L&t Finance Ltd · NSE:LTF
L&t Finance — Q3 FY22 Earnings Presentation
68 slides from L&t Finance's earnings presentation, Jan 21, 2022
Slide 1: Submission of Investor/Analyst Presentation
8 L&T Financial Services January 21, 2022 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Corporate Relations Department, Plot No. C/1 , G Block, 1st Floor, New Trading Ring , Sandra - Kurla Complex, Sandra (East), P. J. Towers, Dalal Street, Mumbai - 400 051 . Mumbai - 400 001
Slide 2: Strategy & Results Update – Q3FY22
Strategy & Results Update – Q3FY22 L&T Financial Services 1
Slide 3: Disclaimer
Disclaimer The information in this presentation is provided by L&T Finance Holdings Limited (the “Company”) for information purpose only. This presentation or any information therein may not be used, reproduced, copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or
Slide 4: LTFH 2.0
LTFH 2.0 Our Commitment TO BE A COMPANY WHICH: Sustainably delivers top quartile RoE with strengthened risk profile Has a clear Right to Win in each of the businesses Uses Data Intelligence as a key to unlock RoE Has a culture of “Results” not “Reasons” Stable and sustainable organisation built on t
Slide 5: Agenda
Agenda A Q3 in Perspective B Financial update C What worked for LTFS D ESG @ LTFS E Conclusion and Way Forward 4 @ L&T Financial Services
Slide 6: Q3FY22 in perspective
Q3FY22 in perspective • Retailisation: Retail portfolio mix at 50% (up from 40% in Q3FY21); increase in retail book QoQ by 4% Ø Rural business now the largest lending segment (38% of lending book); book growth of 12% YoY • Retail: Strong business momentum continued especially in Rural; achieved high
Slide 7: Q3FY22 in perspective
Q3FY22 in perspective • Marginal increase in GS3 QoQ from 5.74% to 5.91% on account of slippage in specific real estate account highlighted in Q2FY22 • Retail: Improved asset quality in Retail QoQ: Rural GS3 down 38 bps QoQ to 4.0% • Conservative Provisioning norms backed by enhanced collection mome
Slide 8: Q3FY22 in perspective
Q3FY22 in perspective • PBT at Rs. 452 Cr, up 29% YoY & 41% QoQ. PAT at Rs. 326 Cr in Q3FY22, up 12% YoY and 46% QoQ Profitability • Earnings before credit cost at 5.32% in Q3FY22 vs 5.45% in Q3FY21 and 4.95% in Q2FY22 • LTFH has entered into a definitive agreement with HSBC Asset Management (India)
Slide 9: Agenda
Agenda A Q3 in Perspective B Financial update C What worked for LTFS D ESG @ LTFS E Conclusion and Way Forward 8 @ L&T Financial Services
Slide 10: Q3FY22 Performance: Key business metrics
Q3FY22 Performance: Key business metrics Disbursements Liability NIMs + Fees Credit Cost & Asset size Management 9 @ L&T Financial Services
Slide 11: Increasing retailisation through...
