LIC Housing Finance Limited (LICHSGFIN)
₹521.00 -2.29% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, LIC Housing's net interest income was ₹2,137 Cr (+3.0% year on year, -11.9% on the previous quarter), and net profit ₹1,499 Cr (+9.9% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹2,137 | +3.0% | -11.9% |
| Net profit | ₹1,499 | +9.9% | +0.4% |
| EPS (₹) | 27.25 | +9.9% | +0.4% |
LICHSGFIN delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 52.05% of the LICHSGFIN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.91%. That is close to its usual level. In LICHSGFIN futures, open interest rose 1.87% while the futures price fell 2.83%: short buildup (new short positions).
Delivery in the last 5 sessions: 64.3% · 46.6% · 33.8% · 43.8% · 52.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
LIC Housing Finance Limited has submitted its confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026. It confirms that securities received for dematerialisation during the period were duly processed, listed on stock exchanges, and physical certificates mutilated. This filing is purely compliance-oriented with no impact on business operations or financials.
- Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
- Confirmation certificate issued by RTA MUFG Intime India Private Limited on October 3, 2026
- Securities received for dematerialisation confirmed, processed, and mutilated within prescribed timelines
Promoter Life Insurance Corporation of India (LIC) has submitted its annual declaration under Regulation 31(4) of SEBI SAST Regulations for the financial year ended March 31, 2026. The promoter confirmed that no additional encumbrance on shares of LIC Housing Finance Limited has been made directly or indirectly, other than those already disclosed. The declaration was forwarded by the company to the stock exchanges as part of statutory compliance.
- Promoter LIC submitted declaration under Regulation 31(4) and 31(5) of SEBI SAST Regulations, 2011
- Declaration covers the full financial year ending March 31, 2026
- Promoter confirmed no encumbrances were created other than those already disclosed to exchanges
LIC Housing Finance Limited has issued a Postal Ballot notice seeking shareholder approval for the appointment of Shri Sandeep Kumar as Managing Director & Chief Executive Officer and Key Managerial Personnel. The appointment is effective from August 29, 2026, for a period lasting up to June 30, 2028, subject to his continued deputation by LIC of India. Remote e-voting for shareholders starts on September 23, 2026, and concludes on October 22, 2026, with voting results to be announced on or before October 26, 2026.
- Appointment of Shri Sandeep Kumar as MD & CEO effective August 29, 2026, through June 30, 2028
- Remote e-voting begins on September 23, 2026 (9:00 AM IST) and ends on October 22, 2026 (5:00 PM IST)
- Voting cut-off date fixed as Friday, September 18, 2026
- Postal ballot results to be declared on or before Monday, October 26, 2026
LIC Housing Finance released the transcript of its 37th Annual General Meeting held on August 28, 2026. Management reiterated a double-digit growth target for disbursements and loan book over the next 2 to 5 years. The company reported an ROE of 14.42% for FY26, targeting an expansion to 15-16% over the next 2-3 years. To combat margin pressure against commercial banks given its incremental borrowing cost of 7.17%, the company is expanding into higher-yielding LAP and LRD segments, alongside confirming a dividend of ₹10 per share.
- Targeting double-digit loan book and disbursement growth over the next 2-5 years
- FY26 ROE stood at 14.42%, with a 2-3 year target to reach 15% to 16%
- Reported NIM was 2.67% against an incremental borrowing cost of 7.17%
- Confirmed dividend payout of ₹10 per equity share (face value ₹2)
- Management clarified that no bonus share issuance is currently in the pipeline
LIC Housing Finance Limited has informed the exchanges regarding a change in its Senior Management Personnel. Shri I Sreedhar, Joint General Manager, has ceased to be part of the senior management following his superannuation. The change is effective from the close of business hours on August 31, 2026. This is a routine retirement and carries no financial or strategic disruption for the housing finance major (TTM revenue of Rs 28,674 Cr).
- Shri I Sreedhar stepped down as Joint General Manager effective August 31, 2026
- Reason for cessation is routine superannuation
- Change executed under Regulation 30 of SEBI LODR Regulations
LIC Housing Finance Limited has approved the appointment of Shri Sandeep Kumar as Additional Director and Managing Director & Chief Executive Officer (MD & CEO), effective August 29, 2026. The appointment is for a term of up to 5 years, subject to shareholder approval within three months. Shri Kumar has over three decades of experience at LIC of India since 1991 and previously served as Director & CEO of subsidiary LICHFL Financial Services Limited in 2025.
- Sandeep Kumar appointed as MD & CEO effective August 29, 2026.
- Tenure approved for up to a maximum period of 5 years (subject to LIC deputation).
- Shareholder approval to be obtained at the next general meeting or within 3 months.
