L&T Finance seeks 20%+ annual loan growth under Lakshya 2031
L&T Finance is looking to boost its annual loan growth by over 20% as part of its Lakshya 2031 plan.
CEO Sudipta Roy says the company is turning to artificial intelligence to make lending smarter and collections smoother, hoping this will cut credit costs and improve efficiency in the next few years.
L&T Finance offsets funding cost pressure
Even though rising funding costs trimmed net interest margins last quarter, L&T Finance balanced things out with steady returns and more fee income from personal loans, SME collections, and insurance.
Its partnerships with apps like CRED, Google Pay, PhonePe, and Amazon have made it easier (and faster) for people to get loans online.
The company expects this digital-driven growth in personal loans to stay strong for a while before leveling off as its business grows.