Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational

conglomerate company A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates ...

, with business interests in

engineering Engineering is the use of scientific method, scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad rang ...

construction Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...

manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a r ...

technology Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, ...

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

and

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

, headquartered in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

. The company is counted among world's top five construction companies. It was founded by Henning Holck-Larsen and Søren Kristian Toubro, who were two

Danish Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish a ...

engineers taking refuge in India. As of 2020, L&T Group comprises 118 subsidiaries, 6 associates, 25 joint-venture and 35 joint operations companies, operating across basic and heavy engineering, construction, realty, manufacturing of capital goods, information technology, and financial services.

History

Larsen & Toubro originated from a company founded in 1946 in Bombay by two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro. The company began as a representative of Danish manufacturers of dairy and allied equipment. However, with the start of the

Second World War World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

in 1939 and the resulting blockade of trade lines, the partners started a small workshop to undertake jobs and provide service facilities. Germany's invasion of Denmark in 1940 stopped supplies of Danish products. The war-time need to repair and refit and degauss ships offered L&T an opportunity, and led to the formation of a new company, Hilda Ltd, to handle these operations. L&T also started to repair and fabricate ships signalling the expansion of the company. The sudden

internment Internment is the imprisonment of people, commonly in large groups, without charges or intent to file charges. The term is especially used for the confinement "of enemy citizens in wartime or of terrorism suspects". Thus, while it can simpl ...

of German engineers in

British India The provinces of India, earlier presidencies of British India and still earlier, presidency towns, were the administrative divisions of British governance on the Indian subcontinent. Collectively, they have been called British India. In one ...

(due to suspicions caused by the

), who were to put up a

soda ash Sodium carbonate, , (also known as washing soda, soda ash and soda crystals) is the inorganic compound with the formula Na2CO3 and its various hydrates. All forms are white, odourless, water-soluble salts that yield moderately alkaline solutions ...

plant for the Tatas, gave L&T a chance to enter the field of installation. In 1946, ECC (Engineering Construction & Contracts) was incorporated by the partners; the company at this time was focused on construction projects (Presently, ECC is the construction division of L&T). L&T began several foreign collaborations. By 1947, the company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils,

biscuit A biscuit is a flour-based baked and shaped food product. In most countries biscuits are typically hard, flat, and unleavened. They are usually sweet and may be made with sugar, chocolate, icing, jam, ginger, or cinnamon. They can also be ...

s, soaps and glass. In 1947, the company signed an agreement with Caterpillar Tractor Company, USA, for marketing earth moving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipments were available at attractive prices, but the finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7 February 1946, Larsen & Toubro Private Limited was incorporated. After India's independence in 1947, the firm set up offices in Calcutta (now

Kolkata Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, comme ...

), Madras (now

Chennai Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of th ...

) and New Delhi. In 1948, 55 acres of undeveloped marsh and jungle was acquired in

Powai Powai (Pronunciation: əʋəiː is an upscale residential neighbourhood located in central Mumbai, Maharashtra, India. It is situated on the banks of Powai Lake, and is bound by the hills of Vikhroli Parksite to the south-east, Chandivali t ...

, Mumbai. In December 1950, L&T became a public company with a paid-up capital of . The sales turnover in that year was . In 1956, a major part of the company's Mumbai office moved to ICI House in

Ballard Estate The Ballard Estate business district is situated in the financial district of Fort. Located between Chhatrapati Shivaji Maharaj Terminus and Fort in South Mumbai, it hosts the offices of shipping companies and the headquarters of the Mumbai Por ...

