LIC Housing Finance Limited (LIC HFL) is one of the largest Housing Finance companies in India having its Registered and Corporate office at Mumbai. The main objective of the Company is to provide long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses. The Company also provides finance on existing property for business / personal needs and also gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments. The Company also provides long term finance to persons engaged in the business of construction of houses or flats for residential purpose and to be sold by them.
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History
Incorporated on 19 June 1989 under the Companies Act, 1956, the Company was promoted by Life Insurance Corporation of India and went public in the year 1994. The Company launched its maiden GDR issue in 2004. The Authorized Capital of the Company is Rs.1500 Million (Rs.150 Crores) and its paid up Capital is Rs.1009.9 Million ( Rs.100.99 Crores). The Company is registered with National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange.
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Operations
It has 7 regional offices, 21 back-offices and 240 marketing units across India. It also has offices in Kuwait and Dubai to cater to the Non-Resident Indians in the Gulf countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia.
Listing: The equity shares of LIC HFL are listed on Bombay Stock Exchange and the National Stock Exchange of India. Its Global depository receipts are listed on the Luxembourg Stock Exchange.
Shareholding: On 31 March 2013, 40% of the equity shares of the company were owned by LIC. the Foreign Institutional Investors (FII) held approx. 32% of the shares. Around 158,000 individual public shareholders own approx. 9% of its shares. The remaining 18% shares are owned by others.
Employees
The company had 1451 employees as on 31 March 2013, out of which 444 were women (31%) and 4 were employees with disabilities.
In its Annual report for FY 2012-13, the company reported that Loan assets per employee as at 31 March 2013 were Rs. 53.63 crores and net profit per employee was Rs. 70.51 lakhs. In the same financial year, it incurred INR 98.15 crores on employee benefit expenses.
Source of the article : Wikipedia
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