L&T orders swell 24 per cent to Rs52,000 crore in 2008-09
16 April 2009
Engineering and construction major Larsen & Toubro Limited (L&T) today reported a 24 per cent growth in orders at Rs52,000 crore during the 2008-09 financial year, compared with Rs42,000 in the previous financial year.
L&T said it bagged a number of prestigious orders, both domestic and international, from diverse sectors, the company said in a release. The company said it expects orders to grow 25-35 per cent in 2009-10 fiscal as well.
The company said orders have come from both the traditional sectors such as hydrocarbon and infrastructure as well from new businesses like power equipment and railways.
''Some of the orders, particularly in the hydrocarbon sector, that were expected in FY09 are likely to get decided in FY10 adding to the order inflow prospects for 2009-10,'' the release pointed out.
L&T has, in the recent past, been investing in creation of capacities and capabilities in areas which have good long term prospects for value creation. These initiatives will enable the company to tap opportunities in several areas, including power and railways.
Further, given their criticality to the overall economic development, the infrastructure and hydrocarbon sectors are expected to continue their contribution to the order book.
L&T expects a healthy growth in its order inflows in the range of 25-35 per cent in FY2009-10 despite the global economic downturn.