Increasing retailisation through... FY16 Q3FY22 Retail Booksize (in Rs. Cr) 8% 3% 15% CAGR 20% 38% 42,602 11% 34% 39,312 6% 25,916 60% 14,957 14% 12% Retail - 26 % Retail - 50 % FY16 FY18 FY20 Q3FY22 Rural Retail Housing Real Estate Infrastructure Finance Defocused Business wise book split (Rs Cr) P
Slide 12: …strong growth in Retail portfolios
…strong growth in Retail portfolios Disbursements Book Rs Cr YoY (%) Rs Cr YoY (%) QoQ (%) • Relatively strong performance despite industry contraction through focus on Farm preferred dealer and OEM strategy 1,492 (4%) 11,210 16% 1% Equipment • Maintaining market share and continue focus on refinanc
Slide 13: New retail products: Consumer Loans
…with increased focus on new retail products to drive growth … Consumer Loans Consumer Loans Pilot launched in Q3FY20 1st ‘Digital Native’ Product No touch Cross sell Instant Decisioning Propensity sourcing engine Capabilities lookalikes Consumer Loans Scale Up Focus on non-STPL (Small Ticket Person
Slide 14: New retail products: SMB Loans
…with increased focus on new retail products to drive growth … SMB Loans Small and Medium Business Loans (SMB loans) Pilot launched in Q3FY22 Direct to Digitally simplified Analytics based channel journey processes decision-making Strong VALUE Target GROWTH Targeting superior PROPOSITION to the segm
Slide 15: … and moderation in Wholesale portfolios
… and moderation in Wholesale portfolios Disbursements Book Rs Cr YoY (%) Rs Cr YoY (%) QoQ (%) Infrastructure Moderate disbursements; in line with retailisation strategy 1,758 (62)% 29,185 (30%) (7%) Finance Continue to see robust collections Focus on tranche disbursements to existing projects Real
Slide 16: Strong liability profile enabling reduction in borrowing cost
Strong liability profile enabling reduction in borrowing cost Diversified Liability Mix Weighted average cost of borrowing (WAC) 4% 2% 5% 1% Bank Loan 11% 7% 7% NCD Pvt 36% 36% 7% 8.54% Retail NCD 8.43% 8.49% 8.32% CP 40% 7.82% 7.64% 44% ECB 7.65% 7.53% 7.47% Others Q3FY21 Q3FY22 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 17: NIMs + Fee & other income
NIMs + Fee & other income NIMs + Fee & other income % of average book 8.10% 7.39% 7.58% 6.95% Q3FY21 Q2FY22 Q3FY22 FY21 • Higher NIMs achieved YoY through higher retailisation (50% in Q3FY22 vs 40% in Q3FY21), strong retail business momentum and reduction in cost of borrowing • Increase in Fee incom
Slide 18: Strengthened Balance Sheet
Strengthened Balance Sheet Provisions on Non GS3 book Particulars (Rs. Cr) Total Lending Business Loan book size (excluding GS3 book) - (1) 77,426 Provision on stage 1 and stage 2 assets as per ECL model - (2) 484 Additional provisions & OTR provisions - (3) 1,699 Additional provisions & OTR provisi
Slide 19: … leading to reduction in Credit Cost QoQ
… leading to reduction in Credit Cost QoQ Credit Cost 14.50% Rs in Cr 12.50% 1,024 10.50% 900 8.50% 778 702 6.50% 653 4.50% 4.06% 4.01% 3.51% 3.24% 2.70% 2.50% 0.50% -1.50% Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Concerted collection efforts and use of data analytics is leading to normalization faster th
Slide 20: LTFH Consolidated – Summary financial performance
LTFH Consolidated – Summary financial performance Performance Summary * Q3FY21 LTFH Consolidated Summary P&L (Rs. Cr ) Q2FY22 Q3FY22 Y-o-Y (%) 3,243 Interest Income 2,823 2,787 (14%) 1,724 Interest Expense 1,444 1,418 (18%) 1,519 NIM 1,379 1,369 (10%) 347 Fee & Other Income 304 389 12% 1,866 NIM + F
Slide 21: LTFH Consolidated – Key ratios
LTFH Consolidated – Key ratios Key Ratios Q3FY21 Key Ratios Q2FY22 Q3FY22 12.85% Yield 12.73% 12.84% 6.02% Net Interest Margin 6.22% 6.31% 1.37% Fee & Other Income 1.37% 1.79% 7.39% NIM + Fee & other income 7.58% 8.10% 1.94% Operating Expenses 2.63% 2.78% 5.45% Earnings before credit cost 4.95% 5.32
Slide 22: Capital allocation and RoE bridge: Q3FY22
