Going after growth

That YM Deosthalee is bullish about the organisation that he heads, is coming across quite evidently through his actions. The chairman and managing director of L&T Finance Holdings has, over the past four years, only bought stock from the open market at around 5.6 lakh shares. Though there were no transactions in 2014, in March this year, Deosthalee continued with his buying spree. He bought 12 lakh shares in three tranches from the open market to increase his personal holding in the company to 0.115%.

The last transaction of 10 lakh shares came at ₹62.68 per share. The stock is currently trading at ₹65 (April 10). The subsidiary of Larsen & Toubro is showing improvement in its financals. For the third quarter of FY15, consolidated income grew 23% to ₹1,572 crore. Net interest margin (NIMs) for the lending business was at ₹623 crore (5.66 per cent). Net NPA during the same period stood at 1.98%. The company is looking at clocking healthy asset growth of around 20% in the current financial year. And if Deosthalee’s recent purchase is any indication, the NBFC seems to be on the right track.