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

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

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.

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.

Next Story
Infrastructure Urban

Statiq and HPCL Partner to Boost EV Charging Network Across India

In a major step towards building a robust electric vehicle (EV) charging ecosystem in India, Statiq is proud to announce its partnership with Hindustan Petroleum Corporation (HPCL), one of the country’s leading oil marketing companies. Under this strategic collaboration, Statiq will onboard HPCL’s entire charging network — both existing and upcoming — onto the Statiq mobile app through its flagship EVLinq platform.This integration adds over 5,100 chargers from HPCL’s network, including 2,900 DC fast chargers, to Statiq’s platform, significantly strengthening one of India’s larges..

Next Story
Infrastructure Transport

CM Unveils Common Mobility Card for Metro Line 3 Commuters

Starting June 11, passengers on Mumbai Metro’s underground Metro 3 line—operational between Aarey-JVLR and Acharya Atre Chowk—can now use the National Common Mobility Card (NCMC) for seamless, contactless travel. The Mumbai Metro Rail Corporation (MMRC), responsible for constructing, operating, and maintaining Metro 3, has enabled this functionality to simplify the commuter experience.The NCMC card, launched at Mantralaya in the presence of key state leaders, allows commuters to tap and travel without waiting in queues at ticket counters. This move extends the card’s usability beyond M..

Next Story
Infrastructure Transport

Centre Fast-Tracks Rs 111.50 Bn for 3 New Delhi Metro Corridors

The Central government has advanced plans for three new metro corridors in Delhi under the PM GatiShakti infrastructure framework, with a total proposed investment of approximately Rs 111.50 billion. The corridors include R K Ashram to Indraprastha, Aerocity to Terminal-1, and Tughlakabad to Kalindi Kunj.Together spanning over 16 km, these projects have recently been reviewed by the National Planning Group and are expected to be placed before the Cabinet for approval.Among the proposed routes, the R K Ashram to Indraprastha corridor will be the longest and fully underground, comprising nine st..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?