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

L&T subsidiary opens new manufacturing unit in Saudi Arabia

L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.

The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..

LT considers exit amid free rides

Larsen & Toubro (LT), the infrastructure giant, is contemplating exiting the Hyderabad Metro project due to significant revenue losses attributed to free bus rides. The potential departure of LT from this vital infrastructure initiative could have profound implications for the city's public transportation landscape.

The Hyderabad Metro, a joint venture between LT and the Hyderabad Metro Rail Limited (HMRL), has been instrumental in easing commuting woes since its inception. However, the provision of complimentary bus services alongside metro rides has substantially impacted LT's reven..

L&T optimistic about Hyderabad Metro ridership post IT Sector return

Larsen & Toubro (L&T) is optimistic about an increase in ridership on the Hyderabad Metro once employees from the Information Technology (IT) sector return to their offices. The company anticipates that the resumption of regular office operations will lead to a surge in metro commuters, boosting the system's ridership and revenue.

The Hyderabad Metro, operated by L&T, has witnessed a decline in ridership during the COVID-19 pandemic, primarily due to remote work arrangements and reduced office occupancy. With many IT companies transitioning to remote work policies and implementing flexi..

PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..

KMRL's Rs.1.16 Bn Project Delayed Due to Lack of Government Support

The Kochi Metro Rail Limited (KMRL) is experiencing setbacks in its ?1.16 billion project as several government departments have reportedly failed to provide necessary support. The project, aimed at enhancing urban transportation infrastructure in Kochi, has encountered delays due to bureaucratic hurdles and insufficient cooperation from concerned government bodies.

According to sources familiar with the matter, the project's progress has been significantly hampered as key departments have not fulfilled their commitments, including providing essential clearances and approvals. This lack..