L&T Finance group focuses on retail, aims 25% CAGR in 3-4yrs: Official
Larsen & Toubro Group's non-bank financing vertical aims to maintain a compound annual growth rate (CAGR) of over 25 per cent predominantly by focusing on retail financing as a long-term strategy, a senior official said on Sunday.
With the current growth rate, the retail portfolio of the group is estimated to reach Rs 1,00,000 crore by FY2025-26.
"In FY23 we grew by 35 per cent. Our CAGR for the next few years will continue to be at least 25 per cent with the opportunities lying ahead," L&T Finance group CFO Sachinn Joshi told PTI.
L&T Finance Group would predominantly become a retail finance company in the long term, gradually reducing the wholesale book from its existing portfolio, which is around Rs 19,500 crore now," he said.
In the current fiscal year itself, he expects retail to reach 80 per cent of the total loan book, two years ahead of the target under its goal "Lakshya."
The group's non-banking finance companies' loan book currently stands at about Rs 81,000 ...