L&T Finance reported estimated retail disbursements of ₹23,800 crores for the quarter ended June 30, 2026, representing a growth of approximately 36% year-on-year. The retail loan book at the end of Q1FY27 was estimated at ₹1,27,450 crores, a rise of about 28% compared to the same period in the previous year. The retailisation ratio remained stable at 98%. The company noted that the information provided is estimated and provisional in nature, subject to limited review by the Statutory Auditors.

Analyst Views

The strong quarterly performance has drawn divergent reactions from leading brokerages. Citi maintained its Buy rating on L&T Finance with a target price of ₹340, citing robust retail disbursements of ₹238 billion (+36% YoY) and retail AUM growth accelerating to 28% YoY and 6.6% QoQ to ₹1.27 trillion, with retailisation exceeding 98%. Citi highlighted broad-based momentum across key segments, including urban finance (+57% YoY), MFI (+24% YoY), farmer finance (+11% YoY), and SME finance (+23% YoY) as key drivers of its positive stance.

In contrast, Morgan Stanley maintained its Underweight rating with a target price of ₹150, acknowledging the 28% YoY retail loan growth and 36% YoY retail disbursement growth driven by strong urban, micro, and farm loans. However, the brokerage expressed caution on margins, asset quality, credit costs, and microfinance trends. Morgan Stanley also cited expensive valuations and noted that return on equity (ROE) is likely to take 2.5–3 years to reach 15%.

Retail Disbursements

The company's retail disbursements were driven primarily by the Urban Finance segment, which recorded an estimated ₹10,760 crores in Q1FY27, up from ₹6,851 crores in the prior year. Rural Business Finance disbursements increased to ₹6,960 crores from ₹5,619 crores. Other segments, including Farmer Finance, SME Finance, and Gold Finance, also contributed to the overall growth. The following table presents a segment-wise breakdown of retail disbursements:

Retail Book Growth

The retail loan book expanded to ₹1,27,450 crores in Q1FY27 from ₹99,816 crores in the corresponding quarter of the previous fiscal year, reflecting broad-based growth across segments.

L&T Finance will host a conference call on July 13, 2026, to discuss its financial performance for Q1FY27 and provide an update on its business strategy. The meeting aims to communicate the quarterly results to investors and analysts, offering insights into the company's operational progress and future direction. The discussion will align with the presentations made available on the company's website and the stock exchanges.

The earnings call is scheduled to begin at 11:00 am IST. Participants can join the discussion using various dial-in numbers provided for different regions. The company has also set up a pre-registration link for attendees to facilitate access to the conference.

Conference Call Details

The following table outlines the key details for joining the Q1FY27 earnings call:

Post-Call Resources

Following the call, L&T Finance will host the presentation, an audio recording of the proceedings, and a transcript on its investor relations website. This ensures that stakeholders who cannot attend the live session can still access the information shared during the briefing.

The intimation was submitted to the exchanges pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Apurva Rathod, Company Secretary and Compliance Officer.