Live price, 52-week range, analyst targets, Q3 results, Lakshya 2026 strategy, and everything a serious investor needs to know about LTF stock
In a market where most NBFC stocks have struggled to hold ground, L&T Finance Limited (NSE: LTF) has quietly staged one of the more impressive recoveries in the financial services space. From a 52-week low of ₹140 to a high of ₹329.45 — and now trading around ₹272–₹276 as of April 2026 — the stock tells a story that is equal parts comeback and caution.
If you are tracking LTF share price, wondering whether to buy, hold, or wait — this is the article you need to read before making that call. We cover the live price, key financial metrics, Q3 FY26 results, analyst targets, and the big strategic picture behind this Larsen & Toubro subsidiary.
L&T Finance Share Price Today — Live Snapshot (April 2026)
Current price (Apr 9)
₹272.18
Day high / low
₹277 / ₹271
52-week high
₹329.45
52-week low
₹140.00
Market cap
₹69,380 Cr
P/E ratio
24.60x
*Prices as of April 9–10, 2026. 50 DMA: ₹276.43 | 200 DMA: ₹259.57 | P/B ratio: 2.62x | EPS (FY25): ₹10.61 | Dividend yield: ~1.91%
What Is L&T Finance? — Company Overview
L&T Finance Limited (formerly L&T Finance Holdings Limited, renamed in March 2024) is a systemically important NBFC and a direct subsidiary of Larsen & Toubro Limited — one of India’s most respected engineering and technology conglomerates. Incorporated in 1994 and headquartered in Mumbai, LTF is listed on both NSE (ticker: LTF) and BSE (533519).
The company has transformed itself from a diversified financial conglomerate into a focused retail-first NBFC — a shift that defines its entire investment thesis today. It serves over 2.3 crore customers across India through a wide product portfolio including:
- Two-wheeler finance — average ticket size ₹1 lakh, present across 137 locations
- Home loans and loan against property — urban finance segment
- SME loans — growing rapidly at ~18% in FY25
- Rural finance — farm equipment, agri-allied, microfinance, rural group loans
- Gold loans — expanded through acquisition of Paul Merchants’ gold loan business (February 2025)
- Consumer loans and real estate finance
The retail loan book has crossed ₹80,000 crore — a milestone achieved under the company’s ambitious ‘Lakshya 2026’ strategy, which was completed well ahead of schedule. The overall gross loan book crossed ₹1.25 lakh crore in FY25.
Q3 FY26 Results — What the Numbers Say
The December 2025 quarter results gave investors a mixed but broadly positive picture:
- Net profit: ₹738.61 crore — up 17.91% year-on-year and 0.51% quarter-on-quarter
- Revenue (Q3 FY26): ₹4,581.49 crore — up 11.6% YoY and 5.7% QoQ
- Full year FY26 revenue: ₹15,940.98 crore | Full year profit: ₹2,643.42 crore
- EPS (Q3 FY26): ₹2.94–₹2.95 per share
- Expenses: Up 16.4% YoY — the pressure point that is squeezing margins
- NIM (Net Interest Margin): Compressed by 35 bps QoQ — driven by interest rate cuts in the MFI segment and changing asset mix
The headline profit growth is encouraging. But the NIM compression is the number that serious investors are watching most closely. When your cost of funds does not fall as fast as your lending yields — especially in a regulated MFI environment — margins shrink. LTF acknowledged this and indicated that credit costs should normalize from H2 FY26 onwards.
The Lakshya 2026 Strategy — What Changed and What Is Next
The single most important thing to understand about L&T Finance’s investment story is the Lakshya 2026 transformation. What started as a sprawling NBFC with infrastructure finance, wholesale lending, and mutual funds has been deliberately stripped down to a clean, retail-focused lender. The company:
- Sold its asset management business to HSBC
- Exited infrastructure and wholesale lending
- Merged subsidiaries L&T Infrastructure Finance and L&T Housing Finance into the parent (2021)
- Built a 100% paperless, digital-first loan journey for retail and SME products
- Adopted AI-driven lending — underwriting TAT cut from 37 hours to 18 hours, with a target of 8 hours
- Acquired Paul Merchants’ gold loan business (February 2025) to diversify into a high-growth, secured lending segment
- Added to the MSCI Index — triggering institutional inflows
Citi assigned a Buy on LTF citing AI-led capex of ₹800 million boosting productivity, with targets of more than 20% AUM growth and Return on Assets (RoA) at 2.0–2.2% by Q4 FY27. Nomura also forecasts AI-driven growth in NBFCs benefiting LTF significantly.
