LIC Housing Finance to disburse loans worth Rs 10,000 crore

LIC Housing Finance (LICHF) is planning to disburse loans worth Rs 10,000 crore this fiscal, up from the Rs 7,100 crore last year.

“During the last financial year, we disbursed loans worth Rs 7,100 crore and our annual target for this year is Rs 10,000 crore," said R R Nair, director and chief executive, LIC Housing Finance.

LIC Housing Finance, a fully-owned subsidiary of the Life Insurance Corporation of India, has so far approved over Rs 5,500 crore and already disbursed around Rs 4,500 crore, Nair said.

The company also expects to bring down its Non-Performing Assets (NPA) by fiscal end, Nair said.

"We have been maintaining our NPA year after year. Last year, it was 1.7 (gross) and a net of 0.63. This year we expect it to come down to atleast 1.6," Nair said.

Referring to the slowdown in the real estate sector, he said the company was not facing any problem, adding, "there may be a slowdown for builders targeting investors or speculators. I don't think there is slowness for those who are focusing on genuine end-users," Nair said.

"We have been operating in the end-user segment and so have not experienced any slowdown," Nair said adding that the end-user segment had a vast potential due to a demand-supply gap of 27 million dwelling units in the country.

"We have a growth rate of 30 per cent plus compared to corresponding period last year. This growth rate is considered to be decent in the current scenario," Nair said.