L&T Finance, along with subsidiary L&T Infra Credit bought Rs 1,827.5 crore of troubled loans to the Capital-backed Asset Reconstruction Company of India (Arcil) this week. It provided Rs 1,092.5 crore for the loan collection in a 15:85 structure; 15% of the consideration was paid upfront, and the outstanding was within the type of safety receipts allocated on renewal of the loan. Its Gross Stage Three (GS3) loans were Rs 3,591 crore (4.02%) of the entire loans as of September 2022.

GS3 contains loans due for more than 90 days compared to different pressured properties. L&T Finance bought Rs 162.3 crore outstanding loans sanctioned to Jharkhand Infrastructure Implementation Company worth Rs 140.5 crore, whereas L&T Infra Credit credited Rs 258.4 crore outstanding loan given to Jharkhand Road Projects Implementation Company worth Rs 215 crore.

Additionally, L&T Finance bought a pool of Rs 1,346 crore in actual property tasks, including six loans worth Rs 702 crore. These personify a Rs 655.8 crore loan rendered to Ajnara India, Rs 138.5 crore loan to Almond Infrabuild, Rs 120 crore to Prince Foundation, Rs 363.7 crore loan to Anand Divine Developers, Rs 7 crore loan to a person, Arvind Agarwal and Rs 61 crore to Buoyant Technology Constellations.

In March 2022, L&T Finance credited Rs 3,463 crore in distressed loans to Kotak Mahindra Bank-backed Phoenix ARC. The loans had been assimilated for Rs 1,120 crore under the 15:85 construction. L&T Finance and L&T Infra Credit had bid afford from ARCs to sell a portfolio containing four swimming pools with street actual property loans.