LIC Housing Finance Gross NPA Doubles In March 2019
New Delhi: LIC Housing Finance Corporation’s gross non-performing assets (NPAs) have more than doubled for the 2018-19 fiscal at Rs 2,971.69 crore as compared to Rs 1,303.61 crore in the 2017-18 financial year.
The net NPA almost trebled at Rs 2,081.20 crore at the end of March 2019 as compared to Rs 711.66 crore at the end of March 2018, the annual report of the company reveals.
The gross NPA ratio jumped to 1.54 percent at the end of March 2019 as compared to 0.78 percent at the end of March, 2018.
The net NPA ratio stood at 1.08 percent of the housing loan portfolio of the company at the end of March 2019 as compared to 0.43 percent at the end of March 2018.
For Housing Finance Companies as a whole, LIC Housing Finance Corporation expects the gross NPAs for home loan segment to increase to 1.1 – 1.3 percent level over the medium term from the existing level of 1 percent in the country. The gross NPAs of HFC for the construction finance segment is likely to touch 1.4 – 1.8 percent levels over the medium term.