LTFH Consolidated – Capital allocation and RoE bridge: Q3FY22 Q3FY21 Q3FY22 PAT Business Segments (₹ Cr) PAT Net Worth RoE Y-o-Y (%) PAT Net Worth RoE 127 4,723 10.83% Rural Finance 219 6,044 15.01% 72% 121 4,534 10.85% Housing Finance 42 4,868 3.39% (66%) 137 6,616 8.33% Infrastructure Finance 114
Slide 23: Agenda
Agenda A Q3 in Perspective B Financial update C What worked for LTFS D ESG @ LTFS E Conclusion and Way Forward 22 @ L&T Financial Services
Slide 24: Sustainable business model
Sustainable business model 1. Proven business strengths 2. Strong collections framework 3. Well established liability franchise 1Ui 4. Strengthened balance sheet 23 @ L&T Financial Services
Slide 25: 1.1 Disbursements – strong growth in retail
1.1 Disbursements – strong growth in retail Focused Business All figures are in Rs Cr 10,772 9,909 Retail 7,339 7,606 5,879 5,579 Wholesale 4,893 Total 1,760 2,303 Q3FY21 Q2FY22 Q3FY22 Rural Finance Housing Finance Infrastructure Finance 6,935 5,369 4,641 4,987 1,200 1,004 762 1,758 1,347 Q3FY21 Q2F
Slide 26: 1.2.1 Highest ever quarterly retail disbursements (1/2)
1.2.1 Highest ever quarterly retail disbursements (1/2) Retail Disbursements (Rs Cr) • Industry de-grew 13% YoY, LTFS performed relatively strong 1, 800 1,554 1,492 1, 600 1,149 through focus on preferred dealer and OEM strategy 1, 400 FARM 1, 200 1, 000 • Maintained LTV within 70% range with tighte
Slide 27: 1.2.2 Highest ever quarterly retail disbursements (2/2)
1.2.2 Highest ever quarterly retail disbursements (2/2) Retail Disbursements (Rs Cr) --, ' • Continue strong traction through analytics based customer ''' '' '' propensity model; maintaining monthly run rate of ~Rs 200 Cr CONSUMER LOANS 650 700 disbursements 600 479 500 • Initiatives to augment grow
Slide 28: 1.2.3 Continue with moderate disbursements
1.2.3 Continue with moderate disbursements Wholesale .-------------------, ·---------------------------------------------------------------------------------------------------------- Disbursements (Rs Cr) INFRASTRUCTURE FINANCE Infrastructure 4,641 • Disbursements: Continued to focus on refinancing
Slide 29: 2.1 Collections
2.1 Collections Focused Business All figures are in Rs Cr 13,037 11,137 10,715 Q3FY21 Q2FY22 Q3FY22 Rural Finance Housing Finance Infrastructure Finance 5,564 5,851 5,431 4,825 2,676 2,239 2,361 2,897 3,046 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 • Maintained normalized collec
Slide 30: 2.2.1 Normalised collections across businesses
2.2.1 Normalised collections across businesses Retail Farm r---------------------------------------------- ' ~----------------------------------------------~ --------------------------------------------- -' • Concerted on-ground collections resulted in regular CE at 91.3%, well above industry perfor
Slide 31: 2.2.2 Continued steady performance
2.2.2 Continued steady performance Infrastructure Industry - Avg. Daily Power Generation* (MU/day) 14% 26% 9% Renewables 30% 27% 7,000 600 • Robust performance of renewables continue to drive growth with 9% 6,000 452 402 500 increase in power generation in Q3FY22 (YoY) 5,000 400 4,000 260 283 283 •
Slide 32: 2.2.3 Collections at pre-Covid level
2.2.3 Collections at pre-Covid level Real Estate LTFS Real Estate portfolio Re/Prepayment Trend % of FY20 quarterly avg Quarterly Average (Rs Cr) • Principal repayment / pre-payment in Q3FY22 saw 153% growth vis a vis 139% quarterly average of FY21 on back of increase in resolutions 100% 830 • PMCs/
Slide 33: 3.1 Strong liability franchise
3.1 Strong liability franchise Incremental Long Term Borrowing (Rs Cr) ~ Products NCD – Pvt. Term Loans – Term Loans – ECBs Total Period Placement PSL Non PSL FY21 10,337 3,525 1,020 746 15,628 9MFY22 4,100 3,495 1,675 - 9,270 Total 14,437 7,020 2,695 746 24,898 • Focus on raising low cost long-term
Slide 34: 3.2 AAA Credit Rating for LTFH and all its subsidiaries
