L&T aims to nearly double order book to Rs 15 lakh crore by 2031
Larsen & Toubro (L&T) aims to nearly double its order book to Rs 15 lakh crore by 2031, driven by expansion in energy, electrolysers, semiconductors, data centres and manufacturing.
President and Whole-time Director (Finance) R Shankar Raman said on Wednesday that the target is achievable if fresh ordering grows at 15% year-on-year from the current Rs 8.5 lakh crore.”Manufacturing thrust, consolidation and automating construction infrastructure, making the new areas of renewable and hydrogen work and pushing the services business forward, all of these together, will make the company far far stronger from what it is today by 2031,” Raman told journalists.
The engineering and construction conglomerate is also focusing on renewables, hydrogen, automation and strengthening its services business.
L&T expects its international business to outpace domestic operations. While India accounted for 75% of revenue a few years ago, the split is now 50:50 between India and the Middle East. By 2031, India and the Middle East could each contribute 40% of revenue, with new geographies including Europe, Central Asia and the Far East accounting for the remaining 20%.
The company’s overseas order book stands at $45 billion, of which $30 billion is from the Middle East. Saudi Arabia is its largest overseas market, followed by the UAE and Qatar. L&T has nearly 150 operational sites in the Middle East employing 55,000 people, all operating normally despite regional conflict, the company said.
