{"id":6190,"date":"2025-02-08T10:03:24","date_gmt":"2025-02-08T04:33:24","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=6190"},"modified":"2025-02-08T10:03:25","modified_gmt":"2025-02-08T04:33:25","slug":"lt-finance-acquires-pmfls-gold-loan-business-for-%e2%82%b9537-crore-expands-secured-loan-portfolio","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/lt-finance-acquires-pmfls-gold-loan-business-for-%e2%82%b9537-crore-expands-secured-loan-portfolio\/","title":{"rendered":"L&T Finance Acquires PMFL’s Gold Loan Business for \u20b9537 Crore, Expands Secured Loan Portfolio"},"content":{"rendered":"\n

L&T Finance has announced its entry into the gold loan segment with the acquisition of Paul Merchants Finance Pvt. Ltd.’s (PMFL) gold loan business. The company will pay \u20b9537 crore in an all-cash deal, with certain adjustments before the final closing. The transaction is expected to be completed by the second quarter of FY26, subject to regulatory approvals.<\/p>\n\n\n\n

The acquisition consists of a network of 130 branches in full operations in Punjab, Haryana, Chandigarh, Delhi, Rajasthan, Madhya Pradesh, Gujarat, and Uttarakhand. L&T Finance will also inherit PMFL’s 24×7 security hub for offsite monitoring and approximately 700 workers.<\/p>\n\n\n\n

L&T Finance CEO Sudipta Roy mentioned that the move is a part of its long-term high-yield secured lending and growth strategy. L&T Finance gold book will be accelerated 36 months with an addition of assets under management worth \u20b91,000 crore and over 98,000 active customers through the acquisition.<\/p>\n\n\n\n

Meanwhile, L&T Finance reported a Q3 FY25 net profit of \u20b9626.4 crore, down 2.1% sequentially from \u20b9640 crore. On a sequential basis, its profit reduced 10%. Net interest income (NII) rose 11.4% to \u20b92,041 crore but failed to beat estimates at \u20b92,120.8 crore.<\/p>\n\n\n\n

The company’s asset quality weakened marginally, with gross NPA at 3.23%, an improvement over 3.19% in Q3, and 0.97% for net NPA. Net interest income increased 15.1% sequentially to Rs3,806.38 crore.<\/p>\n\n\n\n

L&T Finance closed at \u20b9149 at NSE, down 1% compared to the last session. Nevertheless, its price rose 10% since January 2025.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a>.<\/p>\n\n\n\n

Source: Moneycontrol<\/a>.<\/sub><\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"

L&T Finance has announced its entry into the gold loan segment with the acquisition of Paul Merchants Finance Pvt. Ltd.’s (PMFL) gold loan business. The company will pay \u20b9537 crore in an all-cash deal, with certain adjustments before the final closing. The transaction is expected to be completed by the second quarter of FY26, subject […]<\/p>\n","protected":false},"author":1,"featured_media":6191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[999,1000],"class_list":["post-6190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-lt-finance","tag-pmfl-gold-loan"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=6190"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6190\/revisions"}],"predecessor-version":[{"id":6192,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6190\/revisions\/6192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/6191"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=6190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=6190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=6190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}