LIC Housing Finance hopes to earn Rs 5,000 cr profit in FY24: CEO | Company News – Business Standard
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 b...