INTRODUCTION
L&T Finance Limited (formerly known as L&T Finance Holdings
Limited)
Headquartered in Mumbai, L&T Finance Limited (formerly known as L&T
Finance Holdings Limited) is one of the leading Non-Banking Financial
Companies in India, with a strong presence across the lending business catering
to the diverse financing needs of served and underserved customers. L&T
Finance offers Personal loans, Two-Wheeler loans, Home loans, Rural Business
loans, Farm loans, and SME loans. At L&T Finance, we are committed to
providing customised financial solutions that meet the unique needs of our
customers. With a focus on innovation and customer-centricity, we aim to be a
trusted partner in our customers' financial journey.
L&T Finance Holdings Limited, often abbreviated as L&T Finance, is a leading
non-banking financial company (NBFC) in India. It is a subsidiary of Larsen &
Toubro Limited (L&T), one of India's largest engineering and construction
conglomerates. L&T Finance offers a wide range of financial products and
services across various sectors including rural, housing, infrastructure, and
wholesale finance.
Established in 1994, L&T Finance has grown steadily over the years to become
a significant player in the Indian financial services industry. The company
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provides financing solutions to individuals, small and medium-sized enterprises
(SMEs), corporates, and institutions.
L&T Finance's offerings include retail and corporate loans, rural finance,
housing finance, investment management, wealth management, and asset
reconstruction. With a strong focus on customer service, technological
innovation, and risk management, L&T Finance has built a reputation for
reliability and trustworthiness in the market.
History
Larsen and Toubro were in India to represent the interests of the Danish dairy
equipment manufacturer FLSmidth when they founded L&T through an oral
agreement in 1938. The company was legally incorporated in 1946.
The start of World War II in 1939 and the resulting blockade of trade, led Larsen
and Toubro to undertake jobs and provide service facilities. The German
invasion of Denmark in April 1940 stopped supplies of Danish products. The
war-time need to repair, refit, and degauss ships offered L&T an opportunity,
and led to the formation of a new company, Hilda Ltd, to handle these
operations. L&T also started to repair and fabricate ships. The internment of
German engineers in India who were to construct a soda ash plant for the Tata
Group gave L&T a chance to enter the field of installation.
In 1946, they incorporated Engineering Construction & Contracts Ltd. (ECC) to
focus on construction projects. ECC now exists as the construction division of
L&T. By 1947, the company represented the manufacturers of equipment used
to manufacture products such as hydrogenated oils, biscuits, soaps and glass.
In 1947, the company signed an agreement with Caterpillar Tractor Company to
market earth moving equipment. At the end of the war, large numbers of war-
surplus Caterpillar equipment were available at attractive prices, but the finances
required were beyond the capacity of the partners. This prompted them to raise
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additional equity capital, and on 7 February 1946, Larsen & Toubro Private
Limited was incorporated.
In 1947, the firm set up offices in Calcutta and Madras and New Delhi. In 1948,
55 acres of undeveloped marsh and jungle was acquired in Powai, Mumbai. In
December 1950, L&T became a public company with a paid-up capital of ₹20
lakh (equivalent to ₹22 crore or US$2.8 million in 2023). The sales turnover in
that year was ₹1.09 crore (equivalent to ₹120 crore or US$15 million in 2023).
In 1956, a major part of the company's Bombay office moved to ICI House in
Ballard Estate, which would later be purchased by the company and renamed as
L&T House, its present headquarters.
During the 1960s, ventures included the Utkal Machinery Limited (UTMAL)
(set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962)
and Tractor Engineers Limited (TENGL) (1963).
In 1965, the firm had been chosen as a partner for building nuclear reactors. Dr.
Homi Bhabha, chairman of the Atomic Energy Commission had approached
L&T in the 1950s to fabricate critical components for nuclear reactors. L&T has
since been a significant contributor to the Indian nuclear programme.
L& T FINANCE COMPANY PROFILE
L&T Finance Holdings Limited is the financial services arm of Larsen &
Toubro Limited (L&T), one of India's largest conglomerates. Established in
1994, L&T Finance Holdings operates in various segments of the financial
services industry, including rural and retail finance, housing finance,
infrastructure finance, and investment management.
