. The total loan sanctions & disbursements were Rs 5803    cr & Rs 6794 cr, registering growth of 25 % & 34%.
 
The Company's total Income for the fourth quarter ended March 2011 was Rs.1392 crores as against Rs.968 crores during the same period last year, a growth of 44%. The total income for the fourth quarter ended March 2011 included Rs 32 cr as income from sale of investments.
 
Net profit for the Q4 was Rs. 314.77 crores as compared to Rs.213.51 crores in the corresponding period last year, thus showing a growth of 47%. Net Interest Margins for the Q4 FY11 stood at 3.45% as against 3.30% for Q4FY10.
During the year ended March 2011, the Company sanctioned and disbursed loans totaling Rs 22603 crores, & Rs 19912 cr, registering a growth of 25% & 34% respectively over the previous year. Out of the total, Individual loan sanctions & disbursements were Rs  20227 cr & Rs 17512   cr, registering growth of 43 % & 41%.
 
For the year ended March 2011, the Company's total Income was Rs.4869 crores as against Rs.3469 crores during the same period last year, a growth of 40%. Net profit during this period was Rs.974.49 crores as compared to Rs.662.18 crores in the corresponding period last year, a growth of 47%. The total income included Rs.168.81cr as income from sale of investments.
 
The Outstanding Mortgage Portfolio as on March 31, 2011 was Rs.51090 crores as against Rs.38081 crores on March 31, 2010, thus registering a growth of 34%.
 
The Gross NPAs of the Company stood at Rs 242 cr or 0.47% on March 31, 2011 as against Rs 263 cr or 0.69% as on March 31, 2010. Net NPAs were Rs 15 cr or 0.03% as against Rs 46 cr or 0.12% for the corresponding dates.
 
The Net Interest Margins for the whole year stood at 3.08% as against 2.70% for the previous year.
 
The Board of Directors have recommended dividend of 175 %.
 
LIC Housing Finance, Director & Chief Executive, Mr. V. K. Sharma, said “The Company has completed another year of steady performance and is set to move into the next level of growth”
 
About the Company:
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of 205 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 with regard to the ability to service interest and repay principal.