L&T Finance logo

L&T Finance share price

NSE: LTFBSE: 533519FinanceMid Cap

L&T Finance Limited · Formerly L&T Finance Holdings · Face value ₹10 · Listed Aug 2011
Last close ₹251.05up ₹4.55 (1.85%)BSE ₹251.05

Share price at the NSE close on 29 Oct 2026. Previous close ₹246.50.

29 Oct: open ₹251.50, high ₹254.10, low ₹247.00

52-week range of traded prices to 28 Oct 2026
₹229.20Low, 26 Oct 2026₹338.60High, 7 Jul 2026
Market cap
₹61,782 Cr149th largest listed
P/E
18.05
P/B
2.11
Dividend yield
1.12%
ROE
12.3%
NIM
8.46%
Cost of funds
6.65%
Credit cost
2.06%
ROA
2.27%
Leverage
4.89times net worth
Volume, NSE
60,63,496

L&T Finance share price chart

Daily closes since Aug 2011, adjusted for splits and bonuses

−8.1%over a year to 28 Oct 2026 · Nifty 500 −8.8%

ResultsDividendTo 28 Oct 2026, 20-session average 63,46,416 shares a day, 43.0% delivered

About L&T Finance

L&T Finance Limited is a non-banking financial company (a lender that is not a bank) that lends to rural and urban customers across India.1 Its rural business offers group loans, microfinance and small loans against property, its farmer business farm-equipment loans; rural borrowers are mostly women entrepreneurs and farmers.2 In cities it offers home loans, loans against property, personal loans and two-wheeler loans; it also makes small-business and gold loans.3

Retail loans made up 99% of its book in the quarter to Sep 2026; the rest is wholesale lending (infrastructure finance and real-estate finance).45 It had 41,301 employees on 31 Mar 2026 and has no branches or operations outside India.61

It was incorporated in 2008.1 It entered gold loans through the acquisition of the gold loan business of Paul Merchants Finance, completed in June 2025, which brought in over 130 branches and approximately 700 employees.7 The Reserve Bank of India classes it as an upper-layer NBFC, the tier of non-bank lenders under its closest supervision.8

Larsen & Toubro Limited, its promoter and holding company, held 65.99% of its shares on 31 Mar 2026.910 Its chairman, S. N. Subrahmanyan, is Chairman and Managing Director of Larsen and Toubro Limited, and Sudipta Roy is its Managing Director and Chief Executive Officer.11

L&T Finance key points

Results

  • Consolidated profit after tax for the quarter to Sep 2026 was ₹975 crore, up 33% from a year earlier; interest income was ₹4,945 crore, against ₹3,852 crore.1213
  • Net profit for the year to Mar 2026 was ₹2,981 crore; profit after tax before the Labour Code effect was ₹3,003 crore, up 14% and the company's highest for a year.1415
  • In the quarter to Sep 2026, consolidated return on assets (profit as a share of average assets) was 2.60%, return on equity (profit as a share of shareholders' funds) 13.56% and credit cost (provisions for bad loans as a share of the book) 2.46%.1617

Loan book and deposits

  • The loan book was ₹1,36,635 crore at the end of Sep 2026, up 28% from a year earlier; disbursements (new loans paid out) in the quarter were ₹24,027 crore, up 27%.18
  • Loan book by business, ₹ crore19
    Itemquarter to Sep 2026quarter to Sep 2025
    Urban Finance67,66851,298
    Rural Business Finance33,46527,460
    Farmer Finance17,39715,943
    SME Finance9,4957,465
    Gold Finance5,0431,475
    Acquired portfolio1,531966
    Wholesale Finance2,0362,489
  • Urban Finance book by product, ₹ crore19
    Itemquarter to Sep 2026quarter to Sep 2025
    Home loans23,81020,626
    Personal loans18,66410,878
    Two-wheeler loans16,15813,013
    Loans against property9,0366,781
  • Borrowings were ₹1,23,306 crore at the end of Sep 2026, against ₹97,749 crore a year earlier; the weighted average cost of borrowing was 6.95% in the quarter, which the company says is its lowest for any quarter.20

Branches and reach

  • At the end of Sep 2026 the company had more than 3,100 branches, counting meeting centres, and more than 3 crore customers, of whom more than 93 lakh were active.2122
  • The company's branches include 2,282 meeting centres for group and microfinance loans; the company's total branch count is 880, including 157 branches for small loans against property and 530 gold loan branches.23
  • Its rural network reaches about 2,00,000 villages in 18 states; its urban network covers 23 states, 4 union territories and more than 450 cities and towns.24
  • Urban loans made up 62% of the book and rural loans 38%.23