- Over 30 years of experience within LIC of India, including leading LICHFL Financial Services Ltd in 2025.
LIC Housing Finance Limited has announced the cessation of Mr. T Adhikari (DIN: 10229197) as Managing Director & Chief Executive Officer and Key Managerial Personnel w.e.f. the close of business hours on August 28, 2026. The exit is pursuant to his superannuation from the services of the parent company, LIC of India. LIC Housing Finance, which manages an AUM of ₹3,09,587 Cr and reported FY26 net profit of ₹5,604.64 Cr, is expected to notify the appointment of a successor in due course.
- Mr. T Adhikari (DIN: 10229197) ceases to be MD & CEO and Director effective close of business hours on August 28, 2026
- Cessation is due to superannuation from parent organization LIC of India
- Company oversees an AUM of ₹3,09,587 Cr and generated TTM PAT of ₹5,729 Cr
LIC Housing Finance Limited announced that its Board approved the appointment of Shri Sandeep Kumar as Additional Director and Managing Director & CEO for a term not exceeding 5 years, effective August 29, 2026, subject to shareholder approval within 3 months. He succeeds Shri T Adhikari, who ceased to be MD & CEO as of August 28, 2026, following his superannuation from parent LIC of India. Shri Sandeep Kumar has over three decades of experience at LIC since 1991 and previously served as Director & CEO of subsidiary LIC HFL Financial Services Limited.
- Shri Sandeep Kumar appointed as MD & CEO effective August 29, 2026, for a term not exceeding 5 years.
- Outgoing MD & CEO Shri T Adhikari superannuated on August 28, 2026.
- Shareholder approval for the appointment to be obtained within 3 months.
- New MD & CEO has over 30 years of experience with LIC, having joined as a Direct Recruit Officer in 1991.
LIC Housing Finance announced that all four resolutions at its 37th Annual General Meeting held on August 28, 2026, were approved with the requisite majority. Shareholders approved the final dividend of Rs 10 per equity share for FY26 (99.98% votes in favour). Additionally, a special resolution enabling the Board to issue redeemable Non-Convertible Debentures (NCDs) on a private placement basis up to Rs 55,000 crore was passed with 99.95% approval.
- Final dividend of Rs 10 per equity share for FY26 approved by 99.98% votes in favour
- Special resolution passed authorizing issuance of private placement NCDs up to Rs 55,000 crore (99.95% in favour)
- Re-appointment of Director Shri P Koteswara Rao approved with 89.50% votes in favour (10.50% against)
- Overall shareholder voting turnout stood at ~80.7% across 55.01 crore total equity shares
LIC Housing Finance Limited concluded its 37th Annual General Meeting on August 28, 2026. Key business items placed before shareholders included the adoption of FY26 financial statements and the approval of a final dividend of Rs 10 per equity share. Additionally, the company sought approval for a special resolution enabling the issuance of Redeemable Non-Convertible Debentures (NCDs) on a private placement basis up to Rs 55,000 crore. Final voting results and scrutinizer reports will be submitted within two working days.
- AGM placed resolution to approve final dividend of Rs 10 per equity share for FY26
- Sought shareholder approval for NCD issuance on private placement up to Rs 55,000 crore
- Proceedings attended by 89 shareholders in person/VC along with board members and auditors
- Consolidated e-voting results to be declared within 2 working days
LIC Housing Finance Limited (LICHFL) issued a clarification regarding media reports on the NCLT Delhi order approving a personal insolvency repayment plan for personal guarantor Dr. Subhash Chandra. Media reports highlighted that against LICHFL's admitted claim of Rs 1,322.39 crore across two loan accounts, the personal guarantor repayment plan offers Rs 38.09 lakh. LICHFL clarified that the order strictly pertains to personal insolvency and does not discharge, dilute, or impact the corporate liabilities of the principal borrower entities, nor does it affect LICHFL's rights to enforce its security interest over the mortgaged corporate assets.
- Clarified media reports on NCLT order approving personal insolvency repayment plan of personal guarantor Dr. Subhash Chandra.
- Admitted claim reported in media stands at Rs 1,322.39 crore against two sanctioned loan accounts.
- Personal guarantor repayment plan provides Rs 38.09 lakh to LICHFL under IBC proceedings.
- Retains full security interest, enforcement remedies, and recovery rights over mortgaged corporate assets of principal borrowers.
LIC Housing Finance Limited has issued a clarification regarding the submission deadline for Tax Deducted at Source (TDS) documents related to its final dividend for FY 2025-26. As per the update to Clause 11 of the 37th AGM notice dated August 4, 2026, the last date for shareholders to submit TDS exemption/declaration documents is now Tuesday, August 25, 2026, revised from the earlier stated Monday, August 24, 2026. This is an administrative date correction with no impact on company financials.
