L&T | ESTABLISHED IN 1938
Founded by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro, in 1938, the company set up offices at three places in India in 1947 after Independence. It has been absolutely Indian since then. In 1948, it acquired 55 acres of marshy land in the Mumbai suburb of Powai, and turned it into a manufacturing site. In 1956, it moved its headquarters to Ballard Estate in south Mumbai. At present, it has over 130 subsidiaries and 15 associate companies. With revenues of $17 billion, L&T operates in 30 countries now. The company has been a resource institution for India in every field of the country’s development. It has spread its wings and is now active in various fields including construction, transportation infrastructure, renewable energy, power transmission and distribution, communications and ship building. Indeed, if India aspires to be a global economic power, it will be on strength of the infrastructure L&T has built. The company is also providing IT solutions in 23 countries, underpinning India’s strength in the field. Its contribution in building defence systems has also strengthened the security forces. Its consolidated gross revenue of Rs 23,990 crore for the quarter ended June 30, 2017, was a 10
per cent rise over the previous quarter. Its international revenue during the quarter, at Rs 8,233 crore, was 34 per cent of the total revenue.
WHY L&T MATTERS
It has helped India grow its infrastructure. Its work extends from upgrading the Chhatrapati Shivaji international airport in Mumbai to building the city’s first mono rail. Among its other big ticket domestic projects are the Shrinagar hydroelectric power project in Uttarakhand and Asia’s highest air traffic control tower in Mumbai.
POWER PACKED A.M. Naik, group executive chairman, joined L&T as a junior engineer in 1956