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LIC HOUSING FIN REGISTERS 38% RISE IN NET PROFIT

Article Abstract:

For the year ended March 31, 1998, LIC Housing Finance recorded a growth of 38.41 percent in net profit to Rs87.83 crore (Rs63.68 crore in 1996-97) and 18.55 percent rise in sales to Rs485.19 crore (Rs409.26 crore). The company recommended a dividend of 25 percent (20 percent) during the year and its earnings per share stood at Rs11.69 (Rs8.44). The outstanding mortgage portfolio rose by 18.15 percent to Rs3077.64 crore and the total sanctions stood at Rs3077.64 crore. The company sanctioned individual loans amounting to Rs837.73 crore. Its total disbursements during the year amounted to Rs769.31 crore under 36,406 cases, recording a growth of 15.09 percent. The gross non-performing asset (NPA) level of LIC Housing increased from 4.54 percent to 4.59 percent of the loan portfolio, but the net NPA level declined from 3.66 percent to 3.62 percent in 1997-98. In 1998-99, the company plans to sanction over 40,000 individual loans for Rs955 crore and disburse over 37,000 loans for Rs880 crore. (gsh)

Comment:

Posts net profit of Rs87.83 crore and sales of Rs485.19 crore in 1998

Article, LIC Housing Finance

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A REPORT CARD ON HOUSING FINANCE: LIC HOUSING FINANCE LIMITED

Article Abstract:

LIC Housing Finance Limited (LICHF) of Life Insurance Corporation of India is mainly involved in financing the housing sector in India. For 1997-98, it has declared 25 percent dividend (7.5 percent in 1990-91). The number of dwelling units financed by the company (cumulated figure) were 319,458 during 1997-98. It has provided loans for 272,852 individuals. It has projected to provide loans for 46,606 individuals. It has sanctioned a total amount of Rs4,895.01 crore of loans. Total amount disbursed by the company were at Rs4084.18 crore. LICHF has a market share of 21 percent in housing finance while HDFC has 54 percent followed by other housing finance companies with 25 percent. (gs)

Consumer Loans, Personal loans, Life Insurance Corporation of India

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LIC HOUSING RECORDS HIGHER PROFIT IN H1

Article Abstract:

The net profit of LIC Housing Finance Ltd has increased by 17.19 percent to Rs36.81 crore in the first half of 1998-99 (Rs31.41 crore in the first half of 1997-98). Its income increased by 16.45 percent to Rs257.74 crore (Rs221.33 crore). Sanctions are estimated at Rs528.62 crore and disbursements at Rs452.45 crore. As on September 30, 1998, its cumulative sanctions were at Rs5,423.63 crore and disbursements were at Rs4,563.63 crore. (gs)

LIC Housing Finance Ltd.

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