LIC Housing Finance (LICHSGFIN) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue from operations grew 2% year-over-year to INR 7,187 crore, with consolidated revenue at ₹7,208.92 crore.

• Outstanding loan portfolio increased 5% to INR 314,268 crore as of December 31, 2025.

• Individual home loans comprise about 85% of the portfolio, with disbursements up 7% year-over-year.

• Net interest income rose 5% year-over-year to INR 2,102 crore, with net interest margin at 2.69%.

• Profit after tax for Q3 FY26 was INR 1,383.95 crore (standalone), down from INR 1,431.96 crore year-over-year; consolidated net profit was ₹1,398.27 crore.

Financial highlights

• Total disbursements for Q3 FY26 were INR 16,096 crore, up 4% year-over-year.

• Non-housing individual loan disbursements grew 10% year-over-year.

• Stage 3 exposure at default improved to 2.45% from 2.75% a year ago.

• Provision coverage ratio on Stage 3 assets is about 54%.

• Earnings per share for Q3 FY26 at ₹25.16 (standalone) and ₹25.42 (consolidated).

Outlook and guidance

• Q4 is expected to be the strongest quarter, with anticipated disbursements of at least INR 22,000 crore.

• Management expects to end FY26 with at least a 7% increase in profits.

• NIM guidance for the year is 2.6-2.8%, with Q4 expected at 2.70-2.72%.

• Weighted average cost of funds decreased to 7.28% in 9MFY26 from 7.78% in 9MFY25.

• No material impact is expected from new labour codes, with ongoing monitoring for regulatory updates.