LIC Housing raises Rs 810 crore from LIC by issuing preference shares

22 Mar 2012 Evaluate

LIC Housing Finance has mopped up Rs 810 crore from its promoter, LIC by issuing preference shares. The company has issued 3 crore equity shares of face value of Rs 2 each at a premium of Rs 268 per share to LIC.

Tier-I capital adequacy of the housing finance company stood at 8.6% as on December 31, 2011. The fund infusion would help raise capital adequacy ratio.

The company posted a surge of 43.19% in its net profit of Rs 305.69 crore for the quarter ended December 31, 2011 as compared to Rs 213.49 crore for the same quarter in the previous year. Total income has increased by 17.58% from Rs 1354.42 crore of Q3FY11 to Rs 1592.54 crore in the quarter under review.

During third quarter ended December 31, 2011, the company sanctioned individual loans worth Rs 6,009 crore, higher than Rs 5,302 crore in the corresponding period a year ago. Besides it disbursed individual loans worth Rs 4,568 crore during the three month period, up from Rs 4,215 crore in the corresponding period of the previous year.

LIC Housing Finance is the second largest housing finance player in India. It has one of the widest networks of over 205 offices across the country and representative offices at Dubai & Kuwait.

LIC Housing Finance Share Price

583.90 1.45 (0.25%)
23-Dec-2024 12:51 View Price Chart
Peers
Company Name CMP
LIC Housing Finance 583.90
Housing & Urban Dev. 237.60
Bajaj Housing Financ 126.00
Sammaan Capital 150.60
PNB Housing Finance 851.80
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