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LIC Housing Finance plans to raise funds through green bonds in FY25
Livemint
·
1y ago
Medial
LIC Housing Finance Ltd (LICHFL) plans to raise funds through green bonds in the next financial year to finance environmentally-sustainable housing projects. The company aims to hit a net profit of ₹5,000 crore by the end of the current financial year, driven by strong loan demand and expansion in non-core businesses. LICHFL is focusing on affordable housing loans and aims to double the share of these loans to 20-25% in its loan book over the next two years. The company has reported a net interest margin of 3% for the third quarter.
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Related News
LIC Housing Finance offers better valuation than peers
Money Control
·
1y ago
Medial
Affordable housing finance is gaining attention following the expansion of the Pradhan Mantri Awas Yojana (PMAY) scheme. LIC Housing Finance, a semi-government company with support from LIC, has shown a healthy uptick in all home loan segments. They have been focusing on reducing non-performing assets (NPA) and controlling the cost of funds. While valuations are not cheap, LIC Housing Finance shows a positive medium-term outlook and operates with a track record of steady performance.
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REC raises USD 500 million via green bond
YourStory
·
10m ago
Medial
State-owned REC Ltd has successfully raised $500 million through green dollar bonds to finance renewable energy projects. The five-year bonds have a coupon rate of 4.75% per annum and will mature on September 27, 2029. This marks the first US dollar bond issuance by an Indian public sector enterprise in 2024. The funds will be used to support eligible green projects in accordance with REC's Green Finance Framework and the principles of the Climate Bond Initiative. The bonds will be rated Baa3/BBB- and listed on the Global Securities Market of India International Exchange.
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LIC Housing Finance aims to protect NIM first, says MD Adhikari
Economic Times
·
21d ago
Medial
LIC Housing Finance plans to reduce its individual home loan share from 85% to 70% in two years, looking to boost margins and growth. The company will focus on high-yielding loan segments like loans against property. Despite challenges in the affordable housing segment, LIC Housing forecasts continued loan portfolio growth. Managing Director Tribhuwan Adhikari aims to protect net interest margins amid soft rates, as demand remains tempered despite rate cuts.
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Brookfield-backed Data InvIT raises nearly $1 bn in rare bond deal to fund ATC India purchase
VCCircle
·
11m ago
Medial
Brookfield-backed Data Infrastructure Trust, an Indian infrastructure investment trust (InvIT), has raised $941 million through rupee bonds to finance the acquisition of American Tower Corp's (ATC) local assets. The bond offering is open to foreign investors only, as it is structured as a downstream investment. The two series of bonds, maturing in five years, have a quarterly interest rate of 9.99%. Alongside the bond issue, Data Infrastructure Trust plans to raise additional funds through bank loans and equity to complete the ATC India purchase.
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HDFC Bank raises ₹7,425 crore via bonds to fund infra, housing projects
Livemint
·
1y ago
Medial
HDFC Bank has raised ₹7,425 crore through non-convertible bonds to finance infrastructure and affordable housing projects, as per a regulatory filing. The bank issued 742,500 bonds with a face value of ₹100,000 each. This move highlights HDFC Bank's commitment to supporting the development of crucial sectors in India.
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LIC Housing Finance reduces interest rate in line with recent RBI repo rate cut
Economic Times
·
2m ago
Medial
LIC Housing Finance has reduced its interest rate on new home loans by 50 basis points, aligning with the recent RBI repo rate cut. This change makes new home loan interest rates start at 7.50%, effective June 19, 2025. The reduction aims to benefit new home loan customers, enhance affordability, and boost housing demand, particularly in affordable and mid-income segments. The move coincides with LIC Housing Finance's 36th Foundation Day and supports RBI's economic stimulus efforts.
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Housing finance companies struggle as mortgage rate war intensifies
Economic Times
·
4d ago
Medial
Housing finance companies (HFCs) are under pressure as public sector banks aggressively cut mortgage rates, shrinking HFCs' profit margins. Despite increased loan disbursals, their assets under management have not grown proportionally due to borrowers shifting loans. Bajaj Housing Finance reported a 22% rise in disbursements, yet slight asset growth, while others like Aadhar and LIC Housing Finance saw varied profit changes. The competition is expected to persist for another few quarters before stabilizing.
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India's Modi aims to make GIFT City a centre for sustainable finance
Reuters
·
1y ago
Medial
Indian Prime Minister Narendra Modi aims to transform Gujarat into a global sustainable finance center to support the $10 trillion investment required for the country's net-zero emissions target by 2070. Modi envisions GIFT (Gujarat International Finance Tec-City) as a channel to attract green capital flow through the issuance of financial instruments like green bonds and sustainability-linked bonds. GIFT City, a tax-neutral financial hub, aims to become a leading global financial services and technology center similar to Singapore.
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Former HDFC employees set up affordable housing finance firm Weaver Services
Livemint
·
1y ago
Medial
Former officials of HDFC Ltd. have established Weaver Services, a low-cost housing finance business. Led by Satrajit Bhattacharya, the venture is currently in talks with private equity players to secure funds for acquiring small-sized housing finance companies. The company aims to hire former HDFC employees, with Siddharth Das already onboard as the chief technology officer. Affordable housing finance companies have experienced increased investor interest, and AHFCs are expected to grow at a rate of 22-24% in FY25, according to ICRA.
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Mindspace REIT raises Rs 550 cr from IFC via issue of green bonds
Economic Times
·
3d ago
Medial
Mindspace Business Parks REIT, sponsored by the K Raheja Corp group, has secured an additional Rs 550 crore from the International Finance Corporation (IFC) by issuing green bonds. This adds to their initial Rs 650 crore raised via Sustainability-Linked Bonds in June 2024. The funds will support the company in expanding green-certified space. Mindspace REIT owns office spaces across Mumbai, Pune, Hyderabad, and Chennai, with a total leasable area of 38.1 million square feet.
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