Under its CSR initiative, the Company has successfully planted 50,000+ saplings on 140 acres of farmers’ land in Pavagada
by Suman Gupta
February , 2023, Pavagada, Tumkur, Karnataka: Under its Corporate Social Responsibility (CSR) initiative, L&T Financial Services (LTFS), one of the leading Non-Banking Financial Companies, is driving plantation under Project Prakruti at Pavagada, a Taluk in Tumkur district of Karnataka. Under this project farmers have successfully planted over 50,000 saplings on 140 acres of farmers’ land. The saplings like Pomegranate, Mango, Mosambi, Coconut, Mahogany, Sandalwood, Betel nut are grown to provide additional sources of income for the farmers. This plantation shall further help to restore biodiversity balance, improve soil health and reduce erosion. LTFS has undertaken this initiative along with a Bangalore-based NGO – Aahwahan Foundation.
Speaking on this occasion, Mr. Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Ltd. said, “As an ESG-driven organisation, we understand that the right ethical, environmental, and social responsibility is the true enabler for profitability and sustainable future growth. Keeping the same in mind, through our CSR initiative like Project Prakruti, we aspire for an inclusive social transformation of the rural communities we serve, by nurturing and creating opportunities for sustainable livelihoods for them. Through Project Prakruti, we are also reaching out to the marginalised farmers in rural areas and we believe that our initiative will help significantly augment their income as all saplings are of high-quality and would benefit them and their families for the next 10-15 years.”
In the second year of the project which will begin from next financial year, LTFS shall work with the farmer groups to build their capacities in forming the farmers collective, training and capacity building for better farming, harvesting of plantation, backward and forward linkages, etc.
Mr. Braja Kishore Pradhan, CEO of Aahwahan Foundation said, “We are glad to have this association with LTFS as we believe that apart from empowering farmers, this would also reaffirm the importance of farming and replenishing nature in the current times of global climate crisis. Together with LTFS, we have been actively working in the upliftment of underprivileged and marginalised communities with a special focus on environmental protection and community development.”
About L&T Finance Holdings (LTFH):LTFH (https://www.ltfs.com), a leading Non-Banking Financial Company (NBFC), offers a range of financial products and services through its wholly-owned subsidiaries. L&T Financial Services (LTFS) is the brand name of L&T Finance Holdings Limited and its subsidiaries. Headquartered in Mumbai, the company has been rated AAA — the highest credit rating for NBFCs — by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social and Governance (ESG) rating providers for its sustainability performance. The company was awarded FICCI’s Corporate Social Responsibility Award for “Women Empowerment” and “Maharashtra CSR Award” for its flagship Digital Sakhi project.
Under Right to Win, being in the ‘right businesses’ has helped the company become one of the leading financiers in key retail products. LTFH is focused on creating a top-class digitally enabled retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product-focus to customer-focus and establish a robust retail portfolio with quality assets, thus creating a Fintech @ Scale while keeping ESG at the core. Fintech @ Scale is one of the pillars of the company’s strategic roadmap – Lakshya 2026. The company has over 7 crore customer database, and this database is being leveraged to cross-sell, up-sell as well as identify new customers.
