Latest news with #LICHousingFinance
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Business Standard
15-05-2025
- Business
- Business Standard
LIC Housing Finance Q4 results: PAT rises 25% to ₹1,368 cr on higher income
Total income rose to Rs 7,283 crore in the March quarter of FY25, from Rs 6,937 crore in the corresponding quarter in FY24, LIC Housing Finance said in a regulatory filing Press Trust of India New Delhi LIC Housing Finance on Thursday reported a 25.4 per cent growth in net profit at Rs 1,368 crore in the fourth quarter ended March 2025. The company had a net profit of Rs 1,091 crore in the same quarter of 2023-24 fiscal. Total income rose to Rs 7,283 crore in the March quarter of FY25, from Rs 6,937 crore in the corresponding quarter in FY24, LIC Housing Finance said in a regulatory filing. In the 2024-25 fiscal, net profit rose 14 per cent to Rs 5,429 crore, from Rs 4,765 crore in FY24. Shares of LIC Housing Finance closed at Rs 624.90, up 1.31 per cent over previous close on BSE.
Time of India
15-05-2025
- Business
- Time of India
LIC Housing Finance Q4 Results: Profit rises 25% YoY to Rs 1,368 crore on lower provisions
LIC Housing Finance witnessed a 25% surge in Q4 net profit, reaching Rs 1368 crore, driven by reduced provisions for bad loans. While net interest margin (NIM) dipped to 2.86% year-on-year, it improved compared to the previous quarter. Total loan disbursement increased by 5% to Rs 19156 crore, with individual home loans contributing significantly. Tired of too many ads? Remove Ads Kolkata: Mortgage lender LIC Housing Finance reported a 25% year-on-year rise in fourth quarter net profit at Rs 1368 crore as compared with Rs 1091 crore in the year-ago period, backed by lower to cover bad loans stood at 109 crore against Rs 428 lender's net interest margin (NIM) for the quarter stood lower at 2.86% as against 3.15% for the fourth quarter in the preceding fiscal. The NIM was however higher when compared with the third quarter of interest income (NII) stood at Rs 2166 crore as against Rs 2238 loan disbursement during the quarter was at Rs 19,156 crore, up 5% over Rs Rs 18,232 crore in the corresponding period in FY24. Out of this, disbursements in the individual home loan segment were at Rs 15,383 crore against Rs 14,300 crore while project loans were at Rs 875 crore compared with Rs 1501 crore.
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Business Standard
05-05-2025
- Business
- Business Standard
India sees debut listing of residential mortgage-backed securities
India saw the listing of its first residential mortgage-backed securities sold through the bidding route on Monday. The housing finance regulator expects firms to raise Rs 10,000 crore to Rs 20,000 crore ($1.2 billion to $2.4 billion) through these instruments in the current financial year. The funds would be raised across seven to 10 transactions over the year, National Housing Bank Managing Director Sanjay Shukla said in Mumbai. Residential mortgage-backed securities, securities with residential mortgages as the underlying asset, are common across global markets. Non-bank financier LIC Housing Finance last week raised Rs 1,000 crore through 20-year securities at a coupon of 7.26 per cent, payable on a monthly basis. It listed these on the National Stock Exchange of India on Monday. In March, the National Housing Bank set up a firm to facilitate the development of the residential mortgage-backed securities market by providing opportunities to long-term investors like insurers, pension and provident funds. For LIC Housing Finance's issue, a special purpose vehicle India Residential Mortgage Trust 2025 01 issued pass-through certificates backed by a housing loan receivables pool of Rs 1,112 crore originated by the financier. The notes are rated AAA (SO) by CRISIL and CARE. The successful placement of LIC Housing's securities will help other housing finance companies to issue similar ones, said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap.
