 "L&T Finance Holdings set to slash defocused loans to Rs 1,000 crore")
L&T Finance Holdings (LTFH) expects to shrink loan book from defocused businesses from Rs 4,651 crore in September 2020 to Rs 1,000 crore by March 2022 as part of rejig of its assets portfolio.
On the loan portfolio from defocused businesses, Dinanath Dubhashi, managing director (MD) & chief executive officer (CEO), LTFH, said 90 per cent of it is good. “It is not that all good books we have to unwind. It will reduce to around Rs 1,000 crore level in another 18-months,” he said.
According to the annual report for FY20, the company reduced its defocused book by 50 per cent year-on-year from Rs 10,365 crore in 2018-19 to Rs 5,230 crore in 2019-20.
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