LIC Housing Finance Ltd (LICHFL) intends to raise funds through green bonds in the coming fiscal year with the goal of financing ecologically sustainable housing projects.
“Green financing is something that we will look at the next year and we would deploy the fund for financing green housing projects,” LIC Housing Finance MD and CEO Tribhuwan Adhikari told PTI in an interaction.
LIC Housing Finance’s board of directors will meet on March 7 to review and approve the borrowing plan for 2024-2025, which will be funded through loans or the issuance of redeemable non-convertible debentures, zero couponed bonds, subordinate debt, Tier II bonds, or any other regulatory-approved ways.
Adhikari stated that the company expects to reach a net profit of Rs 5,000 crore by the end of the current fiscal year, owing to strong loan demand and non-core business expansion.
He stated that non-core activities include Loan Against Property (LAP) and affordable housing finance.
“Affordable housing segment remained strong in tier-2 and tier-3 markets. We remained focused on this segment, as it gives an opportunity to millions of aspiring Indians to own their home with a moderate budget,” he said.
In addition to business growth, he said, “our endeavour has been to improve service standards through ongoing digital transformation of our processes”.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
