Jul 22, 2013, 03.47 PM IST | Source: Reuters

L&T to maintain 15-17 percent growth forecast

Engineering and construction major Larsen and Toubro is not revising its growth forecase for FY14, the company's chief financial officer R Shankar Raman said.

L&T to maintain 15-17 percent growth forecast

Larsen & Toubro (L&T) is not revising its growth forecast for the current fiscal year that ends in March 2014, chief financial officer R. Shankar Raman told reporters on Monday.

Also read: L&T Q1 misses forecast, net falls 12.5% to Rs 756 cr

L&T, India's largest engineering and construction company, had in May forecast sales growth in the range of 15 to 17 percent for the current fiscal year.

L&T posted a surprise drop in its fiscal first-quarter net profit as a weak domestic economy hit spending on infrastructure projects.

Larsen stock price

On April 16, 2014, Larsen and Toubro closed at Rs 1260.50, down Rs 37.25, or 2.87 percent. The 52-week high of the share was Rs 1325.80 and the 52-week low was Rs 678.10.

The company's trailing 12-month (TTM) EPS was at Rs 51.37 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 24.54. The latest book value of the company is Rs 272.53 per share. At current value, the price-to-book value of the company is 4.63.

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