LIC Housing Finance bottom line glitters in Q3FY16

LIC Housing Finance (LICHFL) recently declared its Q3FY16 results. The company's total income increased by 16.26 per cent to Rs 3139 crore in Q3FY16, as compared to same period in previous financial year. Its total expenditure increased by 25.13 per cent to Rs 119 crore in Q3FY16 on a yearly basis.

LICHFL's EBITDA increased by 15.94 per cent to Rs 3020 crore in Q3FY16 as compared to same period in previous fiscal year. Meanwhile, the company's interest expense increased by 11.12 per cent to Rs 2355 crore in Q3FY16 on a yearly basis. Its PAT also rose by 32.6 per cent to Rs 453 crore in Q3FY16 as compared to same period in previous fiscal year. LICHFL's Net Interest Margin (NIM) improved and stands at 2.58 per cent in the Q3FY16 against 2.2 per cent in Q3FY15.

LICHFL's asset qaulity remained almost steady. The company's gross NPAs stand at 0.58 per cent, amounting to Rs 682 crore in Q3FY16 as against 0.57 per cent, amounting to Rs 580 crore in Q3FY15. Its net NPA stands at 0.32 per cent, amounting to Rs 374 crore during the quarter, as against 0.31 per cent, amounting to Rs 263 crore in Q3FY15.

Considering nine month financials, LICHFL's net interest income increased by 34 per cent to Rs 2123 crore in 9MFY16 as compared to same period in previous financial year. The company's net profit also increased by 20 per cent to Rs 1213 crore in 9MFY16 on a yearly basis. Its NIM stood at 2.51 per cent in 9MFY16 against 2.19 per cent during same period in previous fiscal year.

LICHFL's shareholding pattern indicates that FII holdings stood at 37.43 per cent and MF/institutions/Corporates holdings at 13.73 per cent as of January 2016. The share price of the company increased by 2.34 per cent on bourses in early trades and is trading at Rs 468.85 on  an intraday basis.

LICHFL provides long term finance to individuals for purchase or construction of a house or a flat for residential purpose; and repair and renovation of existing flats/houses. The company also provides long term finance to persons engaged in the business of construction of houses. It offers home loans for resident Indians, non-resident Indians and pensioners; corporate loans for construction; construction finance loan and term loans for builders and developers; other loans, such as loan against property, loan against securities and loan under rental securitization. LICHFL has seven regional offices, 16 back offices, 234 marketing offices. The company has representative offices in Dubai & Kuwait. It has coverage of more than 450 centres.