India-based LIC Housing Finance Ltd, a subsidiary of Life Insurance Corporation of India and one of the country’s largest housing finance companies, has appointed Lokesh Mundhra as its new Chief Financial Officer (CFO) effective April 17, 2025. The appointment comes as former CFO Sudipto Sil is reassigned to lead marketing for the Western Region based in Mumbai, Maharashtra. Mundhra brings over three decades of experience with LIC, contributing significantly to key financial operations, including LIC of India’s IPO and listing process.
LIC Housing Finance Ltd, one of India’s largest housing finance companies and a subsidiary of Life Insurance Corporation of India, has appointed Lokesh Mundhra as its new Chief Financial Officer (CFO), effective April 17, 2025. The announcement follows a leadership reshuffle within the company.
The company, headquartered in Mumbai, Maharashtra, confirmed the development through a regulatory filing. It stated that the current CFO, Sudipto Sil, has been transferred and will now serve as the Marketing Head for the Western Region, also based in Mumbai.
Lokesh Mundhra, a Chartered Accountant by qualification, brings with him over 32 years of experience at LIC of India, having worked across multiple departments including finance and accounts, legal, personnel, estates, and more recently, investments. His significant contributions include playing a key role in the successful IPO and stock market listing of LIC of India.
“His extensive exposure and leadership in financial operations and strategic transactions make him a fitting choice for the role of CFO at LIC Housing Finance,” the company noted in its official statement.
On the Bombay Stock Exchange (BSE), shares of LIC Housing Finance closed at ₹604.45, marking a 1.74% increase over the previous trading session, reflecting investor confidence in the appointment.
With this change, LIC Housing Finance aims to strengthen its financial leadership amid an evolving housing finance landscape in India, leveraging Mundhra’s deep expertise in financial structuring and regulatory compliance.