3.2 AAA Credit Rating for LTFH and all its subsidiaries Credit Ratings – LTFH and its subsidiaries • Long-term ratings of LTFH and all its lending subsidiaries have been reaffirmed ‘AAA’ (Stable Outlook) by all 4 rating agencies during FY22 Ø CRISIL: Apr’21 – May’21 Ratings Update Ø CARE: Sept’21 Ø
Slide 35: 3.3 Prudent ALM
3.3 Prudent ALM As on 31st December, 2021 Structural Liquidity statement 62,346 ■ Cumulative Inflows (Rs. Cr) ■ Cumulative Outflows (Rs. Cr) 39,209 33,523 27,183 22,140 19,589 15,452 18,286 13,778 10,415 3,526 5,856 659 1,866 1-7 days 8-14 days 15 days-1 1-2 months 2-3 months 3-6 months 6-12 months
Slide 36: 4.1 Strengthened balance sheet
4.1 Strengthened balance sheet Capital Adequacy D/E Ratio 24.07% 21.82% 6.04 3.72% 3.98% 4.23 20.35% 17.84% Q3FY21 Q3FY22 Q3FY21 Q3FY22 Tier I Tier II CRAR Strengthened Capital adequacy; Tier I ratio Reduced D/E ratio from 6.04 in Q3FY21 to 4.23 in increased to 20.35% in Q3FY22 Q3FY22. Well position
Slide 37: 4.2 Asset quality
4.2 Asset quality 111 LTFH Consolidated – Asset Quality 0 64% 0 52% 0 50% 4,935 4,796 4,866 5,000 7 % 4,000 5.74% 5.91% 5.12% 3,000 2,281 2,419 1,791 4 % 2,000 2.81% 3.03% 1,000 1.92% 0 1 % Q3FY21 Q2FY22 Q3FY22 - - GS3 (Rs Cr) NS3 (Rs Cr) GS3 (%) NS3 (%) 0 PCR (%) Carrying additional provisions and
Slide 38: Agenda
Agenda A Q3 in Perspective B Financial update C What worked for LTFS D ESG @ LTFS E Conclusion and Way Forward 37 @ L&T Financial Services
Slide 39: Building a Collective Sustainable Future
Building a Collective Sustainable Future Announced commitment to achieve Carbon and Water Neutrality Carbon Neutral FY35 Water Neutral FY22 Energy conservation and efficiency measures Water conservation and efficiency initiatives Renewable energy solutions in operations Reuse and Recycle water in op
Slide 40: Building a Collective Sustainable Future
Building a Collective Sustainable Future Environment Social Governance Committed to environmental Investing in stakeholder relationships Ensuring robust governance mechanism stewardship by responsible business through transparent, ethical and through accountability, compliance and conduct equitable
Slide 41: Agenda
Agenda A Q3 in Perspective B Financial update C What worked for LTFS D ESG @ LTFS E Conclusion and Way Forward 40
Slide 42: Conclusion
Conclusion Strong momentum in retail Strengthened balance sheet businesses • Achieved highest ever quarterly retail disbursements • Retailisation at 50%; new retail products to further accelerate • Improved asset quality in retail; Rural GS3 down by 38 bp retailisation QoQ • Rural business now the l
Slide 43: Way forward
Way forward Strategic Intent Future readiness with cutting edge tech Sustainable growth through Sustained profit & growth ESG engine through Retailisation To be a leading Tech-enabled Retail company with Customer at the core Shift from being a Shift focus from “Diversified Financial Services” to “Pr
Slide 44: Way forward
Way forward Strategic Deliverables Long term Goals – FY26 • Continue to be dominant player in Rural • Build urban franchise 80% Retailisation • Increase product penetration through Cross sell & Up sell • Capital / Asset light model in Wholesale 25% Retail • Growth from existing products at CAGR 10-1
Slide 45: Appendix
Appendix CG) L&T Financial Services
Slide 46: RBI Circular on Harmonization of IRACP norms
RBI Circular on Harmonization of IRACP norms November 12, 2021 Regulations • Aims to ensure uniformity in implementation of IRACP norms and harmonize treatment of accounts under NPAs across Banks and NBFCs • If payments not received on the due date, loans to be tagged as overdue / NPA on the same da
Slide 47: Sale of Investment Management business
Sale of Investment Management business 46
Slide 48: Sale of Investment Management business
Sale of Investment Management business Business highlights Journey from an AUM • LTIM is the 13th largest Asset Management Company (AMC) in India and offers a basket of equity, fixed income and hybrid schemes to both retail and institutional investors of a few thousand crores to • The company has bu
