LIC Housing kept pace with its 15 per cent loan growth yet again in Q3
Shares of the company, on Monday, closed at Rs 619.30
Firm also plans to raise Rs 55,000 cr via non-convertible debentures
Momentum Indicators and oscillators are Indicating strength in the stock
After strong March quarter, net interest margin at 2.5% not perceived positively by Street
Net interest margin at 2.97% best in at least 4 years
Earnings per share during the quarter under review grew to Rs 9.89 from Rs 8.30 in year-ago period
Analysts optimistic on sustained rise in net interest margin
The company's stock traded at Rs 609.65 on BSE, down 1.02 per cent
The supply of the affordable housing in the country is growing, which would boost the housing finance industry, said LIC Housing Finance Ltd Managing Director and CEO Sunita Sharma. She said that the company is expecting its total borrowing to be around Rs 50,000 crore this year.Speaking to reporters after inaugurating the company's property fair Ungal Illam 2016, she said, "We are now seeing lot of traction in the development of affordable housing. The supply of affordable housing will increase, which will be a boost to the housing finance industry".She said that the company is seeing an increased interest from the developers in building affordable houses, starting from last year and this is a positive sign in growth in supply. As far as demand is concerned, there has always been a demand for affordable housing, though supply was not adequate to meet this demand.The average ticket size of the company's loans is around Rs 19 lakh and in that sense, almost all of its lending is in the .
LIC Housing Finance surged 6% to Rs 553, also its record high on the BSE.
The company posted profit after tax of Rs 407.84 crore for Q1 FY17 compared to Rs 382.13 crore posted in same quarter last fiscal
Company made a provision of Rs 92 cr on account of aging of old project loan NPAs