Credit rating agency, CARE has reaffirmed the assigned ‘AAA’ rating to the Non Convertible Debentures (NCD) issue of LIC Housing Finance (LICHF) for Rs 11,000 crore. The rating also considers LICHF’s track record and healthy market share in the housing finance sector, adequate capitalization levels, comfortable liquidity position, low operating costs and improving asset quality.
LIC Housing Finance is the second largest housing finance player in India with more than Rs 51,000 crore of outstanding mortgage loan portfolios as on March 31, 2011. The company’s net profit after tax for the quarter ended March 31, 2011 has surged by 47.42% at Rs 314.77 crore as compared to Rs 213.51 crore for the quarter ended March 31, 2010. Total income has increased by 43.83% from Rs 967.74 crore for the quarter ended March 31, 2010 to Rs 1391.92 crore for the quarter under review.
Company Name | CMP |
---|---|
LIC Housing Finance | 633.15 |
Indiabulls Housing | 157.50 |
Housing & Urban Dev. | 273.85 |
PNB Housing Finance | 722.15 |
Can Fin Homes | 727.95 |
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