L&T Finance Q3 Business Updates: Retail Loan Book Up 23% At Rs 92,200 Crore, Urban Finance Leads
L&T Finance said its retailisation is estimated at 97% in the third quarter of this fiscal, as compared to 91% in the year-ago period.
L&T Finance Ltd., the lending arm of the Larsen & Toubro Group, saw a 23% year-on-year rise in its retail loan book to Rs 92,200 crore in the quarter ended December 2024, as per quarterly business updates released on Friday.
The retail loan book of the non-banking financial company was Rs 74,759 crore in the corresponding quarter last year.
Retail disbursements jumped 4% to Rs 15,170 crore. The maximum loans were issued under the urban finance segment at Rs 6,520 crore, higher as compared to Rs 5,386 crore in the same quarter of last fiscal.
The loans issued under the farmer finance segment also jumped to Rs 2,490 crore from Rs 2,027 crore in the December 2023 quarter. The SME finance business rose from Rs 965 to Rs 1,240 crore.
On the other hand, the rural business finance segment dropped to Rs 4,590 crore from Rs 5,475 crore in the year-ago period.
L&T Finance said its retailisation is estimated at 97% in the third quarter of this fiscal, as compared to 91% in the year-ago period.
The business update was shared after market hours. The stock settled 0.35% higher at Rs 143.45 apiece on the BSE, compared to a 0.9% decline in the benchmark Sensex.
L&T Finance's shares have declined by 14.45% over the past 12 months.
Out of 20 analysts tracking the stock, 15 have a 'buy' rating, one suggests a 'hold,' and three recommend a 'sell.' The average of 12-month analysts' price target of Rs 180 implies a potential upside of 25%.