, which would later be purchased by the company and renamed as L&T House, its present headquarters. During the 1960s, ventures included UTMAL (set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962) and TENGL (1963). In 1965, the firm had been chosen as a partner for building

nuclear reactor A nuclear reactor is a device used to initiate and control a fission nuclear chain reaction or nuclear fusion reactions. Nuclear reactors are used at nuclear power plants for electricity generation and in nuclear marine propulsion. Heat from nu ...

s. Dr. Homi Bhabha, then chairman of the Atomic Energy Commission (AEC) had in fact first approached L&T in the 1950s to fabricate critical components for atomic reactors. He convinced Holck-Larsen, a friend with whom he shared an interest in the arts that the company could do it, indeed must do it. L&T has since contributed significantly to the Indian nuclear programme ... Holck-Larsen was once asked by a junior engineer why L&T should get into building nuclear power plants when companies in the US and Germany were losing money on nuclear jobs. He replied: 'Young man, India has to build nuclear power plants. If not L&T, who will do it?' During the 1970s, L&T was contracted to work with

Indian Space Research Organisation The Indian Space Research Organisation (ISRO; ) is the national space agency of India, headquartered in Bengaluru. It operates under the Department of Space (DOS) which is directly overseen by the Prime Minister of India, while the Chairman ...

(ISRO). Its then chairman,

Vikram Sarabhai Vikram Ambalal Sarabhai (12 August 1919 – 30 December 1971) was an Indian physicist and astronomer who initiated space research and helped develop nuclear power in India. He was honoured with Padma Bhushan in 1966 and the Padma Vibhushan ...

, chose L&T as manufacturing partner. In 1972, when India launched its space programme, the firm was invited to participate. In 1976, ECC bid for a large airport project in

Abu Dhabi Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area. ...

. ECC's balance sheet, however, did not meet the bid's financial qualification requirement. So it was merged into L&T. ECC was eventually rechristened L&T Construction and now accounts for the largest slice of the group's annual revenue. In 1985, L&T entered into a partnership with

Defence Research and Development Organisation The Defence Research and Development Organisation (DRDO) (IAST: ''Raksā Anūsandhān Evam Vikās Sangaṭhan'') is the premier agency under the Department of Defence Research and Development in Ministry of Defence of the Government of India ...

(DRDO). L&T was not yet allowed by the government to manufacture defence equipment but was permitted to participate in design and development programmes with DRDO. After the design and development was done,the firm had to hand over all the drawings to DRDO. The government would then assign the production work to a public sector defence unit or ordnance factory for manufacture. After a series of successes and positive policy initiatives, the firm today makes a range of weapon and missile systems, command and control systems, engineering systems and submarines through DRDO.

Structure

Three key products/services which L&T is engaged in are: Construction and project-related activity; manufacturing and trading activity; and engineering services. L&T sold L&T Mutual Fund to

HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...

on November 26, 2022. L&T IDPL was sold to Edelweiss Alternatives for Rs. 6,000 crore. For administrative purposes, the conglomerate has been structured into sixteen subsidiary companies: * L & T Construction * L & T Hydrocarbon * L & T Power * L & T Mineral & Metals * L & T Heavy Engineering * L & T Defence * L & T Shipbuilding * L & T Construction & Mining Machinery * L & T Valves * L & T Technology Services * L & T Metro Rail * L & T Financial Services * L & T Realty * L & T SuFin * L & T EduTech * L & T Infotech

Major subsidiaries

Construction

L&T Construction is among the world's top 15 contractors. The business involves the construction of Buildings & Factories, Heavy Civil Infrastructure, Transportation Infrastructure, Power transmission & Distribution Infrastructure, Water & Effluent Treatment plants, Metallurgical & Material Handling Infrastructure and Smart World & Communication Infrastructure.

Buildings & Factories

L&T's buildings and factories (B&F) business undertakes construction projects such as commercial buildings and airports, residential buildings, and factories. Its track record includes, 400 high-rise towers, 11 airports, 53 IT parks, 17 automobile plants, 28 cement plants and 45 hospitals. L&T offered to oversee the design and construction of

Ram Mandir, Ayodhya Ram Mandir is a Hindu temple that is being built in Ayodhya, Uttar Pradesh, India, at the site of Ram Janmabhoomi, according to the ''Ramayana'' the birthplace of Rama, a principal deity of Hinduism. The temple construction is being supervised ...

free of cost and is the contractor of the project.

