In an interview to CNBC-TV18, SN Subrahmanyan, MD & CEO of Larsen and Toubro (L&T) spoke about the latest happenings in the company.
“We were cautiously optimistic at the beginning of 2017 and as we went on, there were significant gains”, he said.
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, he added.
Few order bookings got delayed, which led to order inflow guidance miss for Q4 of FY17, he further mentioned.
He believes that the momentum will come back.
He also said that a lot of initiatives and proactive steps have been taken by the government.
Speaking about pain points, he said, “L&T-IDPL is a pain point, our forge shop where we have a joint venture with Nuclear Power is a pain point, Hyderabad Metro is a point that we need to overcome”.
L&T-IDPL is a long-term game he said. The management is discussing what the strategy should be and how they need to go forward with the business.
Telangana government is supporting the company for Hyderabad Metro project he said. “All clearances have more or less come through and two lines of that project will be ready for opening sometime during September and October”, he added.
For full interview, watch video...
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