LIC Housing Finance Ltd (LICHFL) has announced a significant change in its leadership, appointing Shri Doraiswamy Ramachandran as the Additional Non-Executive (Nominee) Director and Chairman of the company. This appointment, effective from October 16, 2025, marks a new chapter in the company's governance structure.

Key Appointment Details

About Doraiswamy Ramachandran

Shri Doraiswamy Ramachandran brings a wealth of experience to his new role at LICHFL. His current position as the CEO & Managing Director of Life Insurance Corporation of India (LIC) underscores his deep understanding of the financial sector.

Appointment Process and Compliance

The appointment of Shri Ramachandran was made through a meticulous process, adhering to regulatory requirements:

1. The Nomination & Remuneration Committee recommended the appointment.
2. The Board of Directors approved the appointment through circulation, with assent from all directors.
3. The appointment is subject to Reserve Bank of India (RBI) approval under the Non-Banking Finance Company - Housing Finance Company (Reserve Bank) Master Directions, 2021.
4. Shareholder confirmation is required within three months, as per SEBI (LODR) Regulations, 2015.

Implications and Outlook

This appointment aligns with LICHFL's commitment to strong corporate governance. Shri Ramachandran's extensive experience in the insurance and financial sectors is expected to bring valuable insights to LICHFL's operations and strategic direction.

The company has confirmed that Shri Ramachandran satisfies the Fit & Proper Criteria of the National Housing Bank for director appointments and is not debarred from holding directorship by any SEBI order or other authority.

As LICHFL navigates the dynamic landscape of housing finance, Shri Ramachandran's leadership will be crucial in steering the company towards its future goals and maintaining its competitive edge in the market.

LIC Housing Finance , one of India's leading housing finance companies, has reported a 4.6% increase in its net profit for the first quarter. The company's profit after tax stood at ₹1,359.92 crore for the quarter ended June 30, compared to ₹1,300.21 crore in the same period last year.

Financial Highlights

• Revenue Growth: Total revenue from operations grew to ₹7,233.13 crore from ₹6,783.67 crore year-on-year, marking a 6.6% increase.
• Interest Income: The company's primary revenue source, interest income, increased to ₹7,113.06 crore from ₹6,739.13 crore.
• Finance Costs: Finance costs rose to ₹5,047.28 crore from ₹4,750.05 crore.
• Earnings Per Share: The company's earnings per share improved to ₹24.72 compared to ₹23.64 in the previous year.

Asset Quality Improvement

LIC Housing Finance demonstrated significant improvement in its asset quality:

Other Key Developments

• The company assigned receivables worth ₹1,112.05 crore under securitization during the quarter.
• LIC Housing Finance issued non-convertible debentures worth ₹7,960 crore and commercial paper worth ₹1,500 crore during the quarter.
• The liquidity coverage ratio stood at 177.43%, indicating a strong liquidity position.

Management Commentary

T. Adhikari, Managing Director & CEO of LIC Housing Finance, stated, "Our Q1 results reflect the company's resilience and strategic focus. The growth in profit and improvement in asset quality demonstrate our commitment to sustainable growth and prudent risk management."

Future Outlook

While the company has shown positive results, it remains cautious about the evolving economic landscape. LIC Housing Finance continues to focus on maintaining a robust balance sheet, improving asset quality, and capitalizing on growth opportunities in the housing finance sector.

Additional Information

• The company's board has approved shifting its registered office to 131, Maker Tower-F, 13th Floor, Cuffe Parade, Mumbai - 400005, effective from August 2, to improve administrative convenience and align with operational headquarters.
• LIC Housing Finance's 36th Annual General Meeting is scheduled for August 29, to be held through video conferencing.

Note: All figures are based on standalone financial results for the quarter ended June 30.