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L&T Finance delivered strong Q3FY26 results, with its retail book growing 21% year-on-year to ₹1,11,990 Cr, now comprising 98% of the total book. Retail disbursements surged 49% YoY to ₹22,701 Cr, driven by robust growth in Two-Wheeler (up 33%), Farmer (up 12%), and Rural Business Finance (up 47%).
NIMs + Fees improved 19 bps sequentially to 10.41%. PAT, before exceptional items, stood at ₹760 Cr, yielding a Return on Assets (RoA) of 2.37% and Return on Equity (RoE) of 11.38%. Asset quality remained stable with Net Stage 3 (NS3) at 0.92%. The Weighted Average Cost of Borrowing (WACB) reached a new low of 7.25%, a 7 bps sequential reduction.
Strategic digital initiatives like Project Cyclops (underwriting engine) are fully implemented across key products. AI tools such as Project Nostradamus (portfolio management) are live in beta, enhancing efficiency and risk management. Recent developments include the launch of Project Orion (AI conversational assistant) and an AI startup platform, alongside the first multi-product Sampoorna Branch. The company continues to advance its Lakshya 2026 goals.