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L&T Finance Holdings to focus on retail; exit wholesale, realty finance

Appoints L&T CEO S N Subrahmanyan as chairman; Shailesh Haribhakti to remain independent director

HSBC AMC acquires L&T Finance's mutual fund unit for Rs 3,200 cr

The decision to exit wholesale lending and real estate finance is driven by difficulties experienced in repayments by borrowers, Naik said

Abhijit Lele Mumbai
As part of a business rehaul, L&T Finance Holdings (LTFH), a subsidiary of engineering major Larsen and Toubro Ltd (L&T), will focus only on retail finance and exit wholesale and realty funding business within the next two years.

S N Subrahmanyan, chief executive and managing director, L&T has been appointed as chairperson of the finance company. He replaces Shailesh Haribhakti, who would continue to be independent director on the board of the company. This is in line with L&T’s overall commitment to strengthen its presence in the services area.

A M Naik, chairman L&T said shareholders of L&T have not

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First Published: Feb 28 2022 | 7:48 PM IST

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