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· Founded in 1994 - (30 yrs old)
· India Employee count - 10k-50k
· Headquarters - Mumbai, Maharashtra, India
· Office Locations - Mumbai, Maharashtra, India
· CEO - Dinanath Dubhashi
Type of Company - Corporate
· Nature of Business - Service |
Our Products For Your Goals.
Home Loan
Move into the home of your dreams with a Home Loan.
Loan Against Property
Fulfil your dreams with loan against residential property.
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Personal Loans
Achieve your immediate financial needs with a personal loans.
Two-Wheeler Finance
Get a boost for your ride with a two wheeler loan.
Farm Equipment Finance
Get easy loan for all your agricultural needs.
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SME Loan
Expand your business with customised financial solutions.
Micro Loan
Group loans to women borrowers for income generating activities
L&T Finance Company Objectives
L&T Finance Holdings Limited pursues several strategic objectives aligned with
its vision and mission. While specific objectives may evolve over time based on
market conditions and business priorities, here are some common objectives that
the company may focus on:
Customer-Centricity: Ensuring customer satisfaction and loyalty by
offering tailored financial solutions, excellent service, and seamless
experiences across all touchpoints.
Business Growth: Expanding market share and revenue by diversifying
product offerings, entering new segments or geographies, and capitalizing on
emerging opportunities in the financial services sector.
Risk Management: Implementing robust risk management practices to
identify, assess, and mitigate potential risks across the organization,
including credit, market, liquidity, and operational risks.
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Operational Efficiency: Enhancing operational efficiency and cost-
effectiveness through process optimization, technology adoption, and
resource allocation to maximize productivity and profitability.
Financial Performance: Achieving sustainable and profitable growth by
optimizing the company's financial performance, including revenue
generation, margin improvement, and return on investment.
Regulatory Compliance: Ensuring compliance with regulatory
requirements and industry standards to maintain trust, credibility, and
integrity in the eyes of stakeholders, including customers, investors, and
regulators.
Innovation and Digitalization: Driving innovation and digital
transformation to stay ahead of market trends, enhance competitiveness, and
meet evolving customer preferences for digital banking and financial
services.
Talent Development: Investing in employee training, development, and
retention to build a high-performing workforce capable of driving the
company's growth and delivering exceptional value to customers.
Sustainability and Corporate Social Responsibility (CSR): Integrating
sustainability principles and CSR initiatives into business practices to create
positive social and environmental impact while enhancing long-term value
for all stakeholders.
These objectives collectively reflect L&T Finance's commitment to achieving
sustainable growth, managing risks effectively, and creating value for its
customers, employees, shareholders, and society at large.
L&T Finance's Company vision
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L&T Finance's vision is to be a leading and trusted financial services provider,
driving inclusive growth and contributing to the prosperity of individuals,
businesses, and communities across India. They aim to achieve this by:
[Link]-Centric Approach: Placing customers at the center of their
operations, understanding their needs, and offering tailored financial solutions to
meet their requirements.
[Link] and Technology: Embracing innovation and leveraging cutting-
edge technology to enhance efficiency, improve customer experience, and stay
ahead in the rapidly evolving financial services landscape.
[Link] Practices: Conducting business with integrity, transparency, and
ethical standards, ensuring trust and confidence among stakeholders.
[Link] Inclusion: Promoting financial inclusion by reaching out to
underserved and unbanked segments of society, providing them with access to
credit and other financial services.
[Link] Growth: Pursuing sustainable and responsible growth strategies
that create long-term value for shareholders while contributing positively to
society and the environment.
Overall, L&T Finance envisions itself as a catalyst for economic development,
empowering individuals and businesses to achieve their financial goals and
aspirations while fostering socio-economic progress in India.
L&T Finance company mission
L&T Finance Holdings Limited's mission is to be a trusted partner in the
financial well-being of its customers, providing innovative and comprehensive
financial solutions that meet their diverse needs across different segments and
geographies. The company aims to achieve this mission by:
[Link] exceptional customer service: L&T Finance is committed to
understanding and addressing the unique financial requirements of its customers
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promptly and efficiently. By providing personalized and responsive service, the
company strives to build long-term relationships based on trust and mutual
respect.
