LIC Housing Finance is one of India's largest housing finance companies, with individual home loans making up about 84-85% of its Rs. 3,22,098 Cr loan book, and it reports into a quarter of intense PSU-bank rate competition in home loans. The print will speak to two things above all: whether NIM recovers from 2.58% back to the guided 2.6% floor, and whether Q2 disbursement growth lands near the ~15% management guidance.
| Results date | October 30, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 7,062.45 Cr (-1% YoY) |
| Previous quarter PAT | Rs. 1,488.32 Cr (+9.4% YoY) |
| Previous quarter NIM | 2.58% (vs 2.68% in Q1 FY26) |
| Market cap | Rs. 26,953.09 Cr |
| CMP | Rs. 490.0 |
As per the board meeting notice, the Board is scheduled to meet on October 30, 2026 at 2:30 p.m. to approve the unaudited standalone and consolidated financial results for Q2 and the half-year ended September 30, 2026. The trading window for designated persons remained closed from October 1 to November 1, 2026, reopening on November 2, 2026.
The quarter's central test is the NIM bridge: Q1 FY27 NIM printed at 2.58%, 2 basis points below the guided 2.6% lower end, and management has framed FY27 as a 'tug of war between high growth and maintaining our margins' at the guided 2.6% level. On the demand side, the backdrop supported the ~15% Q2 disbursement-growth guide — RBI's NBFC/HFC credit series accelerated from +14.9% YoY in July to +15.8% in August 2026, with housing explicitly flagged as accelerating within retail, and NHB RESIDEX showed 50-city house prices up 7.0% YoY in the April-June quarter. The swing factor is balance transfers: PSU-bank home-loan floors drifted from 7.10% to 7.00% through the quarter, keeping the rate war at full intensity in a seasonally exposed quarter (Q2 FY26 BT-out was Rs. 4,014 Cr vs a ~Rs. 2,000 Cr norm), though the new business retention department and post-October repricing at lending rate + 50 bps are the stated mitigants. Asset quality is the cleaner part of the story — GNPA improved to 2.14% from 2.62% a year ago against a 1.9% FY27 target — with the Rs. 500 crore restructured-account upgrade indicated for Q2 or Q3 and credit cost expected to normalise from Q1's negative 5 bps toward the guided 10-15 bps. This will also be the first results call under new MD & CEO Sandeep Kumar, in seat since August 29, 2026, where investors will watch for continuity on the FY27 targets including the Rs. 73,000 Cr retail plus Rs. 4,500 Cr construction-finance disbursement budget.
Q2 FY27 disbursement growth vs ~15% guidance and FY27 tracking: The primary number to check on the October 30 call.
NIM recovery toward the 2.6% guided level
Asset quality and the Rs. 500 crore restructured account
Strategy execution under the new MD & CEO: First results call since Sandeep Kumar took charge on August 29, 2026.
Auditors did not permit the upgrade in Q1 FY27 due to a slight delay in the first payment, though management believes it should have been upgraded and discussions are ongoing. An upgrade is possible in Q2 or Q3, with payments being received per schedule and nothing overdue.
Management said BT-out was 'checked to a great extent' after October repricing, with net BT-out for March negligible at Rs. 100 crores. A new business retention department has been set up to reduce BT-out, which was Rs. 12,778 crores last year.
Management has guided NIM at the 2.6% level for FY27, with the Q4 FY26 call framing the outlook at 2.5-2.7% assuming normal conditions. Q1 FY27 NIM came in at 2.58%, 2 basis points below the guided lower end.
No decision has been made, with the Board considering alternative ways to reward investors. FY26 ROE stood at 14.42%, against management's goal of upwards of 15-16% over the next two to three years.