Asset quality and ratings

  • Defaulted loans (GS3 in the company's terms) were 2.75% of consolidated exposure at default (the amount owed on the loans) at the end of Sep 2026, or 0.85% after provisions (NS3), against 3.29% and 1.00% a year earlier.252627
  • Loans with no overdue payment were 96.3% of group and microfinance loans against 77.9% for the industry, 92.0% of two-wheeler loans against 83.8%, and 87.8% of farm-equipment loans against 82.3% (industry figures are for the previous quarter).28
  • Crisil Ratings, ICRA, CARE and India Ratings rate its long-term debt AAA; S&P Global Ratings rates it BBB and Fitch Ratings BBB-, both of which the company says are at par with India's sovereign rating.29
  • L&T Finance's consolidated capital adequacy ratio (capital as a share of risk-weighted assets) was 18.67% at the end of Sep 2026.30

Technology

  • Project Cyclops, the company's own underwriting engine (software that decides whom to lend to), is live in two-wheeler, farm-equipment, personal and small-business loans; prime borrowers (those with high credit scores) make up 84% of the two-wheeler book.31
  • In its presentation of 15 Oct 2026, the company said it plans to take Project Cyclops live in rural business finance and mortgage loans by the half year to Sep 2027.32
  • L&T Finance builds its technology in-house, with more than 1,000 technology staff and data scientists.33
  • In its presentation of 15 Oct 2026, the company said it targets a customer launch in December 2026 for Project Hercules, an AI-based platform for cross-selling (offering customers more of its products).34

What the company expects

  • In its presentation of 15 Oct 2026, the company said its Lakshya 2031 plan, unveiled in April 2026, targets book growth of 20%+, credit cost below 2%, return on assets of 3.0% to 3.2% and return on equity of 16% to 18%.35
  • On its earnings call of 13 Jul 2026, the company said it aims to reach a return on assets of 2.8% in the quarter to Mar 2027.36
  • On its earnings call of 13 Jul 2026, the company said it was working on opening about 500 new gold loan branches in the year to Mar 2027.37
  • On its earnings call of 13 Jul 2026, the company said it expects net interest margin plus fees (interest and fee income after interest costs, as a share of the loan book) to stay within 10% to 10.5%.38

Recent events

  • Sachinn Joshi and Raju Dodti became whole-time directors (directors who are also full-time executives) on 10 Aug 2026, for 2 and 3 years respectively, after approval from the Reserve Bank of India.39

Last updated

All 39 sources, each with its page
  1. 1. Annual report, 4 May 2026, page 167
  2. 2. Annual report, 4 May 2026, page 168
  3. 3. Annual report, 4 May 2026, page 168
  4. 4. Investor presentation, 15 Oct 2026, page 46
  5. 5. Investor presentation, 15 Oct 2026, page 48
  6. 6. Annual report, 4 May 2026, page 53
  7. 7. Annual report, 4 May 2026, page 53
  8. 8. Annual report, 4 May 2026, page 8
  9. 9. Annual report, 4 May 2026, page 169
  10. 10. Annual report, 4 May 2026, page 371
  11. 11. Investor presentation, 15 Oct 2026, page 67
  12. 12. Investor presentation, 15 Oct 2026, page 10
  13. 13. Investor presentation, 15 Oct 2026, page 49
  14. 14. Annual report, 4 May 2026, page 62
  15. 15. Annual report, 4 May 2026, page 18
  16. 16. Investor presentation, 15 Oct 2026, page 9
  17. 17. Investor presentation, 15 Oct 2026, page 51
  18. 18. Investor presentation, 15 Oct 2026, page 10
  19. 19. Investor presentation, 15 Oct 2026, page 48
  20. 20. Investor presentation, 15 Oct 2026, page 39
  21. 21. Investor presentation, 15 Oct 2026, page 4
  22. 22. Investor presentation, 15 Oct 2026, page 25
  23. 23. Investor presentation, 15 Oct 2026, page 44
  24. 24. Investor presentation, 15 Oct 2026, page 44
  25. 25. Investor presentation, 15 Oct 2026, page 36
  26. 26. Investor presentation, 15 Oct 2026, page 46
  27. 27. Investor presentation, 15 Oct 2026, page 36
  28. 28. Investor presentation, 15 Oct 2026, page 34
  29. 29. Investor presentation, 15 Oct 2026, page 41
  30. 30. Investor presentation, 15 Oct 2026, page 51
  31. 31. Investor presentation, 15 Oct 2026, page 14
  32. 32. Investor presentation, 15 Oct 2026, page 14
  33. 33. Investor presentation, 15 Oct 2026, page 12
  34. 34. Investor presentation, 15 Oct 2026, page 19
  35. 35. Investor presentation, 15 Oct 2026, page 7
  36. 36. Earnings call, 13 Jul 2026, page 7
  37. 37. Earnings call, 13 Jul 2026, page 10
  38. 38. Earnings call, 13 Jul 2026, page 28
  39. 39. Exchange filing, 11 Aug 2026, page 1

Results

Consolidated; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.L&T Finance quarterly results

Income from operations growth, 12 months
+20.1%
Net profit growth, 12 months
+26.8%

Quarter to Sep 2026, against the quarter before

Income from operations
₹5,484 Crup 4.59%
Net profit
₹973 Crup 6.20%

Income from operations by quarter

₹4,098 CrDec 24₹4,023 CrMar 25₹4,260 CrJun 25₹4,336 CrSep 25₹4,578 CrDec 25₹4,771 CrMar 26₹5,243 CrJun 26₹5,484 CrSep 26
Peak income from operations ₹5,484 Cr, quarter to Sep 2026; lowest ₹4,023 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

₹626 CrDec 24₹636 CrMar 25₹701 CrJun 25₹735 CrSep 25₹738 CrDec 25₹809 CrMar 26₹916 CrJun 26₹973 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Income from operations4,0984,0234,2604,3364,5784,7715,2435,484
Net profit626636701735738809916973
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Lending, which carries all its revenue.

