LIC HOUSING FINANCE = Q1 FY 11 = EXCELLENT PERFORMANCE = FY11 VERY PROMISING

LIC HOUSING FINANCE LIMITED

Q1 FY11 RESULTS

COMPARISON

LIC HOUSING FINANCE LIMITED has produced another set of excellent results in Q1 FY11.

Net Sales in Q1 FY11 has gone up by 5.7% to Rs.972 Cr – compared to Rs.919 Cr in Q4 FY10 – and by 30.4% compared to Rs.745 Cr in Q1 FY10.

Total Expenditure        has come down by 0.7% in Q1 FY11 to Rs.48 Cr from Rs.49 Cr in Q4 FY10 and increased by 14.5% compared to Q1 FY10 (Rs.42 Cr).

Profit from Operations has gone up by 5.5% (to Rs.964 Cr) in Q1 FY11 compared to Q4 FY10 (Rs.914 Cr) and by a good 30.6% compared to Q1 FY10 (Rs.738 Cr).

Interest expended has gone up by 9% in Q1 FY11 (to Rs.677 Cr) – from Q4 FY10 (Rs.621 Cr) – and by 18.6% from Q1 FY10 level (Rs.571Cr)

Its net interest margins (NIM) for the quarter is 3.01% against 2.45%  for corresponding period last year. The margins are quite good.

Basic EPS before Extraordinary Items is almost at same level in Q1 FY11 (Rs.22.33) compared to Q4 FY10(Rs.22.49) – but 53.2% higher compared to Q1 FY10 (Rs.14.58)

PE RATIO : Going forward, at the current rate of progress, LIC HSG Finance may easily clock an EPS of around Rs.90 for FY11. Based on this forward earnings estimate, and the current price of Rs.1081/- ,the PE Ratio comes to  just 12 – while some of its peers are at a PE of over 25.

Overall – LIC Housing Finance has produced excellent results for the first quarter. The overall results for FY11 appear to be extremely promising - taking into account the plans for the current year. LIC HFL is ambitious enough to aim for No.1 slot in Housing Finance. Its progress is  therefore to be watched with interest by all investors.

QUARTERLY RESULTS – FIGURES:

LICHSGFIN	Jun-10	Mar-10	dif%1	Jun-09	dif%2
Net Sales	97155.2	91932.85	5.7	74504.62	30.4
Other OptgIncom	4090.2	4361.35	-6.2	3514	16.4
Employees Cost	1488.87	1195.01	24.6	989.83	50.4
Depreciation	152.41	164.2	-7.2	143.93	5.9
Other Expdr	3194.58	3512.71	-9.1	3089.37	3.4
Total Expenditure	4835.86	4871.92	-0.7	4223.13	14.5
Profit-Operations	96409.6	91422.28	5.5	73795.49	30.6
Other Income	247.62	531.74	-53.4	170.68	45.1
Interest	67723.1	62135.78	9	57085.89	18.6
Profit before tax	28934.1	29818.24	-3	16880.28	71.4
Tax expense	7732.38	8466.85	-8.7	4496.59	72
Net Profit after tax	21201.7	21351.39	-0.7	12383.69	71.2
Net Profit	21201.7	21351.39	-0.7	12383.69	71.2
Dividend.%	-	150		-
Face Value.Rs	10	10	0	10	0
Paid Up Equity	9493.26	9493.26	0	8493.26	11.8
Basic EPS after EI	-	22.49		14.58
Diluted EPS after EI	-	22.49		14.58
Basic EPS before EI	22.33	22.49	-0.7	14.58	53.2
Diluted EPS before EI	22.33	22.49	-0.7	14.58	53.2
Public holding (%)	63.46	63.46	0	59.16	7.3

ANNOUNCEMENTS

TO THE EXCHANGE

15-07-2010        LIC Housing Finance Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 97155.22 lacs for quarter ending on 30-JUN-2010 against Rs. 74504.62 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 21201.73 lacs for the quarter ending on 30-JUN-2010 against Rs. 12383.69 lacs for the quarter ending on 30-JUN-2009.          -

28-04-2010        Lic Housing Finance Limited has informed the Exchange that the Board of Directors at their meeting held on April 28, 2010 has recommended a dividend of Rs.15/- per equity share of Rs.10 each (150%) subject to approval of the members of the Company at the forthcoming Annual General Meeting.

28-04-2010        LIC Housing Finance Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 328266.56 lacs for year ending on 31-MAR-2010 against Rs. 274764.68 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 68883.49 lacs for the year ending on 31-MAR-2010 against Rs. 53742.27 lacs for the year ending on 31-MAR-2009.      -

28-04-2010        LIC Housing Finance Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 91932.85 lacs for quarter ending on 31-MAR-2010 against Rs. 75442.51 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 21351.39 lacs for the quarter ending on 31-MAR-2010 against Rs. 15755.8 lacs for the quarter ending on 31-MAR-2009.         -

28-04-2010        LIC Housing Finance Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 328266.56 lacs for year ending on 31-MAR-2010 against Rs. 274764.68 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 66217.61 lacs for the year ending on 31-MAR-2010 against Rs. 53162.02 lacs for the year ending on 31-MAR-2009.      -

30-03-2010        News Verification : The media had reports that Lic Housing Finance Ltd may get a banking licence. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Lic Housing Finance Ltd has vide its letter inter-alia stated," We wish to clarify that we do not know the source of reports as appearing in the media. As on date, the Company has not made any application to the Reserve Bank for Banking licence. The appropriate decision in this regard will be taken only after RBI notifies the guidelines for issuing Banking licence."

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