Largest and Fastest Growing Construction Company (Large Category)
Easily the leader of the pack by many a mile - not to mention the biggest and the brightest technology, engineering, construction and manufacturing major Larsen & Toubro Ltd (L&T), has served more than seven decades in the industry with great distinction. Established in the year 1946 as a private limited company, the company's main businesses include its engineering and construction segments, which account for an overwhelming majority of its annual revenues. Despite the economic slowdown, L&T has managed to grow its order book to Rs 1.65 lakh crore at a rapid pace. For FY14, the company is expected to close with an order book of Rs 186,000 crore (up 21 per cent year-on-year), about 2.7 times its FY13 standalone revenue. In September, it bagged new orders worth Rs 2,683 crore across various business segments. New projects worth Rs 1,194 crore for L&T's buildings and factories business, including an order for design and construction of a mega residential project in Chennai, have been bagged. The company in difficult conditions has come up with new strategies to secure evolving markets - both domestic and international. On an international level, L&T has made a breakthrough as the Transportation Infrastructure Business of L&T Construction won an order worth AED 943.11 million for the development of the prestigious Midfield Terminal Complex - an airside construction project for Abu Dhabi Airports Company PJSC, UAE. The company has also secured a new order worth Rs 2,085 crore from the Ministry of Transport and Communications, Sultanate of Oman, for the construction of the Al Batinah Expressway Package 4. The company is also now eyeing oil and gas platform contracts in Turkmenistan.
The company's standalone revenue in 2012-2013 rose 13.8 per cent to Rs 5,8616.22 crore while its net profit rose 5.4 per cent to Rs 6,050.81 crore from Rs 5,739.83 crore in the previous year.