Thrifts and Mortgage Finance
Company Overview of LIC Housing Finance Ltd.
LIC Housing Finance Limited, together with its subsidiaries, provides loans for purchase, construction, repairs, and renovation etc. of houses/flats to individuals, corporate bodies, builders, and co-operative housing societies primarily in India. It also provides finance on existing property for business/personal needs; loans to professionals for the purchase and construction of clinics, nursing homes, diagnostic centers, and office space, as well as for the purchase of equipments; and finance to individuals for purchase, construction, repair, and renovation of new and existing flats/ houses, as well as public deposit schemes. In addition, the company is involved in setting up, running, and...
131 Maker Tower, F Premises
Founded in 1989
Key Executives for LIC Housing Finance Ltd.
LIC Housing Finance Ltd. does not have any Key Executives recorded.
LIC Housing Finance Ltd. Key Developments
Marg Is In Talks To Sell Assets
Feb 18 14
Marg Ltd (BSE:530543) is in talks to sell assets. Marg's Marg Junction, has been slapped with a possession notice by the State Bank of Patiala for non-payment of debt of INR 250 crore to a consortium of lenders. This after potential buyer Shriram Properties Private Limited expressed only a limited appetite for its liabilities. Marg Junction, is being built by Marg company Riverside Infrastructure (India) Private Limited. Three lenders have funded it - State Bank of Patiala, LIC Housing Finance Ltd. (BSE:500253), and Syndicate Bank Limited (BSE:532276). The loans have been secured by the corporate guarantee of Marg as well as the personal guarantee of its promoter GRK Reddy. State Bank of Patiala issued the possession notice on February 15, 2014. Marg owes it about INR 75 crore, LIC Housing Finance INR 117 crore and Syndicate Bank INR 58 crore. In September 2013, Shriram signed a term-sheet for acquiring the project. In its communication to Marg on February 7, 2014, Shriram has, however, said it could assume bank liabilities to the extent of INR 200 crore, and no more. The reasons it has cited for the same include "circumstances" and "uncertainties" such as a requirement for further approvals, further civil works, renegotiation of rentals as well as re-engagement with contractors. Shriram Properties has also said that, if this suits Marg, it would be able to raise the necessary funding for a one-time settlement on or before March 31, 2014. Shriram Properties Managing Director M Murali confirmed the development. "We are keen on buying the project, provided our offer is accepted by Marg and the bankers. Our offer takes into account the current market conditions," he said. Marg's Chairman and Managing Director played down the development. "Shriram Properties is only looking to buy the mall portion. We are in talks with other parties to sell the service apartments, business centre and others. This is not a setback". According to Economic Times, the lenders could not be reached for comments.
LIC Housing Finance Ltd. Presents at Citi India Investor Conference 2014, Feb-13-2014
Feb 8 14
LIC Housing Finance Ltd. Presents at Citi India Investor Conference 2014, Feb-13-2014 . Venue: Trident Hotel, Bandra Kurla, Mumbai, Maharashtra, India.
LIC Housing Finance Ltd. Presents at Merrill Lynch 18th India Investor Conference 2014, Feb-17-2014
Jan 25 14
LIC Housing Finance Ltd. Presents at Merrill Lynch 18th India Investor Conference 2014, Feb-17-2014 . Venue: Taj Lands End, Band Stand, Bandra West, Mumbai - 400050, Maharashtra, India.
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