OREANDA-NEWS. May 03, 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 on April 28, 2011.

Performance Highlights – 4Q FY 2011      

 (Figures in Rs. crores)

 

Quarter

 Ended

 March 2011

Quarter

 Ended

 March 2010

 

Variation

Individual Loan Sanctions

 

5578

 

4074

 

Up by 37%

Individual Loan Disbursements

 

6461

 

3786

Up by 71%

Interest Income on Housing Loans

1294

919

Up by 41%

Net Interest Income

420

298

Up by 41%

Total Income including other income

1392

968

Up by 44%

Net Interest Margins

3.45%

3.30%

 

Profit before tax

429.51

298.18

Up by 44%

Net Profit after Tax

314.77

213.51

Up by 47 %

1 crore =10 million

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.

Performance Highlights –FY 2011

(Figures in Rs. crores)

 

Year ended March 2011

 

Year ended

March 2010

Variation

Individual Loan Sanctions

20227

14151

Up by 43%

Individual Loan Disbursements

17512

12448

Up by 41%

Interest Income on Housing Loans

4470

3283

Up by 36%

Net Interest Income

1372

887

Up by 55%

Total Income including other income

4869

3469

Up by 40%

Net Interest Margins

3.08%

2.70%

 

Profit before tax

1294.16

911.27

Up by 42%

Net Profit after Tax

974.49

662.18

Up by 47%

Dividend

175%

150%

 

Gross NPA

242

263

 

Gross NPA%

0.47%

0.69%

 

Net NPA

15

46

 

Net NPA%

0.03%

0.12%

 

Outstanding Mortgage Portfolio

51090

38081

Up by 34%

EPS (Rs 2 paid-up)

20.53

14.69

 

1 crore =10 million

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”.