LIC Housing Finance, one of the largest housing finance companies in India is planning to raise atleast Rs 200 crore through 5-year bonds at 9.74 percent. Kotak Mahindra Bank is an arranger to the deal.
Recently, LIC Housing Finance unveiled a new home loan product ‘Freedom’ on a floating rate basis. As per the scheme, loans up to Rs 30 lakh would be offered at 9.9%, loans between Rs 30-75 lakh at 10.35% and loans of Rs 75 lakh-Rs 1.5 crore can be availed at 10.75%.
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.
