L&T surpasses FY24 revenue target; projects 15% FY25 growth

10 May 2024 CW Team

Larsen & Toubro, a prominent player in engineering and construction, exceeded expectations in the fiscal year 2023-24 (April to March). The conglomerate witnessed a consolidated annual revenue growth of 21%, surpassing the projected range of 15-20%.

For the ongoing fiscal year 2024-25 (April to March), the management indicated a revenue projection of 15%, a decrease from the previous year. This adjustment primarily stems from the concurrent general election in the country and the onset of the monsoon season, factors that typically impede construction activities.

Chief Financial Officer and Whole-time Director, R. Shankar Raman, remarked during a post-earnings conference call with journalists that considering the order book standing at Rs. 4.75 trillion, they anticipate revenue growth to hover around 15% or thereabouts. He attributed this expectation to disruptions caused by the migration of laborers to their villages for voting.

In the fiscal year 2023-24, L&T's consolidated revenue from operations amounted to Rs. 2.21 trillion, marking a 21% increase compared to the previous year. Similarly, the consolidated profit after tax rose to Rs 130.59 billion, reflecting a 25% year-on-year growth. However, the consolidated operating margin experienced a decline, dropping to 10.6% in 2023-24 from 11.3% in the preceding year. The management clarified that this decline was primarily due to investments made for future growth.

Raman noted that a portion of the margin decrease resulted from investments in various aspects such as technology, equipment, resource mobilisation, subcontracting, quality standards, and safety standards, all aimed at enhancing growth prospects.

Real Estate

04 Sep 2025

Mumbai Records 11,230 Property Deals in August 2025

Mumbai’s property market remained resilient in August 2025, with 11,230 property registrations recorded under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, according to data released by Knight Frank India. While this marks a 3 per cent year-on-year (YoY) decline compared to 11,631 registrations in August 2024, activity stayed robust despite the marginal dip.On a month-on-month (MoM) basis, registrations fell 11 per cent from 12,579 deals in July 2025, indicating seasonal moderation. However, the city’s stamp duty collections still reached Rs 10 billion, reflecting a 6 per cent..

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..