[Link] financial inclusion: L&T Finance recognizes the importance of
extending financial services to underserved and marginalized communities.
Through its initiatives in rural finance and microfinance, the company aims to
empower individuals and businesses in rural and semi-urban areas, thereby
contributing to economic development and social progress.
[Link] innovation: L&T Finance is dedicated to leveraging technology and
data analytics to develop innovative financial products and services that enhance
customer convenience, efficiency, and value. By staying at the forefront of
technological advancements, the company aims to continuously improve its
offerings and stay ahead of evolving customer expectations.
[Link] sustainability and responsible finance: L&T Finance is
committed to conducting its business in a socially responsible and
environmentally sustainable manner. The company adheres to high standards of
corporate governance, risk management, and ethical conduct, ensuring that its
operations have a positive impact on society and the environment.
customer satisfaction towards L&T Finance
customer satisfaction towards L&T Finance would involve examining various
factors such as the quality of its financial products and services, the efficiency of
its customer service, the transparency of its processes, and its overall reputation
in the market. Here are some key aspects that may influence customer
satisfaction:
Product Offerings: Customers may assess the range of financial products
offered by L&T Finance, including loans, investment options, and insurance
products, to determine if they meet their needs and preferences. Competitive
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interest rates, flexible terms, and innovative features can enhance
satisfaction.
Customer Service: Prompt and efficient customer service is crucial for
satisfaction. This includes responsiveness to inquiries, clarity in
communication, and support during the application and approval process.
Customers expect accessibility through multiple channels such as phone,
email, and online chat.
Transparency and Fair Practices: Transparency in terms and conditions,
fees, charges, and interest rates is essential for building trust. Customers
value clear and accurate information that enables them to make informed
decisions. Fair lending practices and ethical conduct also contribute to
satisfaction.
Convenience and Accessibility: Convenience in accessing services,
whether through physical branches or digital platforms, is a significant
factor. User-friendly online portals and mobile apps for account
management, payments, and transactions can enhance satisfaction by
simplifying processes.
Complaint Resolution: The effectiveness of L&T Finance in addressing
customer complaints and concerns plays a crucial role in satisfaction. A
timely and satisfactory resolution of issues demonstrates the company's
commitment to customer service and accountability.
Security and Privacy: Customers prioritize the security of their financial
transactions and personal information. Robust measures to safeguard data
privacy and protect against fraud or unauthorized access contribute to
satisfaction and trust in the company.
Reputation and Trustworthiness: L&T Finance's reputation in the market,
as well as reviews and testimonials from existing customers, influence
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perceptions of reliability and credibility. Positive word-of-mouth referrals
and brand trust contribute to overall satisfaction.
To assess customer satisfaction towards L&T Finance comprehensively, the
company may conduct regular surveys, gather feedback through customer
interactions, monitor online reviews and ratings, and analyze customer retention
rates and referral patterns. Additionally, benchmarking against industry
standards and competitors can provide valuable insights into areas for
improvement.
conclusion
L&T Finance Holdings Limited stands as a prominent player in India's financial
services landscape, offering a diverse range of products and solutions tailored to
meet the needs of various customer segments. The company's commitment to
customer satisfaction, innovation, and responsible finance underscores its
mission to be a trusted partner in its customers' financial journeys.
Through its extensive network and digital platforms, L&T Finance endeavors to
provide convenient access to financial products and services while maintaining
transparency, fairness, and security. The company's emphasis on operational
efficiency, risk management, and compliance reflects its dedication to
sustainable growth and long-term value creation.
Furthermore, L&T Finance's focus on financial inclusion, rural development,
and corporate social responsibility demonstrates its broader commitment to
societal well-being and environmental sustainability. By integrating these
principles into its business practices, L&T Finance aims to make a positive
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impact on the communities it serves while fostering economic growth and
prosperity.
Overall, L&T Finance Holdings continues to evolve and innovate in response to
changing market dynamics and customer expectations. As it navigates the
complexities of the financial services industry, the company remains steadfast in
its pursuit of excellence, striving to exceed customer expectations and deliver
sustainable value to all stakeholders.
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