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LIC Housing Finance plans to raise funds through green bonds in the coming financial year with an aim to finance eco-friendly housing projects.

Regarding this, LIC Housing Finance MD and CEO Tribhuvan Adhikari said, “Green financing is the use of funds to finance green housing projects.”
LIC Housing Finance convened its board meeting on March 7 to consider and approve a plan to raise debt by issuing loans or redeemable non-convertible debentures for the year 2024-2025.

Meanwhile, on the back of strong credit demand and expansion of non-core business, net profit by the end of the current fiscal is expected to be Rs. 5,000 crore, the official said.
Among these, he said, key businesses include loan against property (LAP) and affordable housing finance.

He said it has posted a net profit of Rs 3,675 crore in the three quarters and will touch the Rs 5,000 crore milestone by the end of this fiscal.
In 2022-23, the largest housing finance company posted a net profit of Rs 2,891 crore.
Net interest margin (NIM) for the quarter ended December 2023 stood at 3 percent, up from 2.41 percent recorded in December 2022.

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