LIC Housing Finance Limited, India's leading housing mortgage lender, is keen to diversify its services into various financial services such as banking. It was stated by a top company official in Chennai.
R.R. Nair, Director and Chief Executive of the company said that it had already applied for a banking license. “We are planning to float one subsidiary a year for the next five years," he told reporters in Chennai on on September 24.
Nair further said that the company was looking at financial services, venture capital fund, property service development among others.
He also told the press persons that the company's Rs.5 billion venture capital fund was set to become operational by October end. He told them the LIC Housing Finance would participate in real estate projects.
Outlining the LIC Housing's business, Nair said the company targeted to disburse Rs.200 billion compared to Rs.148.53 billion it had disbursed the previous year.
LIC Housing Finance Ltd was incorporated in 1989 under the Companies Act, 1956 and it was promoted by LIC of India and went public in the year 1994.
R.R. Nair, Director and Chief Executive of the company said that it had already applied for a banking license. “We are planning to float one subsidiary a year for the next five years," he told reporters in Chennai on on September 24.
Nair further said that the company was looking at financial services, venture capital fund, property service development among others.
He also told the press persons that the company's Rs.5 billion venture capital fund was set to become operational by October end. He told them the LIC Housing Finance would participate in real estate projects.
Outlining the LIC Housing's business, Nair said the company targeted to disburse Rs.200 billion compared to Rs.148.53 billion it had disbursed the previous year.
LIC Housing Finance Ltd was incorporated in 1989 under the Companies Act, 1956 and it was promoted by LIC of India and went public in the year 1994.
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