Residential apartment buildings stand in India. (Photographer: Dhiraj Singh/Bloomberg)

Q4 Results: LIC Housing Finance Says Not Looking For Acquisitions 

LIC Housing Finance Ltd. is not looking to acquire smaller companies amid ongoing crisis at non-bank lenders, but might purchase certain portfolios to boost its liquidity position going forward, its Managing Director and Chief Executive Officer Vinay Sah said.

“Things are not that good for smaller [housing finance] companies,” Sah told BloombergQuint regarding potential mergers in the industry. He, however, expects the liquidity situation of the NBFC sector to improve in the coming two to three quarters.

Also read: Indiabulls Housing Amends Merger Plan With Lakshmi Vilas Bank

The housing finance company aims to grow its disbursements by over 15 percent in the financial year 2019-20, Sah said, adding that he expects good growth rate coming from tier-2 and tier-3 cities. The company, he said, expects to raise Rs 20,000 crore in the next couple of months.

Q4 Earnings Highlights (YoY)

  • Net Interest Income climbs 21 percent to Rs 1,257.03 crore
  • Net profit rises 16.7 percent to Rs 693.58 crore
  • Disbursements jump 7 percent in the quarter, and 18 percent for FY19
  • Disbursements for the quarter came in at Rs 2, 000 crore

Watch the full interview here: