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  • LIC Housing Finance Ltd.

    Mumbai, October 14, 2010 : The Board of Directors of LIC Housing Finance announced its un-audited results for the second quarter ended on September 30, 2010 following its approval by the Board of Directors in a meeting held in Mumbai on October 14, 2010.

    Performance Highlights Q2 FY2011

    The Company has recorded a healthy growth in business during the second quarter ended September 2010. The Company sanctioned loans of Rupee 7667 cr and disbursed loans of Rupee 5101 crores, registering a growth of 43% and 36% respectively over the second quarter of the previous year.

    Net profit for the Q2 was Rupee 234.21 crores as compared to Rupee 171.25 crores in the corresponding period last year, thus showing a growth of 37%. The Company’s total Income including other income for the second quarter ended September 2010 was Rupee 1107 crores as against Rupee 839 crores during the same period last year, a growth of 32%.

    Net Interest Margins for the Q2 stood at 2.93% against 2.44% for the same period in the previous year.

    Performance Highlights H1 FY2011

    For the six months ended September 2010, the Company sanctioned Rupee 13015 crores, and disbursed Rupee 8493 crores, a growth of 46% & 37% respectively.

    For the six months ended September 2010, the Company’s total Income including other income was Rupee 2122 crores as against Rupee 1621 crores during the same period last year, a growth of 31%. Net profit during this period was Rupee 446.23crores as compared to Rupee 295.08 crores in the corresponding period last year, a growth of 51%.

    The Outstanding Mortgage Portfolio as on September 30, 2010 was Rupee 43385 crores as against Rupee 31890 crores on September 30, 2009, thus registering a growth of 36%.

    About the Company :

    LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of 205 offices across the country and representative offices at Dubai & Kuwait. In addition, the Company also distributes its products through 33 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 rating from CRISIL indicating highest safety with regard to the ability to service interest and repay capital. The Fixed Deposits of the Company are rated FAAA/stable by CRISIL

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