Slide 49: AUM disclosure
AUM disclosure Mutual Fund Assets under Management (Rs Cr) Quarter ended Dec, 2020 Quarter ended Sep, 2021 Quarter ended Dec, 2021 Fund Type AUM1 Avg. AUM2 AUM1 Avg. AUM2 AUM1 Avg. AUM2 Pure Equity 29,803 28,697 34,304 33,356 34,644 34,533 Hybrid 9,061 8,883 13,232 13,226 12,215 12,663 Fixed Income
Slide 50: Financial Update
Pe Financial Update 49 ® L&T Financial Services
Slide 51: Lending Business – Business wise disbursement split
Lending Business – Business wise disbursement split Disbursement Q3FY21 Segments (Rs. Cr ) Q2FY22 Q3FY22 Y-o-Y (%) 1,554 Farm Equipment 1,149 1,492 (4%) 1,652 TW Finance 1,244 1,637 (1%) 2,072 Micro Loans 2,116 3,157 52% 92 Consumer Loans 479 650 - 5,369 Rural Finance 4,987 6,935 29% 431 Home Loans
Slide 52: Lending Business – Business wise book split
Lending Business – Business wise book split Book Q3FY21 Segments (Rs. Cr) Q2FY22 Q3FY22 Y-o-Y (%) 9,704 Farm Equipment 11,081 11,210 16% 7,014 TW Finance 6,935 7,306 4% 11,824 Micro Loans 11,309 11,955 1% 285 Consumer Loans 1,173 1,696 - 28,828 Rural Finance 30,497 32,166 12% 7,685 Home Loans 7,344
Slide 53: Rural Finance – Summary financial performance
Rural Finance – Summary financial performance Performance Summary Q3FY21 Summary P&L (Rs. Cr ) Q2FY22 Q3FY22 Y-o-Y (%) 1,376 Interest Income 1,322 1,384 1% 454 Interest Expense 417 433 (5%) 922 NIM 905 950 3% 153 Fee & Other Income 117 148 (3%) 1,075 NIM + Fee & other income 1,021 1,098 2% 329 Opera
Slide 54: Rural Finance – Key ratios
Rural Finance – Key ratios Key Ratios Q3FY21 Key Ratios Q2FY22 Q3FY22 18.90% Yield 17.55% 17.31% 12.56% Net Interest Margin 12.01% 11.89% 2.08% Fee & Other Income 1.55% 1.85% 14.65% NIM + Fee & other income 13.55% 13.74% 4.49% Operating Expenses 5.19% 4.81% 10.16% Earnings before credit cost 8.37% 8
Slide 55: Rural Finance - Asset quality
Rural Finance - Asset quality Rural - Asset Quality 90% 75% 75% 1 4 % 1 2 % 1 0 % 1,304 1,258 8 % 988 6 % 4.38% 4.00% 3.50% 4 % 331 315 103 2 % 1.15% 1.03% 0.38% 0 % Q3FY21 Q2FY22 Q3FY22 GS3 (Rs. Cr) NS3 (Rs. Cr) GS3 (%) NS3 (%) PCR (%) Carrying additional provisions & OTR provisions of Rs. 1,248 Cr
Slide 56: Housing Finance – Summary financial performance
Housing Finance – Summary financial performance Performance Summary Q3FY21 Summary P&L (Rs. Cr ) Q2FY22 Q3FY22 Y-o-Y (%) 797 Interest Income 662 650 (18%) 471 Interest Expense 407 400 (15%) 325 NIM 255 250 (23%) 30 Fee & Other Income 18 30 (1%) 355 NIM + Fee & other income 272 280 (21%) 81 Operating
Slide 57: Housing Finance – Key ratios
Housing Finance – Key ratios Key Ratios Q3FY21 Key Ratios Q2FY22 Q3FY22 11.75% Yield 11.58% 11.50% 4.80% Net Interest Margin 4.45% 4.42% 0.44% Fee & Other Income 0.31% 0.52% 5.24% NIM + Fee & other income 4.76% 4.95% 1.19% Operating Expenses 1.74% 1.89% 4.05% Earnings before credit cost 3.02% 3.06%
Slide 58: Housing Finance - Asset quality
Housing Finance - Asset quality Housing - Asset Quality 32% 22% 22% 1,800 1,726 1 2 % 1,700 1,600 1,500 1,400 1,333 1,341 1,300 9 % 1,200 1,034 7.94% 1,100 1,000 900 5.98% 6 % 800 6.28% 700 600 4.70% 500 400 329 3 % 300 222 200 1.27% 100 0.86% 0 0 % Q3FY21 Q2FY22 Q3FY22 GS3 (Rs. Cr) NS3 (Rs. Cr) GS3
Slide 59: Infrastructure Finance – Summary financial performance
Infrastructure Finance – Summary financial performance Performance Summary Q3FY21 Summary P&L (Rs. Cr ) Q2FY22 Q3FY22 Y-o-Y (%) 979 Interest Income 787 703 (28%) 704 Interest Expense 563 535 (24%) 276 NIM 223 167 (39%) 78 Fee & Other Income 63 95 23% 353 NIM + Fee & other income 286 263 (26%) 48 Ope
Slide 60: Infrastructure Finance – Key ratios
Infrastructure Finance – Key ratios Key Ratios Q3FY21 Key Ratios Q2FY22 Q3FY22 9.77% Yield 9.52% 9.43% 2.75% Net Interest Margin 2.70% 2.24% 0.78% Fee & Other Income 0.76% 1.28% 3.53% NIM + Fee & other income 3.46% 3.52% 0.48% Operating Expenses 0.55% 0.66% 3.04% Earnings before credit cost 2.91% 2.
