Published & Updated as on - 2010-03-07
KOLKATA:
Life Insurance Corporation of India (LIC) would undertake realty projects, both
commercial and residential, across the country.
Stating that LIC was the second largest real
estate asset holder in the country after the Railways, besides being the
largest investor, Chairman of LIC T S Vijayan said that LIC was looking at a
real estate income of Rs 200 crore to Rs 300 crore.
He said LIC was at a premium income of Rs
1,76,000 crore during the current fiscal. To a query, he said that LIC was
aiming at 18 per cent to 19 per cent growth in the next fiscal.
The insurer would be investing Rs 2 lakh crore
in the current fiscal, out of which 15 per cent would be in infrastructure
projects.
Laying the foundation stone of a residential
housing complex in south Kolkata on Sunday, Finance Minister Pranab Mukherjee
said that LIC was contributing to 4 per cent of the country's GDP as well as
paying hefty dividends to the exchequer.
Source: ET 7/3/10
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