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L&T Finance
L&T Finance (LTF) investor relations material
L&T Finance Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary19 Jan, 2026
Executive summary
Achieved highest-ever quarterly core PAT of ₹760 crore, up 21% year-on-year, and PAT after one-time labor code impact at ₹739 crore, up 18% year-on-year.
Retailisation reached 98% of the overall book, with the retail book at ₹1,11,990 crore, up 21% year-on-year; consolidated book at ₹1,14,285 crore.
Retail disbursements for Q3FY26 were ₹22,701 crore, a 49% year-on-year increase, driven by strong festive demand and GST 2.0 implementation.
Digital and AI initiatives, including Cyclops and Nostradamus, are enhancing underwriting, portfolio management, and operational efficiency.
Unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025, were approved and published, with statutory auditor review and no material misstatements reported.
Financial highlights
Total income for Q3FY26 was ₹2,920 crore, up 18% year-on-year; consolidated total income for the quarter was ₹4,581.49 crore.
Net interest margin plus fees improved 19 bps sequentially to 10.41%.
Consolidated net profit after tax for the quarter was ₹737.99 crore, compared to ₹625.65 crore year-over-year.
Credit cost reduced to 2.83% in Q3 FY26, down from 3.80% in Q4 FY25; core credit cost at 2.74% excluding one-time co-borrower provision.
Book value per share rose to ₹108.3, up 9% year-on-year; basic EPS was 2.9, up 17% year-on-year.
Outlook and guidance
Confident of sustaining growth momentum and improving asset quality through FY27.
Credit cost trajectory expected to reach 2%-2.2% by Q4 FY27, with potential to achieve earlier if tailwinds persist.
NIM plus fee guidance maintained at 10%-10.5%.
Lakshya 2026 goals remain on track: retailisation >95%, retail book CAGR >25%, GS3 <3%, NS3 <1%, and consolidated RoA of 2.8–3%.
Medium-term cost-to-income ratio expected to trend below 40% as scale increases.
PMFL gold loan acquisition rationale
Future impact of New Labour Codes on financials?
Explain unreviewed subsidiary's materiality
Cyclops' impact on credit cost by Q4 FY27?
How will gold loans balance the 60:40 portfolio mix?
Drivers for NIM+fee sustainability beyond 10.5%?
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Next L&T Finance earnings date
Q4 25/2628 Apr, 2026
L&T Finance
Next L&T Finance earnings date
Q4 25/2628 Apr, 2026
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Frequently asked questions
L&T Finance Limited is an India-based non-banking financial company (NBFC) that provides a range of financial products and services. The company operates in segments such as rural finance, housing finance, infrastructure finance, and investment management. Its offerings include farm equipment loans, two-wheeler loans, home loans, real estate financing, and project finance. L&T Finance serves retail, corporate, and institutional clients across urban and rural markets in India. The company is headquartered in Mumbai, India, and its shares are listed on the BSE.
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