Reuters
05-05-2025
- Business
- Reuters
India sees debut listing of residential mortgage-backed securities
MUMBAI, May 5 (Reuters) - India saw the listing of its first residential mortgage-backed securities sold through the bidding route on Monday. The housing finance regulator expects firms to raise 100 billion rupees to 200 billion rupees ($1.2 billion to $2.4 billion) through these instruments in the current financial year. The funds would be raised across seven to 10 transactions over the year, National Housing Bank Managing Director Sanjay Shukla said in Mumbai. Residential mortgage-backed securities, securities with residential mortgages as the underlying asset, are common across global markets. Non-bank financier LIC Housing Finance ( opens new tab last week raised 10 billion rupees through 20-year securities at a coupon of 7.26%, payable on a monthly basis. It listed these on the National Stock Exchange of India on Monday. In March, the National Housing Bank set up a firm to facilitate the development of the residential mortgage-backed securities market by providing opportunities to long-term investors like insurers, pension and provident funds. For LIC Housing Finance's issue, a special purpose vehicle India Residential Mortgage Trust 2025 01 issued pass-through certificates backed by a housing loan receivables pool of 11.12 billion rupees originated by the financier. The notes are rated AAA (SO) by CRISIL and CARE. The successful placement of LIC Housing's securities will help other housing finance companies to issue similar ones, said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap. ($1 = 84.2770 Indian rupees)
Mint
25-04-2025
- Business
- Mint
Home loan balance transfer: 3 smart reasons why you should switch today
The Reserve Bank of India (RBI) has recently reduced the repo rate twice in 2025. First it was reduced to 6.25% in the month of February and then to 6% in the month of April. This has created a fairly reasonable opportunity for all home loan borrowers to try and explore refinancing options. Now to facilitate the same, one such option is the Home Loan Balance Transfer (HLBT), which allows borrowers to shift and transfer their loans to another reputable lender offering more reasonable terms. Let us explore three smart reasons to consider home loan balance transfer along with the associated pros and cons. A home loan balance transfer is the process of transferring your existing home loan from one bank or lender to another. This is usually done to take the advantage of improved loan terms, better interest rates, lower EMIs etc. Some salient features of transferring a home loan are discussed below: Now, a home loan balance transfer helps in EMI savings as generally interest rates are reduced when the lender is changed. Transfer from a higher to a lower interest rate helps in boosting savings. For example: Shifting a ₹ 45 lakh loan from 9.5% to 8.5% can help in savings over ₹ 4.6 lakhs in interest. As of April 2025, balance transfer rates range between 8.00% and 9.90%. For example: HDFC Bank provides for a transfer rate of 8.75%, SBI provides for 8.50%, LIC Housing Finance provides for 9.10% as defined by the following table: Banks Transfer Rate State Bank of India 8.50% per annum HDFC Bank 8.75% per annum LIC Housing Finance 9.10% per annum Bank of Baroda 8.85% per annum Note: The rates discussed above are illustrative in nature. For the exact figures refer to the official websites of the respective financial institutions. Now it is a given that lower EMI burdens can improve monthly cash flow. They can hence leave a bigger amount of cash in the hands of the home loan borrower. All one needs in this case is efficient planning with a certified tax consultant. HLBT is not just about lower interest rates. It also provides better clarity and repayment flexibility to the borrowers. Some lenders even provide tenures of up to 30 years and EMI modification and customisation opportunities. Several others offer top up loans alongside transfer that can be used for expenses such as home redevelopment, medical needs and education. Borrowers often consider switching due to hidden charges, processing fees, improper service at their existing financial institutions. New lenders might offer a more fair fee structure, seamless support and better digital platforms, making the switch more than just a financial decision. Processing fees: Typically 0.35% to 1% of the loan amount. Still, this can change with added processing fees depending on the financial institution. Typically 0.35% to 1% of the loan amount. Still, this can change with added processing fees depending on the financial institution. Administrative & legal complications: This varies from lender to lender but needs to be kept in mind. This varies from lender to lender but needs to be kept in mind. Prepayment penalties: There are no charges on floating-rate loans (as per RBI); fixed-rate loans may still attract fees. For more you should reach out to the customer support team of your respective financial institution. There are no charges on floating-rate loans (as per RBI); fixed-rate loans may still attract fees. For more you should reach out to the customer support team of your respective financial institution. Hidden costs: Always check the fine print carefully. Then ask for a detailed fee breakdown, if possible ask for a printed brochure of the same. Always check the fine print carefully. Then ask for a detailed fee breakdown, if possible ask for a printed brochure of the same. Cost-benefit analysis: Do make sure interest savings outweigh total switching costs. With declining interest rates and competitive lenders, this entire year of 2025 is a smart time to consider a home loan balance transfer if the numbers are as per your expectations. Disclaimer: Interest rates and charges mentioned are illustrative and subject to change. Please verify details with your lender or financial advisor before proceeding with a home loan balance transfer. First Published: 25 Apr 2025, 01:26 PM IST
