Guidance ledger · Q4 FY26

LIC Housing Finance Ltd LICHSGFIN

3 revisions on record · 3 lowered · 0 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered AUM/disbursement growth guidance Q1 FY26 → Q4 FY26

~~double-digit growth in book and disbursements (FY26 entry stance)~~ → 4.4% FY26 outturn; 10-12% FY27 target with four new growth levers (co-lending, aggregators, affordable vertical, marketing headcount)

“Yes, growth in last year has been muted, 4.4% was the growth for the full financial year, largely contributed by intense pressure in the housing finance industry.”

↓ lowered NIM range guidance Q1 FY26 → Q4 FY26

~~2.6% to 2.8% (FY26 guidance given at beginning of year)~~ → 2.5% to 2.7% (FY27 guidance, i.e. lower floor and lower ceiling)

“for the year, margin growth -- sort of NIM of 2.5% to 2.7% is what we are aiming to achieve.”

↓ lowered Rewriting rate offered to existing customers Q1 FY26 → Q4 FY26

~~flat 8.75% (Q1FY26 active offering)~~ → lending rate plus 50bp approximately 8%, then further competitive pressure in FY27

“rewriting almost INR40,000 crores of business got rewritten where the rates got reset. And we had to reduce our rewriting rates also to keep them in line with the market.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.