LIC Housing Finance share price rises as Board approves ₹1.22 lakh crore borrowing budget for FY26

In the early trade, the stock climbed as much as 2.24% to ₹532.25 apiece on the National Stock Exchange (NSE). At 9:27 am, it was up 1.79% to ₹529.85 apiece.

In an exchange filing, the company said its Board of Directors approved the borrowing budget worth ₹1,22,500 crore for FY26 "through loans and/or issue of redeemable non-convertible debentures/ zero couponed bonds/ subordinate debt / upper tier ii bonds / commercial paper / external commercial borrowing/bonds/foreign currency bond/ securitization by private placement/public issue, refinance from NHB in one or more tranches, deposits from public, corporate, trusts and any other mode of borrowing."

The Board also recommended the appointment of M/s Shah Gupta & Co and M/s Batliboi & Purohit as Joint Statutory Auditors of the company in the upcoming 36th Annual General Meeting (AGM) until the conclusion of the 39th AGM in 2028.

Mortgage lender LIC Housing Finance reported a 23.1% uptick in its profit after tax to ₹1,432 crore in the third quarter of the current fiscal, compared to ₹1,163 crore in the same period last fiscal.

Its net interest income declined 4.8% to ₹1,997.1 crore in Q3 FY25, compared to ₹2,097 crore in the year-ago quarter.

Its net interest margin fell 2.7% in the reporting quarter vs 2.71% in Q3 FY24.

LIC Housing Finance's loan disbursements grew by 2% to ₹15,475 crore in the latest December quarter as the housing finance sector continues to witness intense competition from banks, especially in the premium segment.

During the quarter under review, the firm sold a stressed loan asset amounting to ₹250 crore, which helped improve asset quality.