Page 3 - L&t Finance

L&T Finance shares climb 3% post robust Q1 show; net profit jumps 29% YoY

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

L&T Finance planning to resume retail bond issuance in H2FY25: CFO Joshi

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

L&T Finance Q1 results: Consolidated net up 29% on healthy margins, fees

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

L&T Finance extend gains as Morgan Stanley buys stake; up 8% in two days

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

L&T Finance's rural business finance book reaches Rs 25,000 crore

Non-bank lender aims to scale up loan against properties

Stocks to Watch, June 13: L&T Finance, PNB Housing, 360 One WAM, Bondada

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 aims at 25% CAGR over next few years, retail lending in focus

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 ...

L&T Finance plans to increase short term, ECB fundraise in FY25

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

L&T Finance Q4 results: Net profit up 11%, NIM plus fees stands at 11.15%

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

L&T Finance Q4 results: PAT up 11% at Rs 554 cr, retail book grows 31%

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

L&T Finance, L&T Infra Credit, 5 NBFCs surrender registration certificates

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 ...

L&T Finance announces completing merger of 3 subsidiaries with itself

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

L&T Finance Holdings completes merger of 3 of its subsidiaries with itself

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

L&T Finance to trim bank borrowing to whittle spike in cost of funds

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

L&T Finance inks pact with Asian Development Bank for $125 mn funds

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

L&T Finance gets $125 mn loan from ADB to support MSMEs, farmers

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 .

RBI puts Rs 2.5 cr penalty on L&T Finance for non-compliance of NBFCs norms

The Reserve Bank of India on Friday said a penalty of Rs 2.5 crore has been imposed on L&T Finance Ltd for non-compliance with certain norms concerning non-banking financial companies (NBFCs). After examination of reports following statutory inspection of the company, the RBI said it was revealed that the NBFC did not disclose to its retail borrowers, the gradation of risk and rationale for charging different interest rates to different categories of borrowers in the loan application form/sanction letter. It also failed to notify the change in penal interest rate to borrowers, when it charged penal interest rate higher than what was communicated at the time of sanction, the RBI said. "After considering the company's reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, the RBI came to the conclusion that the charge of non-compliance... was substantiated and warranted imposition of monetary penalty, to the extent of such ...

L&T Finance to provide up to 100% loan on Ather EV's on-road price

The amount of loan being financed will be determined based on the credit profile of the customer of Ather Energy

RBI releases list of NBFCs in upper layer under scale-based regulations

In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years

Bain Capital slashes stake in L&T Finance Holdings by more than half

BENGALURU (Reuters) - Investment firm Bain Capital sold more than half its stake in non-banking financial company L&T Finance Holdings in two block deals, data from BSE India exchange showed on Tuesday.