Company Update : L&T Finance By Motilal Oswal Financial Services Ltd
Retail loans grew ~23% YoY; retail mix now at ~97%
Wholesale loans could have potentially declined to ~INR29b
* 3QFY25 retail disbursements were up ~4% YoY and flat QoQ at INR152b (PY: INR145b).
* Rural business disbursements declined 16% YoY. Farmer Finance disbursements grew 23% YoY, Urban Finance disbursements grew 21% YoY, and SME disbursements rose ~28% YoY.
* Retail loan book grew 23% YoY and 4% QoQ to INR922b.
* Retail Loan mix increased to ~97% (PQ: 96%) and well ahead of Lakshya FY26 retail mix target of over 80%. This implies that the wholesale book could have declined to ~INR29b (PQ: ~INR37b).
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