L&T ups IT work in Karnataka

Larsen & Toubro, the Rs 10,000 crore engineering giant, is expanding its engineering services and embedded software presence in Karnataka.

The company is stepping up its only centre for embedded software, in Mysore, significantly and is expected to employ close to 500 professionals over the next one year from the current strength of 200.

L&T is also expanding its engineering services centre in Bangalore and is expected to employ close to 500 people in two years, from the current strength of 100. The company has similar centres in Chennai and Baroda.

Announcing this on Monday, L&T CMD A M Naik said: "Our IT & Technology Services division is expanding fast and these expansions in Karnataka is a reflection of that. This is in addition to the expansion of L&T Infotech, a subsidiary of our company and focuses on the financial services sector."

Commenting on the company's other businesses after the demerger of its cement business, Naik said: "We are repositioning our company as a global player in high-end infrastructure, core sector, heavy engineering, electrical & electronics and IT & engineering services. We have hired Boston Consulting Group to advice us on the next five year strategic route and this should be ready by February 2005."

He further added that L&T recently clinched orders worth Rs 120 crore for hydrocarbon reactors from China and Kuwait. In addition to this, L&T is getting actively involved in nuclear and space sectors and is getting orders on a regular basis.

Speaking on the Bangalore International Airport project in which L&T has a 13 per cent stake, Naik said: "As we see, the pending issues are with the Karnataka government. They are yet to sign the land lease agreement."