L&T Switchgear rebrands to Lauritz Knudsen, invests Rs 8.5 bn
ECONOMY & POLICY

L&T Switchgear rebrands to Lauritz Knudsen, invests Rs 8.5 bn

Following L&T?s strategic divestment of its electrical and automation business back in 2020, the company became a part of the Schneider Electric Group. It was unveiled that the company planned to invest Rs 8.50 billion over the next three years through 2026, with a focus on manufacturing, fresh R&D, and innovation.

In its announcement, the company stated its intention to uphold its core values strategically and continue to conceptualise, design, and Make in India, for India and the global market. Peter Herweck, Chief Executive Officer at Schneider Electric, remarked during the occasion that Lauritz Knudsen's vision prioritises innovation and excellence, aligning closely with India?s growth narrative. He further stated that Lauritz Knudsen aimed to strategically invest approximately Rs 8.50 billion over the next three years, reinforcing its role as a significant player in India?s rapidly growing electrical sector.

Peter Herweck also expressed his belief that India holds a solid position for manufacturing ecosystem in the current geopolitical perspective. Deepak Sharma, Zone President ? Greater India, MD & CEO of Schneider Electric India, mentioned that as they embrace the ?Two Brands Two States? strategy in India with Schneider Electric & Lauritz Knudsen brands, their aim would be to make an even stronger contribution in India?s transformative journey.

Sharma additionally noted that the company?s business has been growing at a double-digit rate since the strategic divestment. He stated that the company now exports to about 30 countries across the globe, including Middle East and Africa regions, marking an increase from 10 countries since the divestment.

Lauritz Knudsen, previously known as L&T Switchgear, has been active for over seven decades now, with manufacturing units covering 2.1 million square feet area. The company serves projects and infrastructure including power plants, refineries, water and waste water management, airports, metro, offices, stadiums, universities, and hospitals.

Following L&T?s strategic divestment of its electrical and automation business back in 2020, the company became a part of the Schneider Electric Group. It was unveiled that the company planned to invest Rs 8.50 billion over the next three years through 2026, with a focus on manufacturing, fresh R&D, and innovation. In its announcement, the company stated its intention to uphold its core values strategically and continue to conceptualise, design, and Make in India, for India and the global market. Peter Herweck, Chief Executive Officer at Schneider Electric, remarked during the occasion that Lauritz Knudsen's vision prioritises innovation and excellence, aligning closely with India?s growth narrative. He further stated that Lauritz Knudsen aimed to strategically invest approximately Rs 8.50 billion over the next three years, reinforcing its role as a significant player in India?s rapidly growing electrical sector. Peter Herweck also expressed his belief that India holds a solid position for manufacturing ecosystem in the current geopolitical perspective. Deepak Sharma, Zone President ? Greater India, MD & CEO of Schneider Electric India, mentioned that as they embrace the ?Two Brands Two States? strategy in India with Schneider Electric & Lauritz Knudsen brands, their aim would be to make an even stronger contribution in India?s transformative journey. Sharma additionally noted that the company?s business has been growing at a double-digit rate since the strategic divestment. He stated that the company now exports to about 30 countries across the globe, including Middle East and Africa regions, marking an increase from 10 countries since the divestment. Lauritz Knudsen, previously known as L&T Switchgear, has been active for over seven decades now, with manufacturing units covering 2.1 million square feet area. The company serves projects and infrastructure including power plants, refineries, water and waste water management, airports, metro, offices, stadiums, universities, and hospitals.

Next Story
Real Estate

Dharavi Rising

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

Next Story
Real Estate

MLDL Records 20.4% Growth in Pre-Sales

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial results for the quarter ended March 31, 2025. In line with INDAS 115, the company recognises revenues using the completion of contract method. Key highlights FY25: Consolidated sales (Residential and IC&IC) of Rs 32.99 billion. Gross development value (GDV) additions in FY25 were Rs 1.81 trillion compared to Rs 440 billion in FY24 (~4x growth). Residential pre-sales of Rs 28.04 billion in FY25, reflecting 20.4% growth o..

Next Story
Infrastructure Transport

UCSL Delivers India's First Green Cargo Vessel to Norway

In a landmark achievement for Indian shipbuilding and the Atma Nirbhar Bharat initiative, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has delivered the first of six next-generation green cargo vessels to Norway-based Wilson Ship Management AS, Europe’s largest short-sea shipping operator. The 3,800 DWT vessel, named Wilson Eco 1, was handed over during a ceremony at New Mangalore Port. The delivery is part of a Rs 5.06 billion project supported by Norway’s green maritime funding programme, marking India's entry into the European eco-friendly ca..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?