Slide 61: Infrastructure Finance - Asset quality
Infrastructure Finance - Asset quality Infrastructure Finance- Asset Quality 67% 56% 57% 1 2 % 2,452 1 0 % 8 % 1,425 1,416 6.14% 6 % 4.77% 5.10% 812 4 % 626 605 2 % 2.12% 2.15% 2.25% 0 % Q3FY21 Q2FY22 Q3FY22 GS3 (Rs. Cr) NS3 (Rs. Cr) GS3 (%) NS3 (%) PCR (%) 60 GS3 - Gross Stage 3; NS3 - Net Stage 3;
Slide 62: Infrastructure Finance – Portfolio wise split
Infrastructure Finance – Portfolio wise split D I Sectors (Rs. Cr) Q3FY21 Q2FY22 Q3FY22 Y-o-Y (%) S B Renewable Power 1,835 1,015 1,546 (16%) U R Roads 1,592 154 188 (88%) S E Power Transmission 1,150 161 - (100%) M E Others1 64 17 24 (62%) N T Total 4,641 1,347 1,758 (62%) Q3FY21 Q2FY22 Q3FY22 Sect
Slide 63: Product profile and Geographies
Product profile and Geographies ATS ATS Avg Tenor BUSINESS Major Geographies on o/s book on qtrly disb on disb Farm UP, MP, Karnataka, TN, Bihar, Rs 3.0 Lakhs Rs 4.3 Lakhs 45 months Equipment Maharashtra Two WB, Maharashtra, Gujarat, Assam, UP Rs 40k Rs 74k 26 months Wheeler Rural Micro Loans Rs 23k
Slide 64: LTFS branch footprint
LTFS branch footprint 8 2 As of 31st December, 2021 10 1 No. of States & Union 21 & 1 9 Territories 15 4 9 No. of branches 198 3 13 No. of Micro Loans meeting 16 27 1 1,502 centers* 6 7 No. of employees 24,387 24 10 1 11 12 6 3 63 *All these are in rural areas
Slide 65: Corporate Social Responsibility
Corporate Social Responsibility Directly linked to creating value Digital Sakhi – Flagship Programme Trained 11,46,500+ community members on Digital Finance Provided digital support services to 51,200+ beneficiaries through Digital Seva Kendras Reached out to 4,54,900+ community members to create aw
Slide 66: Board comprises majority of Independent Directors
Board comprises majority of Independent Directors Board of Directors S. V. Haribhakti, Non-Executive Chairman, Independent Director Dinanath Dubhashi, Managing Director & CEO o Over 40 years of experience in audit, tax and consulting. o Over 30 years of experience across multiple domains in BFSI suc
Slide 67: Management Team
Management Team Dinanath Dubhashi Managing Director & CEO 31 yrs exp, BNP Paribas, SBI Cap, CARE Ratings Sachinn Joshi Kailash Kulkarni Sunil Prabhune Raju Dodti Group CFO CE - Investment Management CE – Rural & Housing Finance CE – Wholesale Finance 30 yrs exp, Aditya Birla Group Head - Marketing G
Slide 68: Deliver sustainable RoE
Deliver sustainable RoE Registered Office: L&T Finance Holdings Limited Brindavan, Plot No 177 CST Road, Kalina Santacruz (E), Mumbai 400 098 www.ltfs.com T +91 22 6212 5000/5555 CIN: L67120MH2008PLC181833 67