Lokesh Mundhra joined LIC Housing Finance as CFO to replace Sudipto Sil after the company achieved financial success and executed its leadership strategy changes.

The banking institution LIC Housing Finance has selected Lokesh Mundhra to lead as its new Chief Financial Officer starting April 17 2025. The board members approved this move as a transformative leadership step for India's largest housing finance institution.

Mundhra enters the role of CFO at LIC Housing Finance after spending 32 years in LIC of India's multiple strategic departments ranging from Finance & Accounts to Legal and Personnel along with Investments. Over the last period he worked in investmensts at the institution where he developed proficiency in operations together with monitoring and front-office activities.

Sudipto Sil who served as the company's CFO previously received transfer and Marketing Head for Western Region designation from the board. His new office is located in Mumbai.

Mundhra will lead LIC Housing Finance's financial operations while developing strategies to support growth at the organization niveau as CFO. The organization achieved a 22.7% yearly growth in consolidated net profit to ₹1,434.84 crore during Q3 FY25 while total income rose by 3.9% to ₹7,070.51 crore.

The subsidiary LIC HFL Financial Services is enabling LIC Housing Finance to grow its service offerings as the company continues advancing in Dubai through its broad network of operations. The new CFO appointment brings the potential to make financial leadership and operational efficiency in the dynamic housing market stronger.