Heavy Civil Infrastructure

L&T's Heavy Civil Infrastructure (HCI) business undertakes projects in the areas of hydel power, tunnels, nuclear power, special bridges, metros, ports, harbours and defence installations. Its track record includes 231 km of metro rail corridors, 19.5 km of monorail corridors, 8,315 MW of hydropower projects and 8,080 MW of nuclear power projects. It has a subsidiary, L&T Geostructure LLP, and two JVs set up for metros in Doha and Saudi Arabia – ALYSI JV Gold Line Doha Metro and ArRiyadh New Mobility Consortium Riyadh Metro Orange Line.

Transportation Infrastructure

L&T's Transportation Infrastructure (TI) business undertakes projects such as roads, runways, elevated corridors, railways, etc. Its track record includes 13,500 lane km of highways, 7.49 million sq.m of runways and 3,260 tkm (track kilometre) of railway tracks. It also operates through subsidiaries such as L&T Oman LLC, L&T Infrastructure Engineering Ltd, and Hitech Rock Products & Aggregates Ltd.

Power Transmission and Distribution

L&T's Power Transmission and Distribution (PT&D) business undertakes projects involving the construction of substations, utility power distribution systems, transmission lines and optic fibre cabling projects. It executes projects in the renewables space, such as utility scale, microgrids and energy storage. It also operates in the Middle East, Africa and the

ASEAN ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, militar ...

region. Its track record includes 12,510 tkm of railway electrification, 585 substations, 29,380 MW of E-BoP, and 20,600 ckm (circuit kilometre) of transmission lines.

Water & Effluent Treatment

L&T's Water & Effluent Treatment (WET) business undertakes projects involving water supply and distribution, wastewater treatment, industrial and large water systems and smart water infrastructure. Its track record includes 40,000 km of water and wastewater networks and 3,400 MLD (millions of litres per day) of water and wastewater treatment plants.

Minerals & Metals Strategic Business Group

L&T also undertakes projects in the ferrous and non-ferrous sectors, i.e. iron and steel, aluminium, copper, zinc, lead and mineral

beneficiation In the mining industry or extractive metallurgy, beneficiation is any process that improves (benefits) the economic value of the ore by removing the gangue minerals, which results in a higher grade product (ore concentrate) and a waste stream (tail ...

plants. It offers EPC solutions in bulk material handling for the coal sector. Its Industrial Machinery and Cast Products business offers fabrication, machining, assembly and casting products for industries such as chemical, cement, steel, paper, power, mineral and railways.

Renewable Energy - L&T Solar

L&T develops concentrated solar power and solar photovoltaic technologies (grid-connected, rooftop and

microgrid A microgrid is a local electrical grid with defined electrical boundaries, acting as a single and controllable entity. It is able to operate in grid-connected and in island mode.

). It designs and builds solar power plants. L&T Solar, a subsidiary , undertakes

solar energy Solar energy is radiant light and heat from the Sun that is harnessed using a range of technologies such as solar power to generate electricity, solar thermal energy (including solar water heating), and solar architecture. It is an essenti ...

projects. In April 2012, L&T commissioned India's largest solar

photovoltaic Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and electrochemistry. The photovoltaic effect is commercially us ...

power plant (40 MWp) owned by

Reliance Power Reliance Power Limited (R-Power), formerly Reliance Energy Generation Limited (REGL) is a part of the Reliance Anil Dhirubhai Ambani Group. It was established to develop, construct, operate and maintain power projects in the Indian and internat ...

Jaisalmer Jaisalmer , nicknamed "The Golden city", is a city in the Indian state of Rajasthan, located west of the state capital Jaipur. The town stands on a ridge of yellowish sandstone and is crowned by the ancient Jaisalmer Fort. This fort contains a ...

, Rajasthan from concept to commissioning in 129 days. In 2011, L&T entered into a partnership with Sharp for EPC (engineering, procurement and construction) in megawatt solar project and plan to construct about 100 MW in the next 12 months in most of the metros. L&T Infra Finance, promoted by the parent L&T Ltd, is also active in the funding of solar projects in India. It is governed by Rebel Enterprises.

EPC Projects

L&T undertakes projects on an engineering, procurement and construction basis. Installation is often part of the package. This includes hydrocarbon engineering, power and power development.