- Clarification issued on August 21, 2026, regarding TDS document submission for FY 2025-26 final dividend
- Submission deadline corrected to Tuesday, August 25, 2026, instead of Monday, August 24, 2026
- Clarification pertains to Clause 11 of Notes on page 4 of the 37th AGM Notice circulated on August 4, 2026
LIC Housing Finance reported a standalone Net Profit of ₹1,488.32 Cr for Q1 FY27, up 9.4% from ₹1,359.92 Cr in the previous year's corresponding quarter. This growth was primarily supported by a reversal of impairment provisions amounting to ₹164.23 Cr, compared to a provision of ₹121.67 Cr in Q1 FY26. Total revenue from operations saw a marginal decline of 1.5% YoY to ₹7,062.45 Cr. The company also realized ₹140 Cr from the transfer of two NPA accounts to ARCs, which aided the bottom line.
- Net Profit (Standalone) increased to ₹1,488.32 Cr from ₹1,359.92 Cr YoY.
- Impairment on financial instruments recorded a reversal of ₹164.23 Cr versus a provision of ₹121.67 Cr in the previous year.
- Transferred 2 NPA accounts with a principal outstanding of ₹180.32 Cr to ARCs for a consideration of ₹140 Cr.
- Finance costs decreased by 2% YoY to ₹4,948.05 Cr from ₹5,048.35 Cr.
- Total outstanding for 85 projects under implementation stood at ₹2,183.38 Cr at the end of the quarter.
LIC Housing Finance has released the formal transcript of its Q1 FY2026-27 earnings call held on July 31, 2026. The company, India's largest Housing Finance Company (HFC) with an AUM of •3,09,587 Cr as of June 2025, is targeting a 10% growth in disbursements and loan book. Management is focusing on increasing the business contribution from its subsidiary, LICHFL FSL, from 10% to 25%. Investors should note the high GS3 levels in the wholesale segment, which stood at 25% as of June 2025, and potential NIM compression of 5-10 bps due to bank competition.
- Earnings call for Q1 FY2026-27 was conducted on July 31, 2026, at 11:30 AM IST
- Company maintains a massive AUM of •3,09,587 Cr as of June 30, 2025
- Targeting 10% growth in disbursements by leveraging the LICHFL FSL subsidiary
- Wholesale segment GS3 levels reported at 25% as of June 2025, requiring close monitoring
- Aims to increase subsidiary business contribution to 25% to boost fee-based income
LIC Housing Finance has scheduled its 37th Annual General Meeting (AGM) for August 28, 2026. The company has proposed a final dividend of ₹10 per share for FY26, with the record date set for August 21, 2026. A key agenda item is seeking shareholder approval for an enabling resolution to raise up to ₹55,000 crore through Non-Convertible Debentures (NCDs) or Tier II capital on a private placement basis. This fundraise authority is significant, representing approximately 195% of the company's current market capitalization of ₹28,205 crore.
- Proposed final dividend of ₹10 per equity share for the financial year ended March 31, 2026
- Seeking approval for issuance of NCDs or Tier II capital up to ₹55,000 crore on a private placement basis
- Record date for dividend eligibility fixed as August 21, 2026
- Total borrowing limit remains capped at ₹4,00,000 crore as per the 2019 shareholder approval
- Re-appointment of Shri P Koteswara Rao (70 years) as a Director retiring by rotation
Financial Performance
Revenue Growth by Segment
Total revenue for FY 2024-25 reached INR 28,056.22 Cr, representing a 3.02% increase from INR 27,234.64 Cr in the previous year. The primary segment is Housing Finance, which constitutes the principal revenue source. Retail business showed a 24% quarter-on-quarter growth from Q1 to Q2 FY2026.
Geographic Revenue Split
Not disclosed in available documents, though the company maintains an extensive geographical presence across India to support its INR 3,09,587 Cr AUM.
Profitability Margins
Net Interest Margin (NIM) stood at 2.62% in Q2 FY2026, a slight decline from 2.71% in Q2 FY2025. Return on Average Managed Assets (AMA) was 1.8% for FY2025 and 1.7% for Q1 FY2025. Return on Average Net Worth (RONW) was 16.0% in FY2025, compared to 16.3% in FY2024.
EBITDA Margin
Profit Before Tax (PBT) for Q2 FY2026 was INR 1,704.71 Cr, up 0.32% from Q1 FY2026. Profit After Tax (PAT) for Q2 FY2026 was INR 1,353.87 Cr, a 2% increase YoY. Core profitability is impacted by competitive pricing pressures in the salaried home loan segment.
Capital Expenditure
Not disclosed in available documents; however, the company focuses on IT infrastructure and digital transformation to manage its INR 3,09,587 Cr loan book.
