Priya Patel
TLDR:
- LIC Housing Finance plans to raise funds through green bonds in FY25.
- LICHFL aims to hit a net profit milestone of ₹5,000 crore by the end of the current financial year.
LIC Housing Finance Ltd (LICHFL) is planning to raise funds through green bonds in the upcoming financial year to finance environmentally-sustainable housing projects. The company’s managing director and chief executive, Tribhuwan Adhikari, mentioned that the board meeting on March 7 will consider and approve the borrowing plan for the financial year 2024-2025.
Adhikari also stated that LICHFL hopes to achieve a net profit of ₹5,000 crore by the end of the current financial year, driven by robust loan demand and expansion in non-core business areas like loan against property and affordable housing finance. The company’s focus on the affordable housing segment in tier-2 and tier-3 markets has been strong, with a goal to improve service standards through digital transformation processes.
In the previous financial year, LICHFL reported a net profit of ₹2,891 crore, with a notable increase in net interest margin. The company aims to more than double the share of affordable housing loans in its loan book in the next two years. However, in the December quarter, LICHFL experienced slower loan growth due to internal restructuring and management changes.
