Mumbai-based investment advisor Amey Kulkarni's testimony comes hours after L&T HR head shared a lengthy statement on LinkedIn highlighting how chairman SN Subrahmanyan's words were taken out of context.
Sonica Muraleedharan, who has worked with the multinational conglomerate for about five years, said she was present at the meeting where the comments were made.
'There was no agenda except that he wanted to learn. He struck me as humble, amiable and affable,' billionaire Sanjeev Bikhchandani wrote recalling meeting SN Subrahmanyan for the first time at L&T's corporate office in Delhi last November.
Meanwhile, a spokesperson from L&T said that their chairman SN Subrahmanyan’s remarks reflect a larger ambition of nation-building and, emphasised that 'extraordinary outcomes require extraordinary effort'.
While these leaders promote hustle culture, a growing number of workers, particularly younger generations like Gen Z, prioritise flexibility and personal well-being.
Joy Bhattacharjya argued that such leaders often fail to acknowledge the role of these external factors in their success, believing it was purely their talent and hard work.
Shiv Sena (UBT) MP Priyanka Chaturvedi, actor Deepika Padukone and RPG Group chief Harsh Goenka are among the people who have slammed SN Subrahmanyan for telling employees 'I regret I am not able to make you work on Sundays'
Rajiv Bajaj added that while companies needed to get the necessary job done, work hours were not the most defining factor holding back businesses.
In response, L&T defended its chairman’s comments, framing them as part of a broader vision for nation-building and the extraordinary effort required to achieve ambitious goals.
L&T's annual report for FY24 showed that the median wages of over 59,000 permanent workers stands at Rs 9.55 lakh
In the undated video, SN Subrahmanyan was responding to an employee's question about why the company mandated working on Saturdays. He stated, 'I regret I am not able to make you work on Sundays, to be honest. If I can make you work on Sundays, I will be more happy because I work on Sundays also.'
Between the two companies, L&T Group has trained around 35,000-40,000 engineers in generative AI skills.
Moneycontrol was the first to report about AM Naik’s decision to step down and SN Subrahmanyan succeeding him. Subrahmanyan takes over the top job on June 27
L&T’s storied history is witness to how Naik built the company even as he faced, resisted, and succeeded in bitter takeover battles. “L&T has been my life,” Naik said in a statement announcing the change in leadership.
As a part of its asset-light strategy, L&T has identified some non-core operations that it wants to exit.
L&T aims at revenue of Rs 2.7 trillion by FY26 as against Rs 1.4 trillion in FY21. Order inflow target is set at Rs 3.4 crore by FY26, as against Rs 1.7 crore in FY21.
In an exclusive interview with Moneycontrol, L&T CEO SN Subrahmanyan talks about the road ahead, aspirations to be zero debt and a clean energy solutions provider, and how he is incubating startups within one of India’s oldest infrastructure groups.
Larsen and Toubro managing director SN Subrahmanyan on his management style, the books that have influenced him and advice on running companies.
The Mindtree AGM turned out to be anticlimactic
The appointment was approved by the company board on April 7 and marks a major change in leadership positions at L&T where Naik has served for over 52 years, including as its head for over 17 years, the company said in a statement.
Larsen & Toubro has appointed SN Subrahmanyan as the CEO & MD of the organisation, effective the first of July. Also, AM Naik, who is currently the Group Executive Chairman of L&T has been appointed the Non-Executive Chairman of L&T for three years.
Stepping into AM Naik’s shoes would not be an easy task but is confident of taking the company forward on a high growth path and make Naik proud, said SN Subrahmanyan of L&T.
Balance sheet strong enough to take some pain, company hesitant about concession business.
By October 2017, engineering giant L&T‘s Group Chairman Anil Manibhai Naik will hang up his boots and pass the baton to SN Subrahmanyan or SNS as he is popularly known in the company. For SNS, it is a big boot to fit in.
His successor SN Subrahmanyan, deputy managing director and president, will take charge as CEO on 1 July, Naik told Moneycontrol News in an exclusive interview.