The Mumbai Trans Harbour Link (MTHL) project will give a fillip to cement, to steel, to a lot of local employment and to all around economic development around Mumbai, said SN Subrahmanyan, MD & CEO of Larsen and Toubro (L&T).
This is a very positive step and signals well for the country, economy as well as the business, SN Subrahmanyan, MD & CEO, Larsen and Toubro said.
Larsen & Toubro's (L&T) defence division delivered another two high speed ships to the Indian Coast Guard seven months ahead of schedule. This is part of the two contracts being executed by the company for design and construction of 54 interceptors to Indian Coast Guard.
Larsen & Toubro (L&T) is in focus after they bagged a big order win of Rs 3375 crore from the Mauritius government. In an interview to CNBC-TV18, Rajiv Jyoti, CEO-Railway Strategic Unit at L&T discussed about the order and latest happenings in the company.
Demonetisation impacted growth in the real estate segment as well as the switchgear segment because of which the company had to slowdown the pace of the construction (in real estate segment) to maintain working capital, SN Subrahmanyan, MD & CEO of L&T told CNBC-TV18.
The economy has seen signs of a capex cycle recovery off late with stocks like Larsen and Toubro (L&T) surging over 30 percent in 2017 so far while Voltas has gained 53 percent. On the side-lines of Citi India Investor Conference, Anisha Jain of CNBC-TV18 caught up with Venkatesh Balasubramaniam, Director-Capital Goods and Construction, Citi India and MV Gowtama, the CMD at Bharat Electronics.
The company will have a major stake in the construction of the nuclear power plants, said SN Roy, Whole Time Director & Sr VP, Power, Heavy Engineering & Nuclear, L&T.
“We see more opportunities in East African region”, T Shivaraman, MD & CEO of Shriram EPC told CNBC-TV18.
L&T Hydrocarbon, a fully owned subsidiary of L&T has signed a 5-year agreement with Shell Engineering for engineering, procurement, construction and management services.
L&T hopes to be at forefront of India‘s defence programme and expects the country‘s defence sector to be a Rs 70,000 crore opportunity, Chairman AM Naik told CNBC-TV18 in an exclusive interview.
In an interview to CNBC-TV18, Naveen Sawhney, MD of Cords Cable spoke about the latest happenings in his company and sector.
The defence ministry has announced to award contracts for the development of future infantry combat vehicles. The ordinance factory board will go up against 5 private players in the fight for a 60,000 crore rupee contract.
Thermax MD MS Unnikrishnan said the industry may not see a full recovery in sectors like power, cement, steel, oil and gas and fertilisers.
L&T Chairman Naik says the proceeds of the stake sale in L&T General Insurance to HDFC Ergo will go towards meeting the company's working capital needs of other core businesses.
B Malla Reddy, MD, Astra Microwave Products and Rajinder Bhatia, CEO, Defence Space & Aerospace, Kalyani Group hail new policy, but concur government will have to think out of the box to move processes faster.
The engineering and construction major is also interested in taking on government as a strategic partner. Defence procurement policy is a shot in the arm for company, says Senior VP, Defence & Aerospace
In an interview with CNBC-TV18, JD Patil, Senior VP and Head of Defence and Aerospace at L&T said that the current government has provided orders worth Rs 2.4 lakh crore over the last two years.
In CNBC-TV18's special series -- 'Ideas for India' -- Shankar Raman, Director-Finance, L&T; Anil Sardana, MD, Tata Power and MS Unnikrishnan, CEO, Thermax India talk about their Budget expectations on infrastructure spending by the government.
SN Subrahmanyan, Deputy MD and President of Larsen & Toubro says the company has prospect projects in the hydrocarbon space and gas exploitation business and the company is L1 in considerable number of its orders.
Manish Mohnot, MD, Kalpataru Power says the company recently won transmission line projects in Malawi and Kuwait worth Rs 594 crore and another pipeline project from ONGC worth Rs 187 crore
L&T Group Executive Chairman AM Naik believes the Governor needs to do more in terms of a bigger rate cut, in order to give the economy a much-needed boost.
Post this capital infusion by Bain Capital, the capital adequacy for the company would go up by 2 percent from the current 14.5 percent, said , N Sivaraman, President & Whole Time Director, L&T Finance Holding.
Rajesh Kumar, Joint MD, Salzer Electronics says Kumar says promoter stake has come down to 25.5 percent from 30 percent.
For 2015-16, L&T Infotech is targeting profit of USD 141 million and revenues of USD 950 million, L&T chairman AM Naik told CNBC-TV18.
The company would not require joint ventures for further push in defence sector business because it already has established facilities and technology to handle more business, said MV Kotwal, president of heavy engineering, L&T.