Credit rating agency, CRISIL has assigned its ‘AAA/Stable’ rating to the Rs 10,000 crore non-convertible debenture (NCD) issue of LIC Housing Finance and has reaffirmed its ratings on LIC Housing’s other debt programmes and bank facilities at ‘AAA/FAAA/Stable/CRISIL A1+’.
The ratings continue to reflect the support that company receives from its largest shareholder, Life Insurance Corporation of India (LIC), which is, by far, India’s largest player in the life insurance space. The ratings also reflect the company’s diversified resource profile, comfortable capitalisation, and adequate earnings profile. These rating strengths are partially offset by the threat to LIC Housing’s market position because of intense competition in the housing finance segment.
The Company’s net profit for the quarter ended June 30, 2011 surged by 20.98% at Rs 256.50 crore as compared to Rs 212.02 crore for the quarter ended June 30, 2010. Its total Income increased by 39.73% to Rs 1418.18 crore for the quarter from Rs 1014.930 crore for the corresponding quarter of the previous year.
Company Name | CMP |
---|---|
LIC Housing Finance | 585.30 |
Housing & Urban Dev. | 240.30 |
Bajaj Housing Financ | 126.15 |
Sammaan Capital | 151.15 |
PNB Housing Finance | 854.85 |
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