Kolkata: LIC Housing Finance is planning to raise its stake with the affordable segment of the housing loan market to boost business growth and net interest margin further.
“The affordable segment is going to be the focus next fiscal,” managing director Tribhuwan Adhikari said Monday.
He said that the lender is aiming to increase the share of the affordable home loan portfolio to one-fifth of the total portfolio from about 8-10% at present. The lender’s outstanding loan portfolio grew a modest 5% to Rs 2.81 lakh crore by the end of December.
“We have not so far given focus on this. Now, we are going to target the self employed segment. A lot of demand coming from this space,” he said.
Affordable housing segment is concentrated in tier-2 and tier-3 cities and yields higher than the prime loan segment.
It may get further push as the government promises to unveil a new scheme for the middle class if it comes back to power.
“Our Government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses,” finance minister Nirmala Sitharaman said last week while delivering the interim budget.
