LIC Housing Finance (LICHSGFIN) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 revenue from operations was INR 7,194 crore, with FY26 revenue at INR 28,764.63 crore, up 3% YoY; PAT for Q4 was INR 1,497.41 crore and for FY26 was INR 5,595.15 crore, up 3% YoY.

• Loan disbursements in Q4 FY26 were INR 21,019 crore, up 10% YoY; FY26 total disbursements were INR 66,544 crore, up 4%.

• Individual home loan portfolio grew 4% YoY to INR 2,70,893 crore, comprising 84% of the total portfolio; non-housing individual loan disbursements rose 25% YoY.

• Dividend declared/recommended at INR 10 per share (500% of face value), subject to AGM approval.

• Leadership transition: Mr. Sandeep Kumar to take over as CEO on August 31, 2026; appointment as COO approved.

Financial highlights

• Net interest income for FY26 was INR 8,424.52 crore, up 4% YoY; Q4 NII was INR 2,222 crore, up 3% YoY.

• Net interest margin for FY26 was 2.68% (FY25: 2.73%); Q4 NIM was 2.80%.

• Stage 3 exposure at default improved to 2.16% (Q4 FY25: 2.47%), with Stage 3 provisioning cover at 50%.

• Cost of funds declined to 7.27% (FY25: 7.73%); incremental cost of funds reduced to 6.94%.

• Capital adequacy ratio as of March 2026 was 24.22%.

Outlook and guidance

• Targeting 10%-12% loan book growth for FY27, with Q1 aiming for 15% growth.

• NIM guidance for FY27 is 2.5%-2.7%, assuming stable macro conditions.

• Asset quality expected to improve further, with a major corporate NPA resolution to reflect in May 2026.

• Board ROA target is 2%, with management guiding for 1.75%-1.80% in FY27.

• Loan portfolio CAGR over the last five years was 6%; PAT CAGR was 25%.