LIC Housing Finance Limited has informed the Exchange about Transcript
LICHSGFIN · price
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LIC Housing Finance reported Q2 FY26 results: total revenue rose 3% YoY to Rs. 7,163 crore, while outstanding loan portfolio grew 6% YoY to Rs. 3.12 lakh crore. Individual home loan disbursements were Rs. 13,490 crore, up 24% sequentially but just 3% YoY, with management attributing muted growth to elevated balance transfer (BT) out of Rs. 4,014 crore versus a normal run-rate of Rs. 2,000 crore. Net interest margin (NIM) stood at 2.62%, down from 2.71% a year ago, and PAT grew 2% YoY to Rs. 1,354 crore. Asset quality improved with Stage-3 assets at 2.51% (vs 3.06% YoY) and provision coverage ratio rising to 53%. Cost of funds fell 8 bps QoQ to 7.42%, and the company recently cut PLR by 25 bps and reduced rewriting rates by ~75 bps to ~8% to curb BT outflows.
Management indicated that 2.62% NIM is the bottom of the cycle and expects a modest improvement ahead, supported by another 5–12 bps drop in borrowing costs in Q3/Q4. Growth remains a concern — single-digit AUM growth trails peers — and the Board has commissioned a structural review, including exploring co-lending and direct assignment for the first time. Shareholders should watch for revival in disbursement growth in the seasonally stronger Q3/Q4 and progress on the structural turnaround plan.