Page 12 - L&t

L&T Group aims Rs 2.7 trillion revenue by FY26: Chairman A M Naik

Infrastructure major Larsen and Toubro (L&T) Group is targeting Rs 2.7 lakh crore revenue by financial year 2025-26, its Chairman A M Naik said on Thursday. "We are targeting group revenues of Rs 2,70,000 crore...by FY26. The group recorded revenues of Rs 1,56,521 crore during FY 2021-22, registering a growth of 15 per cent," he said at the company's 77th Annual General Meeting (AGM). As of March 31, 2022, the company's order book was at Rs 3,57,595 crore. Currently, the Middle East constitutes 76 per cent of the international order book of Rs 95,227 crore. In 2021-22, profit after tax was Rs 8,572 crore, a year-on-year (y-o-y) growth of 23 per cent. Naik said the company has also launched 'Lakshya 2026' plan which includes exit from non-core businesses, developing innovative business offerings, scaling up digital and e-commerce businesses, focus on Environmental, Social, and Governance (ESG) and shareholder value creation. The Rs 2,70,000-crore revenue target is also a part of ..

L&T gains 4% after net profit spikes 45% YoY to Rs 1,702 crore in Q1FY23

Analysts believe that the company's strong order book position at Rs 363,448 crore suggests good revenue visibility in the coming years.

L&T beats estimates as Q1 net profit surges 45% YoY to Rs 1,702 crore

But sequentially, it declines 53% amid inflationary pressure & Rs depreciation

L&T Q1FY23 results: How the company performed in the last four quarters

Larsen & Toubro has seen a steady rise in net profits over the previous four quarters

L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR

L&T Realty has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet.

L&T aims to grow IT & Tech services revenue to high teens by 2026

The group will also be entering new-age businesses that it has incubated, such as L&T EduTech and L&T SuFin, a B2B e-commerce platform for industrial and construction products

L&T CEO Subrahmanyan gets 115% jump in salary in FY22 as business grows

Total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows

Stocks to watch: HCL Tech, BoB, Coal India, L&T, Paytm, SpiceJet, Wipro

Stocks to watch today: HCL Technologies will report June quarter results 2022 (Q1FY23) on Tuesday, July 12; Coal India ramped up capex plans to Rs 3,034 crore, up 64.8 per cent in June quarter 2022.

Adani, L&T among 18 firms to show interest in BSES smart meter tender

With 5 million meters, this is the largest tender in the country

Infra, cement cos feel pinch of falling rupee, realty counts on more sales

Despite rise in interest rates and property prices, momentum in housing demand expected to stay, say developers; infra, cement companies remain circumspect

Sensex falls 992 pts from day's high, ends 137 pts down; SBI sheds 5%

CLOSING BELL: SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender's Q4 missed Street's estimates

Indices end at 9-wk lows ahead of CPI inflation data; Sensex drops 1,158pts

CLOSING BELL :: The S&P BSE Sensex opened gap-down and sunk 1,386 points intra-day to hit a low of 52,702 levels

Current slowdown could be temporary, multiple long-term triggers in L&T

Q4 is expected to be soft and any corrections could offer a good entry in the stock

L&T's transportation infrastructure business bags 'significant' contracts

Larsen & Toubro (L&T) on Tuesday said its transportation infrastructure business has secured various orders from prestigious clients. The company did not provide the value of the contracts, but said the orders fall under the "significant" category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts. The business has secured an order from the Tamil Nadu Road Infrastructure Development Corporation to construct the Chennai Peripheral Ring Road EPC-02 package of section-II in the engineering, procurement and construction (EPC) mode. The scope of work broadly includes constructing a six-lane greenfield highway of 12.80 kms with flexible pavement, two-lane service roads and paved shoulders on both sides of the carriageway, at-grade intersections, major/minor bridges, vehicular/light vehicular/ small vehicular underpasses, and culverts followed by maintenance for seven years, L&T said in a statement. The railways business unit ...

L&T appoints former Citibank India head Pramit Jhaveri as director

Larsen & Toubro Limited (L&T) has appointed former Chief Executive Officer of Citibank India Pramit Jhaveri as independent director. The board also approved the appointment of Jhaveri as an independent director of the company for a period of five years with effect from April 1, 2022, L&T said in a statement. He is also senior advisor to Premji Invest and PJT Partners and an independent director on the board of Bajaj Finance Limited. Prior to his current activities, he was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019.

Flight control system integration facility for DRDO built in 45 days: L&T

Larsen & Toubro (L&T) on Monday said that it has constructed a seven-storey state-of-the-art flight control system integration facility for the Defence Research and Development Organization in just 45 days. The facility was inaugurated on March 17 by defence minister Rajnath Singh. "The buildings business of Larsen & Toubro has set a record by constructing the 7-storey, state-of-the-art Flight Control System (FCS) integration facility for the Defence Research and Development Organization (DRDO) in just 45 days using Integrated Hybrid Modular Construction Technology (IHMCT)," the company said in a statement. This facility shows that India can build anything in a short span of time, DRDO Chairman G Satheesh Reddy said. The project commenced on February 1, 2022, and the building has been constructed on 1,30,000 sq feet.

Adani, L&T among firms keen to build satellite launchers: Govt

The government Thursday said Adani Enterprises Limited and L&T are part of two consortia led by State-run enterprises that have evinced interest in building the Polar Satellite Launch Vehicle (PSLV), the ISRO's warhorse rocket to put satellites in orbit. In a bid to encourage private sector participation in the space sector, New Space India Limited (NSIL), a company under the Department of Space, had invited proposals from the Indian industry to build five PSLVs. Minister of State in the PMO Jitendra Singh said two consortia, one comprising Hindustan Aeronautics Limited and Larsen & Toubro, and another involving Bharat Electronics Limited (BEL), Adani Enterprises Limited (AEL) and Bharat Earth Movers Limited (BEML), have submitted techno-commercial proposals for building PSLV. State-run Bharat Heavy Electrical Limited too has submitted a techno-commercial proposal for end-to-end realisation of PSLV, he told the Rajya Sabha in response to a question by NCP member Vandana ...

Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%

CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers

Stocks to Watch: Wipro, L&T, Sun Pharma, Zomato, Deepak Nitrite, PNB, NHPC

Wipro will be in focus as the company's board will meet on March 25 to consider an interim dividend.

CCI approves acquisition of L&T AMC by HSBC Asset Management

Fair trade regulator CCI has approved the acquisition of L&T Investment Management Ltd by HSBC Asset Management (India) Pvt Ltd. "Commission approves acquisition of 100 per cent share capital of L&T Investment Management Ltd (L&T AMC) by HSBC Asset Management (India) Private Limited (HSBC AMC)," the regulator said in a tweet. The transaction involves the acquisition by HSBC AMC and its nominees of 100 per cent share capital of L&T AMC from L&T Finance Holdings Ltd and its nominees, a notice filed with the regulator said. Simultaneously, there will be a change in the sponsorship, trusteeship, management and administration of the L&T Mutual Fund schemes managed by L&T AMC. The L&T MF schemes will be managed and operated by HSBC AMC, and HSBC Trustee will be appointed as the trustee of the L&T Mutual fund. "Pursuant to the proposed transaction, the L&T MF will comprise part of and be considered to form an integral part of the HSBC Mutual Fund ...