I'd like to know how this beautiful "letter image" I found on web was done:

[![enter image description here](https://i.stack.imgur.com/59WEf.jpg)](https://i.stack.imgur.com/59WEf.jpg)

I have attempted with Photoshop CS6 using two Layers and a nice texture to achieve the text, but the result is approximate. 

If somebody is so kind to explain to me in detail how organize only the layers (no background)?