It is better to be careful with cash on hand, says L&T's S N Subrahmanyan

The company's business is broadly divided into three baskets - engineering, procurement and construction (EPC) projects, manufacturing and defence, and services

India’s largest engineering company, Larsen & Toubro (L & T), has been able to withstand the ongoing slowdown with a healthy order book growth in its core business, and its services subsidiaries in information technology and finance are doing well. S N Subrahmanyan, chief executive officer and managing director, talks to Amritha Pillay and Dev Chatterjee on how he sees growth across segments and verticals, and the company’s new initiatives in technology. Edited excerpts:
 
L&T is the market leader by miles. What has worked?
 
We have not done anything different. We have gone after the areas that we