LIC Housing aims Rs 40K cr loan disbursal this fiscal: MD

LIC Housing Finance is looking at a 17.6 percent growth in its total loan disbursement at Rs 40,000 crore this fiscal, a top company official said today.

The company had achieved loans disbursal of Rs 34,000 crore last fiscal, LIC Housing Finance MD and CEO Sunita Sharma said here.

"Last year, we grew by 20 percent by profits. By business, we grew by 19-20 percent. As of March 31, 2016, we disbursed Rs 34,000 crore. For current (financial) year, we expect Rs 40,000 crore (of disbursements)," she told reporters.

Stating that the affordable housing segment was holding the largest number of share in terms of business (for the company), she said, "85 percent of LIC HFL customers are salaried and remaining self-employed. The average ticket size of a housing loan is Rs 19 lakh." To a query on any fund raising plans, she said the company had planned to borrow Rs 50,000 crore through non-convertible debentures.

"Last year, we borrowed Rs 40,000 crore. This time, why I am borrowing Rs 50,000 crore, because the earlier borrowings mature," she said.

After inaugurating the three day expo -- Ungal Illam (Your House) organised by LIC HFL, she said, "The exhibition in its 19th edition generates both lead as well as businesses." "We have both lead generation and business transaction during the event. Last year, the total business was Rs 150 crore. In this edition, we expect to do Rs 250 crore." With more than 500 projects, about 75 builders are participating in the event.