L&T Finance Achieves Impressive Retail Growth in Q3 2023
Newzdaddy Business Updates
L&T Finance Holdings Ltd. (LTFH), a big financial company, has shared some great news. They say that their retailisation portfolio, which means the part of their business related to regular people, has grown a lot. In the three months ending on September 30, 2023, it was at 88%. Last year, during the same time, it was only 58%. This means they are doing even better than they planned for the year 2026 when they aimed to have over 80% of their business in retail.
They also tell us that they gave out loans to regular people worth Rs 13,490 crore during this quarter. That’s 32% more than what they gave last year during the same time.
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Here’s how they gave out loans in different parts of their business in this quarter:
- They gave Rs. 1,530 crore in loans to farmers, up from Rs. 1,304 crore last year.
- For rural businesses, they gave Rs. 5,740 crore, which is more than the Rs. 4,418 crore they gave last year.
- In cities, they gave out Rs. 4,860 crore in loans, up from Rs. 4,166 crore.
- Small and medium-sized businesses got Rs. 870 crore in loans, a big jump from the Rs. 201 crore last year.
The total amount of loans they have given out in the retail part of their business is now Rs. 69,400 crore. That’s 33% more than what it was last year.
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So, L&T Finance is doing really well in giving loans to regular people, and they are way ahead of their target for 2026.
