LIC Housing Finance Q2 results landed late on Friday, October 30, and the headline was steady rather than spectacular. Net profit for July-September rose 11.7% year-on-year to ₹1,507 crore, as CNBC-TV18 reported, helped along by faster disbursements in both home loans and project finance. The numbers came out after market hours. During Friday’s session the stock had settled nearly 4% lower at ₹493.70 on the NSE, so Monday’s trade will be the first real reaction.
In this article
LIC Housing Finance Q2 results: the numbers that matter
- Net profit: ₹1,507 crore, up 11.7% YoY
- Revenue from operations: ₹7,175 crore vs ₹7,074 crore a year ago
- Total income: ₹7,183 crore vs ₹7,080 crore
- Total disbursements: ₹18,127 crore, up 11% from ₹16,313 crore
- Loan book: ₹3.26 lakh crore as of September 30, 2026, up 5%
All of these figures are from CNBC-TV18’s report on the company’s filing. Notice the gap between the top line and the bottom line. Revenue barely moved, up about ₹100 crore, while profit grew in double digits. For a lender, that usually points to lower credit costs or better operating efficiency rather than a burst of new interest income.
Disbursements picked up, especially project loans
Retail loans, which is mostly home loans to individuals, still make up the bulk of the business. Retail disbursements rose 10% to ₹17,563 crore. Project loans, where the company lends to developers, jumped 49% to ₹564 crore. That’s a big percentage, but it’s off a small base. By our calculation, project loans were only about 3% of what the company disbursed in the quarter.
The loan book tells the same story. Retail loans grew 4% to ₹3.16 lakh crore, while the project loan portfolio rose 12% to ₹9,740 crore. So roughly 97% of the book is still retail, again by our arithmetic on the reported figures.
Margins are the soft spot
Here’s where we’d focus. For the first half of FY27, the net interest margin (NIM), which is the gap between what a lender earns on loans and what it pays for funds, measured against its assets, eased to 2.57% from 2.65% a year ago. CNBC-TV18 put that down to pressure on spreads in a competitive lending market. Home loans are a crowded space, with banks fighting hard for the same salaried borrowers, and a housing finance company can’t easily outprice them.
For the half-year, net profit rose 10% to ₹2,997 crore from ₹2,714 crore. Total disbursements for April-September climbed 13% to ₹33,140 crore, and project loan disbursements surged 169% to ₹1,436 crore.
MD and CEO Sandeep Kumar said the housing finance sector stayed resilient on the back of stable retail housing demand, and pointed to demographics, economic growth and government focus on housing as supports for borrower sentiment, per CNBC-TV18.
What to watch next
The company will discuss the numbers on an earnings call on Monday, November 2, 2026 at 11:30 AM IST, according to its exchange filing. We’d listen for two things: whether margins have bottomed, and how much of the profit growth came from lower provisions. Our guide on how to analyse quarterly results covers the checks we use on lenders, and our take on Aavas Financiers’ Q2 results shows how a smaller housing financier fared in the same quarter.
CNBC-TV18 also noted the stock has corrected nearly 8% so far this year. An 11% profit bump is decent, but with margins drifting lower, the call on Monday matters more than usual.
Disclaimer: This article is for information only and is not investment advice. Please consult a SEBI-registered adviser before making investment decisions.
Leave a Reply
Join the conversation
Commenting is open to registered readers. Sign up with just your email — no password needed, and it takes under a minute.
Sign up to comment Log in