 "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 the plan, he said.
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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.
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