Brighter outlook for LICHF in future, says report
Eastern Financiers is buoyant on LIC Housing Finance. It recommends buying rating on the stock with a target of Rs 329 in its July 2, 2012 research report.
LIC Housing Finance (LICHF), promoted by LIC of India, is one of the largest players in the nation’s housing loan segment.In addition of having a widespread network of 211 offices across the country and representative offices at Dubai and Kuwait, the company also distributes its products through its subsidiary LICHFL Financial Services Ltd.
According to the report, the firm’s growth and activities indicate a possible brighter outlook for LICHF in the future.
Eastern Financiers research report says that the housing finance industry is deeply under penetrated in India with 7% contribution to GDP as against 12% for China.
LICHF has shown a relatively stable performance in terms of asset quality even at challenging environments, says the report. Gross NPA decreased to 0.42% at the end of FY12 as against 0.47% at the end of FY11. However, net NPA rose as management inverted the surplus provisions.
To read more real estate news:
How to buy or sell a house on loan
Special rate scheme on home loans not the same as it looks!
Source: Moneycontrol
China, Dubai, Eastern Financiers, GDP, Gross NPA, housing finance industry, Housing loan, India, Kuwait, LIC Housing Finance, LIC of India, LICHF, LICHFL Financial Services Ltd., Management, research report
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