Tag: LIC Housing Finance

Housing FinanceLatest Stories

Areion Group Secures ₹936-Crore Bid for Aviom India Housing

MUMBAI: Areion Group has successfully secured the bid for Aviom India Housing Finance, a mortgage lender embroiled in fraud issues, after secured lenders unanimously favored its resolution proposal over a higher but conditional offer from Unity Small Finance Bank, according to sources familiar with the situation. Areion’s ₹936-crore bid is projected to enable a recovery of around 65% for Aviom’s lenders. Despite Unity Small Finance Bank initially offering the highest bid of ₹977.5 crore during the competitive auction, secured lenders supported Areion Group’s unconditional proposal. The preference was influenced by Unity’s conditional offer, which raised concerns about execution, as confirmed…

Housing FinanceLatest Stories

NHB Advocates for Lower Home Loan Rates; Lenders Delay Cuts

MUMBAI: Sanjay Shukla, the managing director of the National Housing Bank (NHB), recently urged major home financiers to lower prime lending rates in a discussion with key industry players, as reported by RealtyDailyNews. However, mortgage lenders have postponed any rate cuts until their annual internal benchmarks are reassessed in April. “During our call, the NHB chairman stressed the need for the ecosystem to transmit lower rates to borrowers, asserting that the advantages of reduced borrowing costs haven’t reached existing clients,” stated the CEO of a major housing finance company (HFC). “While HFCs are securing funds at significantly lower market rates,…

Housing FinanceLatest Stories

LIC Housing Finance Q3 FY26 Net Profit Drops 2.55%

NEW DELHI: LIC Housing Finance has reported a 2.55% decline in its net consolidated profit for the quarter ending December 31, 2025. The profit after tax was ₹1,398.27 crore for Q3 FY26, down from ₹1,434.89 crore in the same quarter last year, according to a BSE filing. The company recorded a net consolidated total income of ₹7,214.28 crore for Q3 FY26, reflecting a 2.04% increase from ₹7,069.99 crore in the corresponding quarter of the previous fiscal year. Tribhuwan Adhikari, Managing Director & CEO, stated, “Our Q3 FY26 performance has been consistent, showing sequential improvement in both margins and asset quality.…

Housing FinanceLatest Stories

Unity Small Finance Bank Wins Auction for Aviom India Housing

MUMBAI: Unity Small Finance Bank has successfully bid for the bankrupt Aviom India Housing Finance, offering an upfront payment of ₹977.5 crore, according to sources familiar with the matter. Initially, six companies expressed interest in acquiring Aviom India Housing Finance under the National Company Law Tribunal (NCLT) process, with three ultimately participating in the auction held last week. Areion, a fund backed by Omkara Asset Reconstruction Company, and Authum Investment and Infrastructure were the other two bidders in the auction conducted by Ram Kumar, the RBI-appointed administrator and former general manager of Punjab National Bank. “The bidding involved 13 rounds,…

Housing FinanceLatest Stories

LIC Housing Finance cuts new home loan rates to 7.15%

NEW DELHI: LIC Housing Finance Ltd announced on Monday that it has lowered its interest rate on new home loans to 7.15 percent. The new rates will take effect from December 22, 2025, with interest starting at 7.15 percent for newly sanctioned home loans. This decision comes as homebuyers continue to cautiously evaluate their purchasing choices, and the reduction is anticipated to enhance homebuyer sentiment. LIC Housing Finance aims to make home ownership more accessible with this initiative. This reduction follows the Reserve Bank of India’s Monetary Policy Committee’s recent 25 basis points repo rate cut. Published On Dec 22,…

Housing FinanceLatest Stories

Ajai Kumar Shukla Appointed MD and CEO of PNB Housing Finance

India’s PNB Housing Finance has appointed Ajai Kumar Shukla as its managing director and CEO for a five-year term starting December 18, resulting in a 5% increase in the mortgage lender’s shares. Shukla brings over 30 years of experience in housing and mortgage lending and will take over from Girish Kousgi, who was instrumental in accelerating the company’s growth in the affordable housing sector, outperforming its competitors. The announcement comes as significant home financiers face growing challenges from banks in the luxury home lending market, while affordable housing has become more appealing due to higher yields and limited competition. Currently…

Housing FinanceLatest Stories

Aviom India Housing’s Creditors to Pursue Swiss Challenge

MUMBAI: The committee of creditors (CoC) for Aviom India Housing Finance has opted to use the Swiss challenge mechanism for conducting an auction, as per sources familiar with the matter. PwC has been engaged to define the parameters for the competitive bidding process, with the e-auction date expected to be confirmed soon. “With the Swiss challenge mechanism selected, the CoC is set to invite competing bids, allowing any prospective investor to match or enhance the leading offer,” noted one source who wished to remain anonymous. “This transparent and competitive method is anticipated to maximize recovery for lenders. Once PwC establishes…

Housing FinanceLatest Stories

LIC Housing Finance Q2 FY26 Net Profit Rises 1.63%

NEW DELHI: LIC Housing Finance has shown a slight increase of 1.63% in its consolidated net profit for the quarter ending September 30, 2025. The profit after tax reached ₹1,349.37 crore in Q2 FY26, compared to ₹1,327.79 crore from the same quarter of the previous fiscal year, according to a BSE filing. The net consolidated total income for the company amounted to ₹7,179.77 crore in Q2 FY26, marking a growth of 3.48% from ₹6,938.31 crore reported during the same period last year. Tribhuwan Adhikari, the Managing Director & CEO, stated, “Our Q2 FY2026 results reflect ongoing momentum in the housing…

Housing FinanceLatest Stories

Mortgage Rate War Hits Housing Finance Companies Hard

Housing finance companies (HFCs) are under considerable strain due to aggressive mortgage pricing by public sector banks, leading to reduced margins. Although loan disbursals are growing, many HFCs are not experiencing a corresponding rise in assets under management (AUM), primarily because borrowers are transferring their home loans to rival firms. In the June 2025 quarter, Bajaj Housing Finance reported a 0.5% drop in net profit, while Aadhar Housing Finance and LIC Housing Finance experienced growth rates of 10% and 5%, respectively. The recent reduction in lending rates by the Reserve Bank of India, which cut the repo rate by 100…

Housing FinanceLatest Stories

LIC Housing Finance Q1 FY26 Net Profit Up 4.41%

NEW DELHI: LIC Housing Finance has announced a 4.41% increase in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax reached ₹1,364 crore in Q1 FY26, compared to ₹1,306.40 crore from the same quarter last year, as per a BSE filing. The company reported a net consolidated total income of ₹7,250.16 crore in Q1 FY26, reflecting a 6.67% growth from ₹6,796.85 crore in the previous fiscal year’s same quarter. Tribhuwan Adhikari, the managing director and CEO, stated, “This year has begun positively, as we have lowered lending rates during this quarter following the RBI’s…