LIC Housing Finance Q4 Review - Stupendous Growth Momentum Continues Grabbing Market Share: ICICI Securities

Residential buildings stand in Noida, Uttar Pradesh, India. (Photographer: Anindito Mukherjee/Bloomberg)

LIC Housing Finance Q4 Review - Stupendous Growth Momentum Continues Grabbing Market Share: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Securities LIC Hosing Finance Q4FY21 Result Update.pdf

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