L&T Finance (LTF), part of engineering major Larsen & Toubro, plans to enter the asset management and insurance segments in a time frame of 12-18 months. According to the company, LTF is aggressively working on the foray into these segments.
Presently, LTF is one of the players in vehicle financing segment in India, with total assets around Rs 5,400 crore. Further, it aims to grow this segment by 30% to Rs 7,000 crore in FY’10. Last year, company has financed around 15,000 tractors, targets to increase it’s by at least 20%.
At end of FY’09, company’s total revenues stood at Rs 830.28 crore, whereas its non-performing assets (NPAs) rose to 2.04% from around 1% a year-ago.