Other income was higher by 6% to Rs 21.39 crore, thus restricting the total income to Rs 958.34 crore, up by 9% YoY. Operating Expense was down by 2% to Rs 132.93 crore. The growth in OP thus was up by 11% to Rs 825.41 crore.

There was a provision of Rs 104.46 crore as compared to a provision of Rs 116.46 crore for June 16 quarter. After providing deprecation of Rs 2.45 crore, PBT was up by 16% to Rs 806.10 crore. After providing total tax of Rs 248.42 crore, PAT for the June 17 quarter stood at Rs 470.08 crore, up by 15% YoY.

Commenting on the performance, Mr. Vinay Sah, MD & CEO, LIC Housing Finance said, "The Company recorded healthy growth in Disbursement and portfolio growth during the first quarter of the financial year. With growing focus of Government in the affordable housing segment we are confident that the growth trajectory would be maintained. The Company will continue its focus of enabling convenient and efficient financial access to every Indian to own a home of his own."

Other updates

The outstanding mortgage portfolio as on June 30, 2017 was Rs. 147051 crore as against Rs. 127437 crore on June 30, 2016, thus registering a growth of 15%.

In the quarter ended June 30, 2017, the Company disbursed Rs 8286 crore in the Individual Loan segment, representing a growth of 17 % over the corresponding period in the previous year. Disbursement in the project loan segment was Rs 413 crore against Rs 478 crore for the corresponding period in the previous year.

The Individual loan portfolio stood at Rs 141440 crore as against Rs 123681 crore, a growth of 14%. Developer loan portfolio stood at Rs. 5611 crore as on June 30, 2017 as against Rs. 3756 crore, a growth of 49% as on June 30, 2016.

Net interest margins (NIM) for the Q1 FY18 stood at 2.50% as against 2.61% for Q1 FY17.

Total Gross NPAs for the company including NPAs on project loans was 0.72% as on June 30, 2017 as against 0.59% as on June 30, 2016. Gross NPAs in individual segment 0.42% as on June 30, 2017 as against 0.35 % as on June 30, 2016.

Net NPAs stood at 0.38% as on June 30, 2017 as against 0.28% as on June 30, 2016.

Total provision including general provision on standard loans is Rs. 1137 crores as on June 30, 2017 against Gross NPAs of Rs 1066 crores on the same date.

Performance for the 12 months ended Mar'17

LIC Housing Finance reported 22% YoY growth in net interest income (NII) to Rs 3755.45 crore for the 12 months ended Mar'17. Net interest margins (NIM) for the 12 months ended Mar'17 stood at 2.7% as against 2.52% for the corresponding period ended Mar'16.

Other income was higher by 5% to Rs 93.41 crore, thus resulting in a total income of Rs 3848.86 crore, up by 21% YoY. Operating Expense was up by 31% to Rs 602.33 crore. OP growth thus stood at Rs 3246.53 crore, up by 19%.

There was a provision of Rs 281.32 crore as compared to a provision of Rs 146.46 crore for the 12 months ended Mar'16. After providing deprecation of Rs 9.43 crore, PBT was up by 15% to Rs 2955.78 crore. After providing total tax of Rs 1024.73 crore, PAT for the 12 months ended Mar'17 stood at Rs 1931.05 crore, up by 16% YoY.