Business Daily from THE HINDU group of publications
Tuesday, Jul 10, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 10, 2007 ePaper |
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Corporate
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Outlook
Our Bureau Hyderabad, July 9Larsen & Toubro (L&T), the engineering and infrastructure behemoth, has set its eyes on achieving a turnover of Rs 35,000 crore in the next three years. “We closed 2006-07 at Rs 21,000 crore. We are targeting Rs 25,000 crore for the current financial year. “We hope to reach Rs 30-35,000 crore by 2010,” Mr A.M. Naik, Chairman and Managing Director of L&T, said. According to him, the group would go in for a public issue for its infrastructure, infotech and financial segments in the next few years. About the plan to raise a $1-billion fund for infrastructure, he said the company would do that in phases. “We are not going to raise it at one go. “We will do it in phases, with $200-$300 million in the next few years,” Mr Naik said. Fundraising
Addressing a press conference here on Friday, he said the fundraising would depend on the requirements. The infrastructure major is expected to begin the fundraising in the next two months. The 78-year-old company, which runs 62 businesses (small and big), is also in the process of restructuring the complex businesses it manages. The restructuring, which would see formation of divisions into 12 verticals, was expected to be completed during 2008-09. Only those businesses that had the potential of generating revenues in excess of $1 billion would be made into separate units.
Related Stories: More Stories on : Outlook | Engineering | Larsen & Toubro Ltd
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