R Ramachandran Nair, Director and CEO of LIC Housing Finance, said that the company was likely to raise Rs 600 crore via Qualified Institutional Placement (QIP) during the second quarter of FY2010.
He spoke following the announcement of the company's first quarter results. The company's Q1 standalone net sales were up at Rs 745.1 crore versus Rs 605.4 crore. Nair said the company’s Q1 provisioning stood at 57% versus 48% last quarter while its provisions stood at Rs 250 crore versus Rs 244 crore in the previous quarter.
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