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+57.9%+12.3%+39.5%1.1%
3 years+44.6%+22.0%+17.2%1.5%
5 years+21.7%+24.9%−3.8%1.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth over 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2021 and Mar 2023.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.L&T Finance shareholding pattern

Shareholding by group

  • Promoters65.93%
  • Foreign institutions7.38%
  • Indian institutions15.79%
  • Individuals and others10.89%
Holder
Larsen & Toubro LimitedPromoter65.93%
SBI LIFE INSURANCE CO. LTDInsurance companies1.00%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.03 pts, foreign institutions −0.33 pts, Indian institutions +0.89 pts, mutual funds +1.09 pts.

Mutual fund holdings

196 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 102 of the 141 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 196 funds holding L&T Finance

Bought for the first time
6
Bought again
6
Added
73
Cut
68
Held unchanged
42
Sold out
16
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.L&T Finance insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade · 14 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

L&T Finance competitors and peers

Investment Company, 73 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to L&T Finance in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Jio Financial Services logoJio Financial ServicesJIOFIN1,35,46379.131.05+122.7%+5.0%1.3%2.1%––0.29%
Aditya Birla Capital logoAditya Birla CapitalABCAPITAL97,46623.752.83+16.3%+20.4%12.7%–1.26%3.60%0.00%
Tata Investment Corporation logoTata Investment CorporationTATAINVEST28,41265.940.97+31.0%+31.6%1.4%1.2%––0.61%
Cholamandalam Financial Holdings logoCholamandalam Financial HoldingsCHOLAHLDNG24,4889.181.58+17.8%+21.1%19.1%–2.23%6.78%0.10%
TVS Holdings logoTVS HoldingsTVSHLTD23,97312.173.71+31.4%+53.6%35.3%17.3%––0.73%
Maharashtra Scooters logoMaharashtra ScootersMAHSCOOTER13,37343.880.41+0.8%−14.7%0.9%1.0%––1.88%
JSW Holdings logoJSW HoldingsJSWHL12,44590.590.38−26.7%–0.4%–0.40%0.33%0.00%
TSF INVESTMENTS logoTSF INVESTMENTSTSFINV9,04418.581.50+282.6%+6.1%8.4%3.3%––2.74%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer; for NIM and ROA, where the company does not file a lender's accounts or has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.L&T Finance dividend history

Dividend per share, ₹, restated for later splits and bonuses

0.8Mar 171Mar 181Mar 190.9Mar 20Mar 210.5Mar 222Mar 232.5Mar 242.8Mar 252.8Mar 26
Highest ₹2.75 a share, years to Mar 2025 and Mar 2026.
Ex-dateTypePer share
22 May 2026Final₹2.75
27 May 2025Final₹2.75
18 Jun 2024Final₹2.50
21 Jul 2023Final₹2.00
1 Jul 2022Final₹0.50
26 Mar 2020Interim₹0.90
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.L&T Finance announcements

L&T Finance share price by year

Each calendar year to 2025.L&T Finance share price history

YearClose at year endChangeHighest closeLowest close
2025315.95+132.9%315.95130.89
2024135.63−17.8%190.10135.63
2023165.05+89.2%165.0579.65
202287.25+12.3%93.9559.40
202177.70−17.1%112.3073.40
202093.70−21.0%131.5548.55
2019118.55−22.3%153.6080.25
2018152.60−12.3%186.40117.20
2017174.00+98.6%211.5088.35
201687.60+34.5%107.8049.65
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026238.50248.25237.00246.50245.2441,42,87341.7%
27 Oct 2026240.40242.65238.50240.80240.9048,41,60439.6%
26 Oct 2026235.75241.65229.20241.10237.0579,60,60342.9%
23 Oct 2026244.10244.50234.30237.50237.1847,38,80743.1%
22 Oct 2026245.40247.25240.35244.10244.3433,00,47240.8%
21 Oct 2026254.00254.20243.50245.60246.9234,50,14334.3%
19 Oct 2026254.00254.80249.15253.00252.8950,32,73549.2%
16 Oct 2026264.00264.00246.50253.85253.072,39,54,10131.9%
15 Oct 2026261.00266.50259.00262.00264.2095,31,61054.8%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Rights issue and offer for sale history

Ex-dateEventPrice factorWhat happened
21 Jan 2021Rights issue–Shareholders were offered new shares. Noted, not adjusted for.
Each event is noted and not adjusted for.

Company details