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Larsen & Toubro Limited Related news

Hyderabad: L&T, Telangana stare at fresh tussle over execution of metro rail project

Hyderabad: L&T, Telangana stare at fresh tussle over execution of metro rail project

HYDERABAD: Engineering giant Larsen and Toubro and the Telangana government could be headed for another faceoff over execution of the Rs 16,375-crore metro rail project in Hyderabad.

L&T Metro Rail, which has suffered time and cost overruns, both before and after the formation of Telangana, has a July 2017 deadline for completing the 72-km metro rail project which will crisscross Hyderabad in three corridors.

L&T Infotech’s valuation gets a reality check

L&T Infotech’s valuation gets a reality check

In an unusual turn of events, L&T Infotech Ltd on Monday withdrew the draft red herring prospectus (DRHP) it filed with the Securities and Exchange Board of India, and filed it afresh on Tuesday. According to investment bankers, this was necessary because the estimated size of the issue has been cut by more than 10%. As it turns out, the estimated size of the issue has been cut by almost 30% to around $200 million, according to news reports.

L&T withdraws plans for listing L&T Infotech

L&T withdraws plans for listing L&T Infotech

Larsen & Toubro says it is not proceeding with the earlier plan for a Rs 2,000-crore Initial Public Offering (IPO) of shares in its L&T Infotech. The draft prospectus was withdrawn with effect from Monday.

When asked, Deepak Morada, vice-president of corporate brand management and communication, told this newspaper: “We have withdrawn the IPO because of market conditions. And, we want to relook at our pricing. The IT sector undergoes changes on a quarterly basis and it is only fair to investors, in any issue, that they take a call on the financial performance of the most recent quarter.”

L&T sells entire stake in L&T Infocity to Ace Urban Developers

L&T sells entire stake in L&T Infocity to Ace Urban Developers

Infrastructure giant Larsen & Toubro (L&T) on Thursday said it has sold its entire 89% stake in L&T Infocity Ltd (LTIL) to Hyderabad-based Ace Urban Developers Ltd for Rs 191 crore.

L&T Infocity Ltd is an special purpose vehicle (SPV) formed by the infrastructure major in partnership with Andhra Pradesh Infrastructure Investment Corporation (APIIC) to develop IT infrastructure in the state.

L&T Infra Debt Fund to raise up to Rs 2,750 crore via bonds

L&T Infra Debt Fund to raise up to Rs 2,750 crore via bonds

With more leeway to fund projects and tax exemptions, L&T Infra Debt Fund (IDF), L&T Finance group's infrastructure refinancing arm, plans to raise up to Rs 2,750 crore through debentures.

The money raised via non-convertible debentures (NCDs) will be used to fund infra projects, including those in renewable energy sector (wind and solar). L&T Financial services group will also inject more equity in the subsidiary to support expanding asset base. L&T IDF's net worth was Rs 615 crore (including additional equity infusion in December 2015) and debt of Rs 775 crore.

Larsen & Toubro bags orders worth Rs 1,672 crore

Larsen & Toubro bags orders worth Rs 1,672 crore

Infrastructure firm Larsen & Toubro (L&T) said Tuesday its construction arm has bagged orders worth Rs 1,672 crore across various business verticals.

The company's construction arm "has won orders worth Rs 1,672 crore", it said in a BSE filing.

Larsen & Toubro gains on winning orders worth Rs 2,213 crore

Larsen & Toubro gains on winning orders worth Rs 2,213 crore

Larsen & Toubro (L&T) is trading higher by 3% to Rs 1,115 on the BSE after the company announced that it has won orders worth Rs 2,213 crore across its various businesses.

The transportation infrastructure business has bagged new orders worth Rs 1,078 crore from the National Highways Authority of India (NHAI) for the construction of the Kerala/TamilNadu –Villikuri -Kanyakumari sections of NH-47 and NH 47B under NHDP Phase-3 in the state of Tamil Nadu on EPC mode. The projects are scheduled to be completed in 24 months.

L&T to sell 49% in insurance arm

L&T to sell 49% in insurance arm

Infrastructure and engineering major Larsen & Toubro (L&T) is planning to sell 49 per cent stake in its general insurance company to a foreign entity. The deal is expected to be finalised in the next three to six months.

L&T General Insurance Company is a wholly owned subsidiary of L&T and among the few in the sector without a foreign partner. The Insurance Laws (Amendment) Act of 2015 has allowed foreign direct investment (FDI) up to 49 per cent in insurance companies. Earlier, only 26 per cent FDI was allowed. "The stake sale is primarily targeted at monetisation.

L&T Hydrocarbon joins hand with McDermott for deepwater projects in India

L&T Hydrocarbon joins hand with McDermott for deepwater projects in India

L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed a long-term agreement with McDermott International - the US-based engineering, procurement, construction (EPC) and installation company - focused on subsea projects in deepwater segment emerging on the east coast of India.

Under the agreement, L&T Hydrocarbon and McDermott will develop a cost-effective approach which will utilise LTHE’s strategically located Kattupalli facility near Chennai for fabrication and setting up of a local spool base in India.

L&T electrical and automation eyes local market to drive strong business growth

L&T electrical and automation eyes local market to drive strong business growth

L&T electrical and Automation, the $1 billion unit of Larson and Toubro, expects infrastructure projects by the government and investment in upgrading existing factories by corporates to drive business faster over the next few years. The firm says that business from upgrading switches and drives contributes to 13% of its revenue, up from 5% a few years ago.

"When somebody is not setting up new factories, they want to extend the life of their existing installations," said PK Bajaj, executive vice-president, L&T (Electrical & Automation) in an interview. "We hear words like upgrades, add one line, debottle-necking lot more than new capacities. These are efforts to release those capacity which otherwise they are not bothered," he added.

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