LIC Housing : Annual Report 2023-24

Making Home Ownership Achievable, Affordable and Accessible

Loan Book Composition

Customer Break-Up

Break-Up of Offices

43%

84 Officesin Top 8 Cities

57%

226 Officesin Other Cities

Fulfilling Deeply Cherished Ambitions of Owning a Home

With a passion to help millions of people in owning a home, we are widening our pervasive presence, reskilled distribution and setting up an extensive pan-India network to be proximate to our customers and to make our presence felt in every city and town. Going forward, we are expanding our business operations in Tier 3&4 cities.

KEY METRICS TO EVALUATE FY 2023-24 PERFORMANCE

₹ 2,86,844 crore

Loan Portfolio

₹ 58,937 crore

Disbursement

₹ 4,765 crore

Profit After Tax

20.78%

Capital Adequacy Ratio

₹ 29,276 crore

Net Worth

3.31%

Gross NPA

~30 lakh

Number of customers

1.63%

Net NPA

3.08%

Net Interest Margin

During the year, we consolidated our position as India’s largest Housing Finance Company with an Outstanding Loan Portfolio of ₹ 2,86,844 crore and multiplied our footprint in the past decade.

Siddhartha Mohanty

Chairman & Non-Executive Director

Message from Managing Director & CEO

IN A KEY INITIATIVE, WE STRENGTHENED OUR BUSINESS PROCESSES BY RE-ENGINEERING, UPGRADING SOFTWARE, REVAMPING OUR PROCESSING CENTRES, IMPROVING CUSTOMER ONBOARDING.

Tribhuwan Adhikari

Managing Director & CEO

Performance and Profitability

Strengthening Building Blocks Through Digitalisation

Our ongoing technology initiative Project RED aimed at bringing transformational changes by strengthening processes across verticals, organically linking our work culture, deepening customer engagement, and adopting best-in-class technology to build further capacity.

Committed to Responsible Underwriting

At LIC Housing Finance, we are well established with industry-best asset quality, underpinned by stringent credit appraisal mechanisms. A robust and stable asset quality helps drive business growth and maintain healthy capitalisation and profitability.

Created footprint in 26 states, reaching 1,424 villages and empowering communities. Our dedicated efforts have transformed 67 districts and uplifted 34 aspirational districts, driving meaningful community development and growth.

Fostered self-reliance and empowerment among communities by establishing 448 Self-Help Groups. These groups, along with various income generation activities, have significantly benefited rural communities, providing them with the resources and opportunities needed to thrive and achieve sustainable development.

Refurbished learning environments in 448 schools and provided infrastructure support to 1,49,933 students, ensuring better educational opportunities. Additionally, we empowered students with modern education tools by digitalising 163 schools through the SATHI initiative.

Promoted climate-resilient farming among 766 farmers across 2,973 hectares and established four farmer producer organisations. This was achieved through the formation of 420 farmer interest groups, strengthening agricultural communities, and fostering collaboration for sustainable farming practices.

Extended health support to 61,864 individuals, providing vital medical services and resources that have significantly improved the well-being and quality of life for numerous families. Through our efforts, we have addressed critical health needs, promoted wellness, and created a healthier, more resilient society.

Created 2,875 rural enterprises, generating ₹ 17,88,21,830 as income. This initiative has significantly contributed to economic growth by fostering entrepreneurship and creating job opportunities in rural areas.

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