CHENNAI: LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday.
After inaugurating the 21st edition of the property fair ‘Ungal Illam’ here, company Managing Director and CEO, Vinay Sah said, “We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent.”
On the disbursements made by the company, he said, “Last year (made in FY2017-18) actually our overall disbursements were nearly Rs 50,000 crore. We are targeting a growth rate of 15 per cent (on that).”
The company recorded disbursemments of about Rs 49,378 crore up by 19 per cent in FY 2017-18 over previous year. The disbursements in Southern region stood at Rs 7,736 crore as of March 31, 2018, he said.
On fund raising plans, he said, it was an ongoing process and the company had planned to raise funds to the tune of Rs 75,000 crore during the current fiscal.
To a query on its decision to defer the fund raising of upto Rs 1,500 crore through non-convertible debentures (NCDs) recently, he said, already the company floated the issue and next week the bidding process would commence.
“We withdrew because the rates were not suitable for us,” he said.
About the property fair, Sah said, more than 100 projects of various realty developers would be showcased during the event, which concludes on November 4.
“New projects will be launched by some builders during the mega show,” he said.
Source: Press Trust of India