Largest and Most Profitable Construction Company Larsen & Toubro (L&T)
ECONOMY & POLICY

Largest and Most Profitable Construction Company Larsen & Toubro (L&T)

Larsen & Toubro (L&T), an Indian multinational company founded in 1938 and headquartered in Mumbai, operates across the globe in over 50 countries. It specialises in EPC projects, high-tech manufacturing and various services. The company is a major player in vital sectors of the economy, ...

Larsen & Toubro (L&T), an Indian multinational company founded in 1938 and headquartered in Mumbai, operates across the globe in over 50 countries. It specialises in EPC projects, high-tech manufacturing and various services. The company is a major player in vital sectors of the economy, providing end-to-end solutions from design to delivery for a wide range of industries and across industry verticals. Its offerings encompass engineering, construction, technology and manufacturing, including services like hydraulics, hydrocarbon, rubber processing machinery, shipbuilding and valves.L&T's operations are structured into various business segments, including infrastructure, power, heavy engineering, electrical and automation, hydrocarbon, IT and technology services (TS), financial services, developmental projects and others. With manufacturing facilities in eight countries besides India and a global network of offices and supply chains, the company has a strong international presence. Relentless focus on customer satisfaction and commitment to top-tier quality have led to over 80 years of leadership across all its business lines.In the fiscal year ending March 31, 2024, the group reported revenues of Rs.2.21 trillion, representing a 20.6 per cent growth compared to Rs.1.83 trillion the previous fiscal year, driven by improved project execution and a robust order book. Notably, the IT and Technology Services (IT and TS) sectors experienced substantial growth despite concerns about a slowdown in global spending.For FY2023-2024, L&T reported strong financial growth. Domestically, it generated Rs.1.34 trillion, up from Rs.1.14 trillion the previous year. International revenues rose to `950.86 billion, compared to Rs.687.87 billion the year before. The group’s consolidated PAT reached `130.59 billion, marking a 25 per cent increase from the previous year. This performance was driven by robust order inflows across various sectors, including infrastructure and energy projects.L&T’s order book reached a record high of Rs.4.11 trillion in FY 2023-24, showcasing robust demand across the infrastructure, power and hydrocarbon sectors. This figure represents a 7 per cent growth compared to Rs.3.85 trillion in FY2022-23. The company’s diversification strategy, with projects in sectors such as water management, smart cities and renewable energy, has played a crucial role in maintaining steady order inflows.

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