L&T Finance Ltd. Celebrates 30 Years Of Trusted Excellence.

Mumbai, Maharashtra, 30th of November, 2024 : L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFC), is proud to announce the completion of 30 years of trusted excellence. It was started in 1994; the Company has established itself as a diversified retail NBFC. LTF was publicly listed on BSE and NSE in 2011.

LTF leads in three Product Finance segments namely, Rural Business Finance, Farm Equipment Finance, and Two-wheeler Finance. This success is attributed to the Company’s strong pan-India retail franchise, with a distribution network reaching around 2 lakh villages through more than 1,900 rural meeting centers and over 167 urban branches, supported by over 13,200 distribution points developed over the last decade. LTF serves a substantial customer base of over 2.5 crore individuals, employing effective cross-selling and up-selling strategies to enhance customer engagement and deliver tailored financial solutions. 

As of the second quarter of the current financial year, its customer portfolio is evenly split, with 47% in rural areas and 53% in urban areas. LTF has more than 35,000 employees and is present in 20 states and two union territories. LTF offers 100% paperless journey and digital loan disbursals across urban and rural areas. 

Speaking on the occasion, Mr. Sudipta Roy, Managing Director & CEO at LTF said, “At LTF we have leveraged digital transformation to create seamless and accessible financial solutions for our customers, whether they reside in urban centres or remote villages. As we look forward, our focus will be more granular, refreshing the product category, enhancing compliance structure, operations, culture building, etc. We are excited to continue our mission of enhancing financial accessibility and literacy while consistently pushing the boundaries of customer experience.”

As of the second quarter, LTF recorded a Profit After Tax of Rs. 696 Crore (Consolidated), up 17% Year-on-Year (YoY). The retail book stood at Rs. 88,975 Crore, reflecting a YoY growth of 28%. Also, the Company has recorded quarterly retail disbursements of Rs. 15,092 Crore, up 12% YoY.

LTF holds an ‘AAA’ rating from CRISIL, ICRA, CARE, and India Ratings, highlighting its strong financial stability and creditworthiness. Additionally, it is classified as an upper-layer NBFC according to the RBI classification. LTF has also been honoured as a Great Place to Work® in 2024. Through its CSR initiatives focused on Digital and Financial Inclusion, LTF has reached over 46 lakh community members through more than 2,000 Digital Sakhis.

 About L&T Finance Ltd. (LTF)

L&T Finance Ltd. (LTF) (www.ltfs.com), formerly known as L&T Finance Holdings Ltd., (LTFH) is a leading Non-Banking Financial Company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the Company has been rated ‘AAA’ – the highest credit rating for NBFCs – by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social, and Governance (ESG) rating providers for its sustainability performance. The Company has been certified as a Great Place To Work® and has also won many prestigious awards for its flagship CSR project – “Digital Sakhi”- which focuses on women’s empowerment and digital and financial inclusion. Under Right to Win, being in the ‘right businesses’ has helped the Company become one of the leading financiers in key Retail products. The Company is focused on creating a top-class, digitally enabled, Retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product focus to customer focus and establish a robust Retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company’s strategic roadmap – Lakshya 2026. The Company has around 2.5 Crore customer database, which is being leveraged to cross-sell, up-sell, and identify new customers.

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