LIC Housing Finance hopes to earn Rs 5,000 cr profit in FY24: CEO

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, is expecting a net profit of Rs 5,000 crore in the current financial year on the back of robust loan demand and expansion in non-core business. The non-core business includes Loan Against Property (LAP) and affordable housing finance, LIC Housing Finance managing director and CEO Tribhuwan Adhikari told PTI in an interaction. During 2022-23, the biggest housing finance company earned a net profit of Rs 2,891 crore. "Affordable housing segment remained strong in tier-2 and tier-3 markets. We remained focused on this segment, as it gives an opportunity to millions of aspiring Indians to own their home with a moderate budget," he said. In addition to business growth, he said, "our endeavour has been to improve service standards through ongoing digital transformation of our processes." Fourth quarter is usually the most important business period for the company and going by the current trends, he said, "we expect to clo

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