A.M Naik,
L&T Financial Services
L&T Finance Holdings (LTFH) is a leading, well-diversified Non-Banking Financial Company (NBFC) with a focused range of financial products and services across rural, housing and infrastructure finance along with mutual funds. The company is promoted by Larsen & Toubro Ltd. (L&T), one of the largest conglomerates in India, with interests in engineering, construction, electrical & electronics manufacturing & services, IT and finance L&T Financial Services (LTFS) is the brand name of LTFH and provides financial solutions to a diverse set of customer base through its lending and non-lending businesses.
L&T Financial Services (LTFS) is the brand name of LTFH and provides financial solutions to a diverse set of customer base through its lending and non-lending businesses. The lending business comprises Rural Finance (Farm Equipment Finance, Two-Wheeler Finance, Micro Loans and Consumer Loans), Housing Finance (Home Loans, Loan against Property and Real Estate) and Infrastructure Finance. Today, LTFS is No 1 Farm Equipment Financier, amongst the top 3 Two- Wheeler financiers and remains the third largest micro loans provider in India.
The rural finance portfolio of the Company not only helps generate sustainable livelihoods but is also in sync with the government’s agenda of boosting agricultural output and doubling farmers’ income by 2022. The Infrastructure finance business is a leading arranger and financier of renewable energy in India and the focus on ‘scalability and sustainability’ steers the Company towards a long-term and sustainable portfolio of opportunities in Renewables, Roads and Transmission.
The non-lending business of LTFS comprises the mutual fund business that taps into India’s savings potential by providing investment avenues and channelizing them into productive financial instruments.Acknowledging the resilient business model, L&T Financial Services has been rated AAA by four key rating agencies – CRISIL, ICRA, CARE and India Ratings. This is the highest credit rating for an NBFC.
Over the last few years, LTFS has successfully harnessed the power of digital and data analytics to enhance portfolio quality, achieve scale, increase cost efficiency and build market leading products.With more than 22,000 employees, the company today services close to 1.3 Cr customers through 1600+ touch points across 21 states.
Despite the challenging external environment, LTFS, backed by the inherent strength of the business model, prudent business initiatives & proactive response mechanism, continues on its path of building a stable and sustainable organization built on a foundation of assurance for all stakeholders.
The idea of social responsibility to empower the less privileged and enhance their livelihoods is at the heart of the company’s corporate culture. At LTFS, the mission is to reach out to marginalized farmers and women micro-entrepreneurs in the rural communities and work towards rejuvenating their ecosystems thereby creating sustainable livelihoods and enabling financial inclusion.
Digital Sakhi is the flagship CSR programme of the company which equips rural women with the skills and knowledge to confidently impart digital financial training in their communities and nurture an ecosystem of digital financial transactions.
In the wake of the Covid-19 outbreak, the company marched ahead in its duty towards the nation. Apart from donating Rs. 20 Cr to the PM Cares Fund, LTFS undertook several CSR initiatives by providing more than 5,000 hygiene kits to the Mumbai Traffic Police for their safety and well-being, distributing ration to stranded migrant laborers in Maharashtra, enabling villagers to make online transactions and helping thousands of underprivileged people avail the monetary benefits of various government schemes.
In recognition of its social efforts, business processes and excellence, the LTFS has won various awards and accolades over the years and was recently recognized as the Socially Aware Corporate of the Year at Business Standard Social Excellence Awards 2019, for the scale and gender-inclusive work of its digital-literacy initiative in rural India, Digital Sakhi. The Company was also recognized by FICCI through the Corporate Social Responsibility Award – Women Empowerment.
L&T Financial Services takes its ESG responsibility seriously and was recently certified a constituent company in the FTSE4Good Index Series. The FTSE4Good Index series is designed to identify companies that demonstrate strong environmental, social and governance practices measured against globally recognized standards.LTFH is publicly listed in both the exchanges of India – BSE & NSE and the Company remains committed to creating sustainable value for all stakeholders.
