Loan Book Growth
₹3,20,077 Cr
+4% YoY
Outstanding loan portfolio grew to ₹3.21 lakh crore as of March 2026, up from ₹3.08 lakh crore a year ago.
LICHOUSINGFINANCE
Financial Services
30 Apr 2026
LIC Housing Finance Ltd — Q4 FY26
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).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Disbursements (Q4)
₹21,019 Cr
+10% YoY
Total disbursements for Q4 FY26 increased 10% YoY, driven by individual housing loans (+8%) and non-housing individual loans (+25%).
Net Interest Margin (NIM)
2.80%
+11 bps QoQ
NIM improved sequentially from 2.69% in Q3 FY26, but was down 5 bps YoY from 2.85% in Q4 FY25.
Stage 3 (GNPA)
2.16%
-31 bps YoY
Gross NPA ratio improved to 2.16% from 2.47% a year ago, reflecting better asset quality.
Management Guidance
Loan book growth of 10-12% in FY27
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.
Management guidance growthNIM guidance of 2.5-2.7% for FY27
Net interest margin is expected to be in the range of 2.5% to 2.7% for FY27, assuming normal geopolitical conditions.
Management guidance marginsROA target of 1.75-1.80% for FY27
Return on assets is guided at 1.75-1.80% for FY27, with a board target of 2%.
Management guidance marginsDisbursement budget of ₹73,000 Cr retail and ₹4,500 Cr project finance
The board has approved a disbursement budget of ₹73,000 crore for retail and ₹4,500 crore for project finance in FY27.
Management guidance revenueKey Risks
Geopolitical uncertainty from West Asia crisis
Escalation of the West Asia conflict could lead to higher crude oil prices, inflation, and interest rates, impacting borrower sentiment and loan demand.
high · management_commentaryIntense competition from banks on pricing
Banks have lower cost of funds and are aggressive in the prime home loan segment, pressuring LIC HFL's spreads and margins.
high · management_commentaryPotential impact of AI on IT sector employment
AI-driven layoffs in IT hubs (Bangalore, Chennai, Hyderabad) could reduce demand for home loans in key markets.
medium · management_commentarySlow resolution of corporate NPAs
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.
medium · analyst_questionNotable 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.
Frequently Asked Questions
What was LIC Housing Finance's revenue in Q4 FY26?
LIC Housing Finance reported revenue of ₹7,194 Cr in Q4 FY26, representing a -1.2% change compared to the same quarter last year.
What guidance did LIC Housing Finance management give for FY27?
Loan book growth of 10-12% in FY27: 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. NIM guidance of 2.5-2.7% for FY27: Net interest margin is expected to be in the range of 2.5% to 2.7% for FY27, assuming normal geopolitical conditions. ROA target of 1.75-1.80% for FY27: Return on assets is guided at 1.75-1.80% for FY27, with a board target of 2%. Disbursement budget of ₹73,000 Cr retail and ₹4,500 Cr project finance: The board has approved a disbursement budget of ₹73,000 crore for retail and ₹4,500 crore for project finance in FY27.
What are the key risks for LIC Housing Finance in FY27?
Key risks include Geopolitical uncertainty from West Asia crisis — Escalation of the West Asia conflict could lead to higher crude oil prices, inflation, and interest rates, impacting borrower sentiment and loan demand.; Intense competition from banks on pricing — Banks have lower cost of funds and are aggressive in the prime home loan segment, pressuring LIC HFL's spreads and margins.; Potential impact of AI on IT sector employment — AI-driven layoffs in IT hubs (Bangalore, Chennai, Hyderabad) could reduce demand for home loans in key markets.; Slow resolution of corporate NPAs — 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..
Did LIC Housing Finance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full LIC Housing Finance Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.