LIC HFL Target: Borrow Rs 20,000 crore in 2011-12

According to Mr.V.K. Sharma, LIC HFL, Director and Chief Executive, "LIC HFL has set a target to borrow Rs 20,000 crore in the current financial year (2011-12). We have already borrowed around Rs 11,000 crore and the rest will be borrowed depending upon the demand for housing loan."

In India 30% of the housing finance company's borrowings comes from banks, about 57% comes from issuance of non-convertible debentures and 4% from the NHB (National Housing Bank). Rest is managed from the parent group along with tier-II capital among others.

Mr. V.K. Sharma also said, ''LIC HFL is planning to disburse around Rs 2,000 crore-Rs 3,000 crore of project loan in the second half of the fiscal compared to Rs 400 crore in the second quarter. The project level exposure will be done across the country. But, cities like Chennai, Bangalore, Kolkata are likely to see sound advances in this segment.".
LIC Housing Finance (LIC HFL) , a subsidiary of Life Insurance Corporation (LIC)

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