Credit Rating & Borrowing
The company maintains a strong credit profile supported by its parent, LIC. It raises funds through NCDs, Commercial Paper (CP), and NHB lines. Gearing levels improved to 7.4 times as of June 30, 2025, down from 8.2 times in March 2024.
Operational Drivers
Raw Materials
The primary 'raw material' is capital/debt, comprising Bank Loans, Non-Convertible Debentures (NCDs), Commercial Paper, and Public Deposits. Interest expense is the largest cost component.
Import Sources
Domestic financial markets including public and private sector banks, insurance companies, mutual funds, and pension funds.
Key Suppliers
Key lenders and funding providers include LIC (parent), National Housing Bank (NHB), and various public and private sector banks.
Capacity Expansion
Current AUM is INR 3,09,587 Cr as of June 30, 2025. The company aims to increase the business contribution from its subsidiary, LICHFL Financial Services (FSL), from the current 10% to 25% in the coming year.
Raw Material Costs
Cost of funds is managed through a diversified borrowing base. Interest rate risk exists as assets are primarily floating rate while a higher share of liabilities is fixed rate.
Manufacturing Efficiency
Operational efficiency is measured by Net Profit per employee, which stood at INR 2.14 Cr in FY2025.
Logistics & Distribution
Distribution is handled through an extensive branch network and the LIC agency network, which aids in brand sharing and low-cost sourcing.
Strategic Growth
Expected Growth Rate
10%
Growth Strategy
The company plans to achieve 10% growth in disbursements and loan book by leveraging its subsidiary LICHFL FSL (targeting 25% business contribution) and focusing on the high-productivity Q3 and Q4 quarters. It prioritizes profitability over aggressive growth to maintain margins.
Products & Services
Individual home loans (primarily to the salaried segment), construction finance, developer loans, and insurance distribution services.
Brand Portfolio
LIC Housing Finance Limited (LICHFL).
New Products/Services
Expansion of insurance distribution (general and life) through the FSL subsidiary to increase fee-based income.
Market Expansion
Strengthening the FSL channel by increasing marketing force and recruitment to capture a larger share of the retail housing market.
Market Share & Ranking
LICHFL is the largest Housing Finance Company (HFC) in India with an AUM of INR 3,09,587 Cr.
Strategic Alliances
Strong parentage linkage with LIC (45.2% stake) providing operational, financial, and branding support.
External Factors
Industry Trends
The HFC industry is seeing increased competition from banks. LICHFL is positioning itself by maintaining a Liquidity Coverage Ratio (LCR) of 177%, well above the 85% regulatory requirement, to ensure stability during market volatility.
Competitive Landscape
Faces intense competition from large commercial banks and other leading HFCs, particularly for high-quality salaried borrowers.
Competitive Moat
Moat is derived from the 'LIC' brand and a massive distribution network. This provides a sustainable cost-of-funds advantage and trust in the retail segment, though it is challenged by aggressive bank pricing.
Macro Economic Sensitivity
Sensitive to interest rate cycles and urbanisation trends. Rapid urbanisation and government incentives for housing drive demand for home loans.
Consumer Behavior
Shift toward nuclear families and increasing societal acceptance of credit are driving long-term demand for housing finance.
Geopolitical Risks
Low direct impact; however, indirect risks include macro-economic shifts affecting interest rates and government borrowing.
Regulatory & Governance
Industry Regulations
Regulated by the Reserve Bank of India (RBI) with supervisory oversight by the National Housing Bank (NHB). Must maintain specific LCR and Capital Adequacy (CRAR) thresholds.
Environmental Compliance
Direct environmental risk is low due to the service-oriented model. ESG monitoring focuses on indirect credit risk from environmentally sensitive segments.
Taxation Policy Impact
Complies with Indian Accounting Standards (Ind AS) and Section 133 of the Companies Act, 2013.
Legal Contingencies
The company manages legal risks through a dedicated team for title verification. Specific values for pending court cases are not disclosed, but the company focuses on minimizing customer complaints to reduce legal exposure.
Risk Analysis
Key Uncertainties
Asset quality in the wholesale segment (GS3 at ~25%) and potential slippages from the INR 1,833 Cr restructured loan pool represent key financial uncertainties.
Geographic Concentration Risk
Not specifically disclosed, but the company operates a pan-India franchise to diversify regional economic risks.
Third Party Dependencies
High dependency on LIC for brand equity and the agency network for cost-effective customer acquisition.
Technology Obsolescence Risk
The company is upgrading IT systems to prevent cybersecurity threats and data breaches, which are identified as key social/operational risks.
Credit & Counterparty Risk
Credit risk is mitigated by the secured nature of the portfolio (home loans). Net Stage 3 assets were 1.3% as of June 30, 2025.
