LIC Housing Finance Q4 Review - Stupendous Growth Momentum Continues Grabbing Market Share: ICICI Securities
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ICICI Securities Report
LIC Housing Finance Ltd.’s Q4 FY21 earnings reflected catch-up on stress recognition, specific loan loss and Covid-19 provisioning leading to credit cost of 180 basis points (compared to 20bps in nine months-FY21).
We were factoring this in, though consensus was not, and earnings were in-line with our expectations but much below consensus.
Second Covid-19 wave disruption will keep stress pool and credit cost elevated through FY22.
Stupendous momentum in home loan disbursements continued more than doubled YoY in Q4 with 18% growth for full year FY21 grabbing the market share.
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