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ICICI Direct Report
LIC Housing Finance Ltd. reported steady Q1 FY21 results wherein loan growth was sluggish whereas lower provisions and lower tax rate led to healthy profit after tax growth.
Moratorium book was relatively lower compared to peers. As on June 2020, about 25% of the total loan book was under moratorium while individual loans under moratorium formed 16% of respective portfolio. Moratorium for loan against property and developer loans was at 37% and 77%, respectively.
Loan book for the quarter was at Rs 209817 crore, up 6% YoY, with major proportion of loan mix skewed towards individual loans at Rs 195176 crore (up 6% YoY) while developer loans grew 7.5% YoY to Rs 14641 crore.
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