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.

Larsen and Toubro
Larsen and Toubro
Press Trust of India New Delhi
2 min read Last Updated : Aug 04 2022 | 11:35 PM IST

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 the plan, he said.

Naik further said India is expected to post "top quartile growth" among emerging markets in the medium term. The challenges on the horizon include high oil and commodity prices, supply chain disruptions and the US rate hikes affecting capital flows into India.

"However, despite these roadblocks, our view is that the bold structural reforms carried out by the government in the last couple of years will pave the way for a higher trajectory of growth," Naik said.

The company's board has recommended a final dividend of Rs 22 per share for 2021-22.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :L&T Larsen & Tourbo L&TIndia's infrastructure

First Published: Aug 04 2022 | 6:03 PM IST

Next Story