LIC HOUSING FINANCE – 33 Years of Nurturing Relations

With the demand for housing loans likely to remain strong, housing finance companies are expected to benefit and grow their assets under management by 9-11 per cent in FY2023. Most of the HFCs have already reached their pre-COVID level disbursements and are set to grow their disbursement volume further. The country’s premier pure-play mortgage lender, LIC Housing Finance Company (LIC HFL) is also set to capitalise on the conducive market as it completes 33 years of operations.




As a long-term participant with a strong track record and vast industry experience, LIC HFL has seen and experienced several financial and economic cycles and always endeavoured to stay ahead of the curve. Over the years, it has grown stronger and built a huge base of around 26 lakh customers with an outstanding loan book of Rs.2.52 lakh crore. In the process, it has laid a strong foundation for sustained business growth for long-term success. LIC HFL has differentiated itself by strategically aligning to the customer needs, being innovative in its approach and laying emphasis on quality business. As a result, it has emerged as a dominant player in the financial sector and created long-term value for its stakeholders and investors.



Customer centricity has always been at the core of the Company’s initiatives ranging from contemporary product suites, affordable interest rates, simplified processes and transparency in operations. Through its well-trained network of 281 marketing offices, around 10,000 marketing intermediaries and its own distribution company, LICHFL Financial Services Ltd, the Company has an expansive reach to address the home loan needs of prospective borrowers. As part of its extended outreach, the Company further plans to extend its operations to markets in Tier 3 centres and beyond where housing demand remains unmet. To further augment its distribution plans, LICHFL has entered into many strategic alliances and tirelessly worked to provide last-mile accessibility to unserved areas and demographics.

In today's fast-paced environment, customers are increasingly shifting to the mode of digital transactions. LIC HFL has been focussing on digitalisation for many years. The new normal conditions post-pandemic have further accentuated its digital adoption. Under its digital transformation program named Project RED - Re-imagining Excellence thru’ Digital Transformation, the Company aims to bring about a differentiated loan journey to borrowers right from onboarding, approvals and post-disbursement servicing aspects. The Company has a full home loan service App HomY that has eased the process of applying for loans and sanctions. Last year, 20% of the disbursements made were initiated through HomY App. The larger objective is to usher in changes by organically unifying the work culture, strengthening the processes and, deepening customer engagement, through best-in-class technology.


Demand for housing is increasing and people are keen to buy their own homes as a safety net apart from a sense of social security. The changing customer preferences have aided the demand for larger homes. Existing homeowners are remodelling and updating existing ones. The demand from non-metro centres has also surged, owing to the emergence of smart cities, satellite towns and overall infrastructural development happening in the country. As we celebrate Azadi ka Amrit Mahotsav in India’s 75th year of Independence, LIC HFL is well-positioned to capitalise on the resurgence in opportunities and tap into the potential of the ever-growing Indian economy.