Net interest income (NII) rose by 12% in the fourth quarter to Rs 2,237.60 crore, as against Rs 1,990.30 crore for the same period the previous year. Net interest margin (NIM) for the quarter stood at 3.15% as against 2.93% for Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 1,476.18 crore, up by 2% from Rs 1,444.78 crore in Q4 FY23.

Total disbursements were at Rs 18,232 crore in Q4 FY24, as against Rs 16,027 crore for the corresponding period in FY23, up by 14% YoY. Out of this, disbursements in the Individual Home Loan segment were at Rs 14,300 crore as against Rs 12,406 crore in Q4 FY23, up by 15% YoY. Project loans were at Rs 1,501 crore as compared with Rs 1,554 crore in Q4 FY23.

The Individual Home Loan portfolio stood at Rs 2,44,205 crore as on 31 March 2024, as against Rs 2,28,730 crore as on 31 March 2023, up 7% YoY. The Project loan portfolio stood at Rs 8,036 crore as on 31 March 2024, as against Rs 11,738 crore as on 31 March 2023. The total outstanding portfolio grew by 4% to Rs 2,86,844 crore from Rs 2,75,047 crore in the earlier year.

The provisions for expected credit loss (ECL) stood at Rs 6,270.06 crore as on 31 March 2024, as against Rs 7,230.26 crore as on 31 March 2023. The Stage-3 exposure at default as of 31 March 2024, stood at 3.31% as against 4.37% as of 31 March 2023.

For FY24, LIC Housing has reported net profit and revenue of Rs 4,765.41 crore (up 65% YoY) and Rs 27,228.22 crore (up 20% YoY), respectively.

Tribhuwan Adhikari, managing director & chief executive officer of LIC Housing Finance, said: “We have seen a healthy uptick across all home loan segments, especially during the latter half of the year.

Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a record high margins and profits. In the coming year, we are confident of further improvement in all areas of operations.”

LIC Housing Finance is the largest housing finance company in India. It has one of the widest networks of offices across the country and representative office in Dubai. In addition, the Company also distributes its products through branches of its subsidiary LIC HFL Financial Services.

The scrip rose 0.45% to currently trade at Rs 633.10 on the BSE.