L&T handles Rs 45k cr road, infra projects

Larsen & Toubro (L&T) Chief Financial Officer R Shankar Raman has said that currently the company handles a portfolio of infrastructure assets worth Rs 45,000 crore comprising 19 road projects, three port projects and the Hyderabad metro project. Raman said that the company plans to divest its stake in L&T Infrastructure Development Projects (IDPL) by the end of the fiscal. Raman told the media in Mumbai that L&T IDPL has been a major player in public private partnership (PPP) projects space with interests in roads and bridges, ports, metro rail and emerging sectors such as transmission lines, water and railways. At the moment diluting stake in IDPL is the main focus. L&T needs to close the transaction that is the company's stated objective. The company's aim is to complete the transaction by the end of the year, he added.