"Our innovative strategies in this election year for growth will be expanding the footprints, strategic tie-ups for technology and improving operational excellence by surpassing industry benchmarks." - SN Subrahmanyan, Whole Time Director & Sr EVP (Infrastructure & Construction)
Come hell or high water (to be read as economic downturn), this is one Indian multinational that always demonstrates a never-say-die attitude. EPC giant L&T has displayed a sunshine spirit that stems from a breathtaking all-round performance which borders on arrogance. But ask anyone at L&T and they will ascribe it to good old solidity. The company witnessed an impressive rise in its order inflow during 2012-13 compared to the previous fiscal, securing several projects across sectors including building, construction, power transmission and distribution, defence, hydrocarbons, transport, renewable and water. An increasing share of export sales reflects the firm's growing thrust on internationalisation. The company consolidated its position as an international player by acquiring a 50 per cent stake in L&T-Komatsu (LTK), which manufactures construction equipment and hydraulic components, and is a wholly-owned subsidiary of Komatsu (Komatsu), Japan. No wonder it is high up in the affections of both investor and customer. But there will be no resting on past laurels. "Through diversification, penetration and expansion into new markets within and outside India, we will continue to consolidate our strong presence in different businesses and grow exponentially," declares SN Subrahmanyan, Whole Time Director & Sr EVP (Infrastructure & Construction) with a supreme confidence which can only be admired.
On innovation: L&T Construction has initiated several innovations in all areas of its business - buildings and factories, heavy civil infrastructure, transportation, power transmission and distribution and water and renewable energy. This has been executed with a clear focus on the areas of supply chain management, cost competitiveness, operational excellence, value engineering and improved capacity utilisation.
On the company's USP as an EPC contractor: L&T takes pride in delivering projects in time as per the customer's requirements, without compromising on quality and safety. The companys's world-class construction methodologies serve as a major differentiator with our domestic competitors.
On criticality of HR: L&T Construction has undertaken several HR initiatives with a clear focus on enhancing project planning and execution. A number of in-house training and development programmes are conducted to address the skill gap enhancement. In addition to this, to enhance project planning and project execution capability, customised programmes are conducted such as Project Management for Execution Excellence (PMEE), Mentoring & Augmenting Planning Skills (MAPS), project site interventions through Diagnostically Evolved Site Intervention (DESI) programmes etc. The company has maintained the culture of nurturing fresh talent from educational institutions, training them, entrusting them with different roles, providing challenging work profiles, thereby creating a pool of future leadership. An investment of about Rs 20 crore for HR training activities and close to 2 lakh training hours are testimonial to the company's commitment and initiatives to train and empower its manpower and augment its capability portfolio.
Vision statement: L&T shall be a professionally managed Indian multinational committed to total customer satisfaction and enhancing shareholder value.
Most noteworthy projects
1. Solar Photovoltaics Power Plant at Phalodi, Rajasthan 2. Kattupalli Shipyard cum Minor Port 3. ITC Grand Chola, the world's largest LEED-certified green hotel. 4. 400 kV Double Circuit Karcham Wangtoo-Abdullapur Transmission Line
Year of establishment: 1938 Top management: AM Naik, Executive Chairman; K Venkataraman, CEO & Managing Director; MV Kotwal, Whole Time Director and President - Heavy Engineering; SN Subrahmanyan, Whole Time Director & Sr EVP (Infrastructure & Construction); R Shankar Raman, Whole Time Director and CFO; Shailendra Roy, Whole Time Director & Sr EVP (Power & Corporate Affairs) No. of employees: 26,250 (as of March 2013) for L&T Construction Turnover: `36,806 crore (FY 2012-2013) for L&T Construction Current year order book: `11,7119 crore (FY 2012-2013) for L&T Construction Range of projects: Buildings and factories (commercial buildings and airports, residential buildings, factories), heavy civil infrastructure (metros and defense, ports, SB and Tunnel, hydel), transportation infrastructure (roads and runways, railways), power transmission and distribution (transmission line, substations, industrial electrification), water and renewable energy (water supply and treatment, waste water and industrial water systems) and metallurgical and material handling (minerals and metals, bulk material handling)