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Revenue
₹7,194 Cr
verified against source
Revenue YoY
-1.2%
reported change
EBITDA
Pending
latest reported figure
Source
screener in partial
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
LIC Housing Finance reported Q4 FY26 revenue from operations of ₹7,194 crore, down ~1.2% YoY, while PAT grew 9.46% YoY to ₹1,497 crore, aided by lower credit costs (2 bps in Q4) and improved NIM of 2.80% (up 11 bps QoQ). Loan book grew only 4% YoY to ₹3.21 lakh crore, with individual home loans comprising 84%. Disbursements rose 10% YoY to ₹21,019 crore, driven by a 25% jump in non-housing individual loans. Stage 3 improved to 2.16% (vs 2.47% a year ago). Management guided for 10-12% book growth in FY27, supported by new co-lending, DSA partnerships, and an affordable housing vertical. However, geopolitical risks (West Asia crisis) and intense competition from banks on pricing remain key headwinds. Margins are expected to moderate to 2.5-2.7% for FY27.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects double-digit loan book growth in FY27, driven by 15% retail disbursement growth, new co-lending/DSA channels, and an affordable housing vertical.
- Net interest margin is expected to be in the range of 2.5% to 2.7% for FY27, assuming normal geopolitical conditions.
- Return on assets is guided at 1.75-1.80% for FY27, with a board target of 2%.
- The board has approved a disbursement budget of ₹73,000 crore for retail and ₹4,500 crore for project finance in FY27.
Risks flagged
- Escalation of the West Asia conflict could lead to higher crude oil prices, inflation, and interest rates, impacting borrower sentiment and loan demand.
- Banks have lower cost of funds and are aggressive in the prime home loan segment, pressuring LIC HFL's spreads and margins.
- AI-driven layoffs in IT hubs (Bangalore, Chennai, Hyderabad) could reduce demand for home loans in key markets.
- Corporate NPA resolution remains slow due to legal challenges; only one large account is expected to be resolved in May 2026 after a one-year curing period.
Key quotes
- Given a choice between protecting margins and going for growth, I would prefer to protect my margins than really go hell for growth.
- We are basically competing with our lenders, which is a difficult proposition.
- The baby has not yet been born; we first look at getting the baby born and then seeing whether it is healthy or not.
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