S N Subrahmanyan Appointed as a Chairperson at L&T Finance Holdings

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Larsen & Toubro’s CEO & MD, Mr. S N Subrahmanyan has been appointed as the Director and Chairperson of its finance wing, L&T Finance Holdings Ltd (LTFH). The decision was taken in line with L&T’s overall commitment to strengthen its presence in the services area. Subrahmanyam took the charge on 28 February 2022.

“Am happy to be a part of the Board of LTFH and look forward to working with the leadership team as the Company embarks on a new journey towards Vision 2026. Given the thrust being provided by L&T Group for the services businesses in its overall portfolio, the growth of L&T Financial Services is an important component of the Group’s Lakshya 2026 Strategic Plans.”

S N Subrahmanyan

The company in its statement said, ‘SNS’ appointment will provide leadership to LTFH as the Company continues to deliver on its stated objective of retailisation.’ SNS replaced Mr. Shailesh Haribhakti, who served as LTFH Chairperson from 1 June 2017. Mr. Haribhakti will continue to be an LTFH Board member. 

LTFH, a significant non-banking financial company (NBFC) in India, is a market leader in farm equipment and two-wheeler financing, as well as micro-loans. It is a major financier of infrastructure projects such as renewable energy and roads.

The firm has announced its commitment to achieving water neutrality by FY22 and carbon neutrality by FY35. L&T’s finance business has taken strides in building a comprehensive home loans business and launched its first-ever digital native consumer loans business. 

Four major rating agencies have given it a AAA rating (the highest credit rating for NBFCs). For its ESG criteria, L&T Financial Services (LTFS) has been recognized as a constituent firm in the FTSE4Good Index Series.

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