Key Financial Metrics — Snapshot
| Metric | Value (Apr 2026) |
|---|---|
| Share price (NSE) | ₹272–₹276 |
| Market capitalisation | ~₹69,380 Cr |
| P/E ratio | 24.60x |
| P/B ratio | 2.62x |
| EPS (FY25 annual) | ₹10.61 |
| ROE (3-year avg) | 7.23–10.80% |
| Dividend yield | ~1.91% (₹2.75/share) |
| Debt / Equity ratio | 3.48x |
| Promoter holding | 66% (Larsen & Toubro) |
| 3-year return | 47.33% |
L&T Finance Share Price Target 2026 — What Analysts Are Saying
Analyst consensus on LTF is broadly positive — but with nuance:
- TradingView consensus (19 analysts): Average target price of ₹317.74 — max estimate ₹375, min estimate ₹160. Overall rating: Buy
- Citi: Buy with target ₹330 — citing AI-led productivity gains and 20%+ AUM growth outlook
- Nomura: Buy — betting on AI-driven lending efficiency in NBFCs, with LTF as a key beneficiary
- Screener/Trendlyne average (6 brokers): Average target ~₹216–₹253 — more conservative, reflecting NIM compression and MFI headwinds
- Long-term target (2026–2027): ₹310–₹350 range cited by fundamental analysts, assuming continued loan book expansion, stable asset quality, and EPS reaching ₹12.50–₹13.50 by FY27
- EPS target for next quarter: ₹3.22 expected — a step up from current ₹2.94–₹3.00
The wide range between the most bullish (₹375) and most bearish (₹160) targets reflects genuine uncertainty around two factors: how fast the MFI stress resolves, and whether AI-driven underwriting delivers the RoA improvement the company is targeting.
Risks Every LTF Investor Must Know
- MFI stress: The microfinance industry is going through a difficult phase — tighter RBI guidelines, rising delinquencies, and lender guardrails (MFIN Guardrails 2.0) are all putting pressure on the rural business finance (RBF) portfolio
- NIM compression: Interest rate cuts in MFI lending are squeezing margins — a trend that may persist through H1 FY27
- High expenses growth: Opex growing at 9% YoY means the operating leverage hasn’t fully kicked in yet
- Debt-to-equity ratio of 3.48x: NBFCs are inherently leveraged — but this ratio demands disciplined asset quality management
- Stock 17% below 52-week high: The stock has corrected from ₹329 and is currently forming a base — it needs to reclaim key levels for momentum to resume
Why LTF Could Be a Long-Term Compounder — The Bull Case
- L&T brand backing: 66% promoter holding by one of India’s most trusted conglomerates — management quality and governance are not in question
- AI-driven underwriting: TAT cut from 37 to 18 hours — a real productivity moat that will reflect in cost ratios over time
- MSCI Index inclusion: Brings sustained institutional inflows — a structural demand driver for the stock
- Gold loan expansion: Paul Merchants acquisition adds a high-margin, secured product to the mix — diversifying away from MFI risk
- Revenue up 4 consecutive quarters: ₹4,020 crore → ₹4,581 crore in four quarters — a clear upward trajectory
- India’s credit expansion: Rising credit-to-GDP ratio and government focus on financial inclusion are structural tailwinds for India’s NBFC sector through 2030
- Target RoA of 2.0–2.2% by Q4 FY27: If achieved, this re-rating could push the stock significantly higher
Should You Buy, Hold, or Wait on LTF Stock?
Quick verdict by investor type
Long term
Strong case for accumulation at current levels. L&T brand, AI-led efficiency, MSCI inclusion, and India’s credit growth make LTF a solid 3–5 year compounder if you can stomach near-term NIM pressure.
Short term
Stock is currently forming a base and trading 16% below key pivot. Wait for a decisive breakout above ₹290–₹300 before adding for short-term trades.
SIP investors
LTF is available as a direct stock SIP on platforms like INDmoney and Dhan. A weekly or monthly SIP averages out the entry price — removing the guesswork on timing.
How to Buy L&T Finance Shares
- Open a Demat and Trading account with any SEBI-registered broker — Zerodha, Groww, Dhan, INDmoney, 5paisa, Motilal Oswal, or Kotak Neo
- Search for ticker LTF on NSE or 533519 on BSE
- Place a market order, limit order, or set up a stock SIP for regular monthly/weekly investments
- Use the After Market Order (AMO) feature on apps like Dhan to place orders even after market hours
Disclaimer: This article is for informational and educational purposes only. Share prices, analyst targets, and financial data are sourced from publicly available information as of April 2026 and are subject to change. This does not constitute investment advice. Please consult a SEBI-registered financial advisor before making any investment decisions. Past performance is not indicative of future returns.