L&T Finance

Long build up is seen in the L&T Fin Futures, where we have seen 18 per cent rise in the open interest with price rising by 2.5 per cent

Retail loan growth may slow down to 15-20% from over 25%

Warns on persisting headwinds; may calibrate growth; credit costs rise

L&T Finance on Wednesday said it is expecting a decent uptick in automobile demand during the festive season on the back of good monsoon and is hopeful of a reasonable improvement in the microfinance segment in the second half of the current fiscal. "Of late, there are reports that the auto industry is seeing some slowdown, but I am very hopeful that on the back of good monsoon that we see, I think during the festive period, we will see a decent uptick both in terms of two-wheelers as well as four-wheelers," L&T finance Managing Director and Chief Executive Officer Sudipta Roy told PTI. Speaking on the sideline of the three-day Global Fintech Festival, Roy said in terms of loan disbursements, overall, the two-wheeler segment is doing very well, adding that, "post Diwali, the demand has been relatively robust. We have been seeing ... our disbursements going somewhere between 15-20 depending upon the region." Stating that the microfinance industry is currently going through a ...

L&T Finance shares soared up to 3 per cent, at Rs 189.85 per share on the BSE in Thursday's intraday deals

Firm stepping up borrowing through Commercial Paper to make the most of soft interest rates

Its NIM plus fees and other income improved by 144 basis points to 11.08 per cent in Q1FY25 from 9.64 per cent in Q1FY24, LTF said in a statement

Shares of L&T Finance extended their gains on Friday, rising 4.5 per cent at Rs 183.20 per share on the BSE in Friday's early morning deals

Non-bank lender aims to scale up loan against properties

Stocks to Watch, Thursday, June 13, 2024: According to reports, investment firm Bain Capital and BNP Paribas will likely sell shares worth Rs 1,500 crore of L&T Finance, through block deals today

L&T Finance Ltd is aiming at a 25-per cent compound annual growth rate (CAGR) over the next few years, with focus on consolidating its retail lending business, a top company official said on Wednesday. The financial services arm of Larsen & Toubro plans to completely exit the wholesale segment by 2026, transforming itself into a 100 per cent retail non-banking financial company (NBFC) from nearly 94 per cent at present. The company's new offering Complete Home Loan' signifies a fresh impetus to its mortgage business, he said. The lender also expects this product to surpass microfinance in terms of book size in the near future. "Fueled by the revival in credit offtake, we will maintain our robust growth trajectory of 25-per cent CAGR over the next few years. With the larger ticket size of home loans, this portfolio is expected to surpass microfinance assets in the coming years," MD & CEO of L&T Finance Sudipta Roy said. "However, even if the mortgage book size ...

Company aims for strategic adjustments to benefit from the anticipated softening of interest rates

As for full financial year FY24, net profit rose by 43 per cent to Rs 2,320 crore as against Rs 1,623 crore on FY23

The company reports strong retail franchise with a retail book size of Rs 80,037 crore

L&T Finance, L&T Infra Credit, and five other non-banking financial companies (NBFCs) have surrendered their certificates of registration to the Reserve Bank of India. Following this, the central bank cancelled their Certificate of Registration (CoR) as they ceased to be a legal entity after amalgamation, merger, dissolution or voluntary strike-off. In December last year, L&T Finance Holdings (LTFH) had announced the completion of merger of subsidiaries L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself. The other five NBFCs which surrendered their CoR are Marudhar Food & Credit Ltd, Creative Intra Ltd, Jinvani Trading & Investment Company, Manjushree Fincap, and Shruti Financial Services. In another statement, the RBI said it has cancelled CoR of four NBFCs -- Nimisha Finance India, R.M.B. Finance Company, Suyash Finovest, and Kamdhar Leasing and Finance Ltd. These four companies cannot transact the business of a non-banking ...

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

LTFH also announced the appointment of Amresh Kumar as its chief risk officer for two years effective from December 4

Leading non-banking player L&T Finance expects its cost of funds to marginally rise by 12-14 basis points due to the recent RBI action related to unsecured credit, and also plans to reduce borrowings from banks. L&T Finance has said it will cut its borrowings from banks and instead increase its loans from the markets through instruments such as NCDs in response to the Reserve Bank's hiking of the risk weightage on unsecured consumer loans. "To contain the impact of this on margins, the company will increase its borrowings from markets through debt securities (NCDs), Commercial Papers (CPs) and even external commercial borrowings, L&T Finance Managing Director and Chief Executive Dinanath Dubhashi said. Further, it will reduce borrowing from banks, which is around 33 per cent of its total loans, Dubhashi said on the sidelines of the national banking summit Fibac here. "We see the cost of funds rising 12-14 bps following the RBI action and to tide over the impact of the same

Out of the proceeds 40 percent of it are allocated for women borrowers, while the rest will support farmers, and MSMEs, as well as loans to purchase new two-wheeled vehicles, the release stated

Non-banking financial company L&T Finance on Thursday said it has signed a USD 125 million loan pact with the Asian Development Bank (ADB) to support financing in rural and peri-urban areas in India, particularly for women borrowers. The funding comprises a loan of up to USD 125 million from ADB, and an agreement to syndicate an additional USD 125 million co-financing from other development partners, L&T Finance said in a statement. At least 40 per cent of the proceeds is allocated for women borrowers, while the rest will support farmers, micro, small and medium-sized enterprises (MSMEs), and loans to purchase new two-wheelers, among others, it said. Microloans, farm equipment loans, two-wheeled vehicle loans, and MSME loans have been identified as segments with strong growth potential anticipated in the medium term, it added. By focusing on lending in rural and peri-urban areas of lagging states in India, the project is strategically aligned with the goals of the Ministry of .