LIC explores dedicated company for its over ₹60,000cr real estate
LIC is planning to explore the option of setting up a dedicated company just for handling its massive over ₹60,000 crore real estate portfolio.
The idea is to make these properties work harder for both policyholders and shareholders.
CEO R Doraiswamy summed it up: "We look at each piece of real estate as an investment. As part of the asset, we expect each property to contribute toward the returns for the policyholders as well as shareholders."
LIC eyes subsidiary to boost returns
Right now, LIC's estates department manages the properties, but a proposed separate subsidiary would streamline things, like improving buildings they use themselves for better branding and rethinking leased spaces to earn more.
Financially, LIC has been on a roll since its 2022 IPO: shareholders saw a 1:1 bonus announced and a higher dividend recommended, plus net profit jumped 23% last quarter.