We expect the rural sector to continue to do well and hence we continue to gain market share, said Dinanath Dubhashi, MD & CEO, L&T Finance Holding.
Dinanath Dubhashi, MD & CEO of L&T Finance Holdings in an interview to CNBC-TV18 spoke about the results and his outlook for the company.
Dinanath Dubhashi, MD & CEO of L&T Finance Holdings said L&T Finance works for only one important stakeholder and that is shareholder.
CNBC-TV18's Latha Venkatesh from the sidelines of The Motilal Oswal 13th Annual Global Investor Conference interviewed heads of top NBFCs to talk about the new challenges facing the Indian financials.
In an interview to CNBC-TV18, Dinanath Dubhashi, MD and CEO of L&T Finance Holdings spoke about the results and his outlook for the company. “We realise that even we are very competitive in cost of funds etc, net interest margins (NIMs) will always be a losing battle vis-à-vis banks, hence where we need to make money is NIMs plus fees”, he said.
Speaking to CNBC-TV18 Dinanath Dubhashi, MD, L&T Finance Holding said the company faced a negative impact of demonetisation in the quarter and added that the effects were seen across the sector.
Have bought 4 lakh shares of L&T Finance Holdings at an average price of Rs 80 per share, over a period of time, said Harsh Mariwala, Chairman, Marico.
Lenovo continues to remain optimistic about sales even post demonetisation. In a interview with CNBC-TV18, Sudhin Mathur, Executive Director of Lenovo's mobile business says the cash crunch has not had much of an impact on sales of higher price band phones.
L&T Finance reported a 33 percent rise in its consolidated net profit to Rs 216 crore in the July-September quarter supported by healthy growth in assets.
L&T Finance Holdings is focusing on improving its return on equity (RoE) to around 18-19 percent by the year 2020 from around 10 percent reported in FY16.
In a post earnings interview, YM Deosthalee, Chairman of L&T Finance Holdings said that the whole entity has been restructured and the business is now divided in to three key focus areas - rural, housing and wholesale book segment.
If the monsoon is good throughout India, we can see improvements from third quarter of FY17, L&T Finance CMD YM Deosthalee says.
YM Deosthalee, CMD of L&T Finance Holding says that overall growth in retail was subdued in Q3 and asset growth has been reasonably decent.
Deosthalee says L&T Finance is currently focusing on lending only to renewable energy and operational projects within the infrastructure space, adding there is likely to be some improvements in the road sector over the next few months.
YM Deosthalee, CMD, L&T Finance Holdings says the renewable energy and operational assets segment will aid company in its second half and the next year‘s performance.
Post this capital infusion by Bain Capital, the capital adequacy for the company would go up by 2 percent from the current 14.5 percent, said , N Sivaraman, President & Whole Time Director, L&T Finance Holding.
L&T Finance posted a 15 percent rise in its first quarter net profit to Rs 192 crore from Rs 167 crore in the same period last year.
In an interview with CNBC-TV18, Rajesh Doraiswamy, Joint Managing Director of Salzer Electronics said the funds raised through QIP will be used as growth capital.
N Sivaraman, president & whole-time director, L&T Finance Holding said the company has brought down the proportion of bank borrowings close to around 40 percent at the overall level.
CMD, L&T Finance said focus on B2C products (tractors, 2-wheeler finance, microfinance and housing finance) and emphasis on operating projects in renewable power and road segment have been key to this growth.
In an interview to CNBC-TV18, Sivaraman said commercial vehicle loan growth was likely to be low in the near term even as there were some signs of recovery
The company‘s gross NPA increased marginally at 3.01 percent in December quarter compared to 2.93 percent in the year-ago period and 2.96 percent in previous quarter.
The NBFC company expects more guidelines from the central bank on the same.
N Sivaraman also commented on L&T Finance Holdings current state of business. He says in terms of core competencies, it is either the number 2 or the number 3 player in every segment it is present in, except the commercial vehicles space.
According to N Sivaraman, there's a significant amount of stress in the environment hence one has to be cautious about lending and plan ahead for the provisioning.