Chennai: LIC Housing Finance has set a target of generating total business of Rs 33,000 crore in the current financial year, up by 22 per cent over the same period last year, said a top official.
"Our business growth compared to last year has been quite healthy. We are expecting target business of Rs 33,000 crore during the current financial year," LIC Housing Finance Ltd., Managing Director and CEO Sunita Sharma told reporters after inaugurating the 17th edition of annual expo on housing finance - 'Ungal Illam (Your House)' here.
In the last fiscal, total business volume stood at Rs 27,000 crore, while the loan portfolio grew by 18 per cent, she said. Noting that there has been a "pick up" in the real estate financing in 2014-15, she said the target growth of loan portfolio was 20 per cent. Attributing major growth of business to the individual segment, she said her company would focus on Loan Against Property (LAP) generating more business.
"LAP Share is four per cent. We have targeted five per cent this year," she said. Ninety-five per cent of business was contributed from the affordable housing segment, while 85 per cent of customers contribute the middle-income group, she said.
On the three-day exhibition inaugurated by her, she said over 90 builders with more than 300 projects are on display.
