- Revenue from operations up 18% to Rs. 2917 crore,

- Net Interest Income up 30% to Rs 659 cr

- Outstanding loan portfolio at Rs. 110411 crore, up by 18%,

- Individual loan Gross NPAs down from 0.40% to 0.36%

The Board of Directors of LIC Housing Finance announced its un-audited results for the first quarter ended on June 30, 2015, following its approval by the Board of Directors in a meeting held in Mumbai on July 20, 2015.

Performance Highlights – Q1FY16

(Figures in Rs. crores)

	Quarter Ended June 2015	Quarter Ended June 2014	Variation
Revenue from operations	2917	2483	18%
Total Income incl other income	2965	2544	17%
Net Interest Income	659	506	30%
Profit before tax	579	488	19%
Net profit after tax	382.13	322.31	19%
Outstanding Loan Portfolio	110411	93609	18%
Gross NPA %	0.60%	0.80%
Net NPA %	0.33%	0.49%

1 crore =10 million

The company's total income for Q1 FY16 was Rs. 2965 crores as against Rs.2544 crores during the same period previous year, a growth of 17%. Revenue from operations grew 18% from Rs. 2483 crores to Rs. 2917 crores. Net interest income was Rs. 659 crores, registering a growth of 30% over the same period last year. During the quarter, the Company disbursed loans of Rs. 6124 crores as against Rs. 5560 crores for Q1FY15.

Profit before tax for the quarter was Rs.579.02 crores a growth of 19% over the same period in the previous year. Net profit after tax for the Q1 FY16 was Rs. 382.13 crores as compared to Rs.322.31 crores in the corresponding period previous year, thus showing a growth of 19%.

During the quarter, the Company disbursed loans of Rs. 6124 crores as against Rs. 5560 crores for Q1FY15. The outstanding mortgage portfolio as on June 30, 2015 was Rs.110411 crores as against Rs.93609 crores on June 30, 2014, thus registering a growth of 18%. The Individual loan portfolio stood at Rs. 107704 crores as against Rs. 91058 crores, a growth of 18%. Developer loan portfolio stood at Rs.2708 crores as on June 30, 2015 as against Rs. 2551 crores as on June 30, 2014.

Total Gross NPAs for the company including NPAs on developer loans was Rs. 659 crores or 0.60% as on June 30, 2015 as against Rs. 753 crores or 0.80% as on June 30, 2014. Gross NPAs in individual segment 0.36% as on June 30, 2015 as against 0.40% as on June 30, 2014.

Net NPAs stood at 0.33% as on June 30, 2015 as against 0.49% as on June 30, 2014.

Total provision including general provision on standard loans is Rs.748 crores as on June 30, 2015 against Gross NPAs of Rs. 659 crores on the same date.

Net interest margins for the Q1 FY16 stood at 2.41% as against 2.19% for Q1 FY15.

Commenting on the performance, Ms. Sunita Sharma, MD & CEO, LIC Housing Finance said ‘The Company has delivered a sustained all-round growth. Despite a challenging environment, the Company recorded a healthy growth in loan portfolio coupled with a strong margin improvement. Asset quality continues to remain one of the best in its class with GNPAs coming down year on year. We have extended our footprints by adding 14 offices across the country. We look forward to maintaining a healthy growth with profitability in the coming quarters too.’

About LIC Housing Finance Ltd:

LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of 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.

For further information please visit the website www.lichousing.com