Q: Your international operations have grown as a percentage number of sales. Why has that happened and do you see an impact of the rupee? On L&T’s imports, that impact is not much. Could you explain that?

A: Our international operations have been about 17-18% of total sales and that is at the same level as of last year. We have maintained our international operations at the same level. A large part of our trade is dollar denominated and therefore exports will get affected when the rupee strengthens. In our case, we have got compensating elements. First, we have imports and second we are also borrowing in foreign currency. Therefore, both cases got to compensate. As far as our operations are concerned, in the first six months there has been no adverse impact due to the strengthening rupee.

Q: Your order book has grown by nearly 26%. You had given a yearly outlook of 25-30%. Do you see that been revised upwards?

A: Whatever earlier we had expected, i.e. 25-30%, will be maintained during the balance period of the year. Also, sales growth will be probably the same at about 30%. We expect margins to be maintained at the same level as what we had achieved over the last year.