LIC Housing 'Examining' Opportunities in Singapore, Malaysia
CHENNAI: LIC Housing Finance these days said its 'examining' opportunities within the Singapore and Malaysian markets because it seeks to expand its overseas presence.
"We have gotten demands from Singapore and Malaysia. We’ll examine it...", LIC Director and Chief govt V K Sharma told reporters here.
The company within the last 2 years had discovered offices within the Kuwait and Dubai market, he said adding that workplaces were converted into 'representative' office.
Sharma, who inaugurated the fifteenth edition of housing expo "Ungal Illam 2012", said southern region was major contributor for the corporate accounting for a complete business of Rs 4,800 crore.
"Southern region is one in all our strengths. Quite 20 per cent of our business comes from this region... it's regarding Rs 4,800 crore of the Rs 20,000 crore...(registered last year)..", he said.
Noting that the market has become volatile with shortage of provide and demand, he said, "there is acute shortage of reasonable homes.. the demand has not decelerated, the provision has decelerated.. this is often making a peculiar state of affairs..."
"In the business (real estate) market, there's a transparent cut slowdown...", he said, adding that the costs of land in tier II and III cities have gone up substantially within the last 3 years.
"If there would are an honest variety of provide, then the competition pressure would have kept the costs low...that is not there...", he said.
"Our total asset size is Rs 65,000 crore, out of that our retail loan is 97 per cent and also the remaining 3 per cent is for the builders, he said. Of course, it offers a pressure on our margin. We tend to are attempting to create it up", he said.
About the expo, he said regarding 200 builders are taking part within the three-day event.
He said LIC Housing Finance is hoping to grow at 20 per cent this year and has set a disbursal target of Rs twenty 2,000.
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