Hydrocarbon Engineering

A wholly owned subsidiary, L&T Hydocarbon Engineering Limited, provides engineering, procurement, fabrication, construction, installation and project management services for onshore and offshore hydrocarbon projects worldwide. L&T formed a venture with SapuraCrest Petroleum Berhad, Malaysia for providing services to the

offshore construction Offshore construction is the installation of structures and facilities in a marine environment, usually for the production and transmission of electricity, oil, gas and other resources. It is also called maritime engineering. Construction a ...

industry. The joint venture owns and operates the LTS 3000, a

crane vessel A crane vessel, crane ship or floating crane is a ship with a crane specialized in lifting heavy loads. The largest crane vessels are used for offshore construction. Conventional monohulls are used, but the largest crane vessels are often catam ...

for heavy lifting and pipe-laying.

L&T Power

L&T Power has set up an organisation focused on coal-based, gas-based and nuclear power projects. L&T has formed two joint ventures with

Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment and electronics corporation headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group and its automobile division is the predecessor of Mitsubishi Mo ...

, Japan to manufacture super critical boilers and steam turbine generators. L&T-MHPS Turbine Generators Private Limited (formerly known as L&T-MHI Turbine Generators Private Limited) is a Joint Venture Company formed in 2007 in India between Larsen & Toubro Limited (L&T), India, Mitsubishi Hitachi Power Systems (MHPS) and Mitsubishi Electric Corporation (MELCO), headquartered in Tokyo, Japan for manufacture of super-critical Turbines & Generators. L&T-MHPS Boilers Private Limited (formerly known as L&T-MHI Boilers Private Limited) is a 51:49 Joint Venture Company formed on 16 April 2007 in India between Larsen & Toubro Limited (L&T), India and Mitsubishi Hitachi Power Systems (MHPS), Japan for engaging in the business of design, engineering, manufacturing, selling, maintenance and servicing of Supercritical Boilers and Pulverisers in India. The design wing of L&T ECC is EDRC (Engineering Design and Research Centre), which provides consultancy, design, and services. It carries out the basic and detailed design for both residential and commercial projects.

Manufacturing

This subdivision includes Defence equipment & systems, Heavy Engineering, Construction, Mining & Industrial Machinery, Industrial Valves and Electrical & Automation Systems.

Defence & Aerospace

L&T is one of India's largest developers and suppliers of defence equipment and systems, with over 30 years of experience in this space. It offers design-to-delivery solutions for land, sea and air defence. The company also offers specialised turnkey defence construction services, infrastructure and modernization of facilities. L&T's Aerospace business manufactures equipment and systems for the aviation and space industry, and has contributed to ISRO's

Chandrayaan-2 Chandrayaan-2 (, ; ) is the second lunar exploration mission developed by the Indian Space Research Organisation (ISRO), after Chandrayaan-1. It consists of a lunar orbiter, and also included the ''Vikram'' lander, and the ''Pragyan'' lunar ...

and

Mars Orbiter The following table is a list of Mars orbiters, consisting of space probes which were launched from Earth and are currently orbiting Mars. As of February 2021, there have been 18 spacecraft missions operating in Mars' orbit, 8 of which are curre ...

missions.

Heavy Engineering

L&T is among the five largest fabrication companies in the world. L&T has a shipyard capable of constructing vessels of up to 150 metre long and displacement of 20,000 tons at its heavy engineering complexes at

Hazira Hazira is a suburb and a transshipment port in the Surat City in the Gujarat state of India. It is the west most end of Surat. Hazira is one of the major ports of India and the most important element of Surat Metropolitan Region. The town is ...

and Ranoli,

Gujarat Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...

. The shipyard constructs specialised

heavy-lift ship A heavy-lift ship is a vessel designed to move very large loads that cannot be handled by normal ships. They are of two types: *''Semi-submersible'' ships that take on water ballast to allow the load—usually another vessel—to be floated o ...

CNG carrier Compressed natural gas (CNG) carrier ships are those designed for transportation of natural gas under high pressure. CNG carrier technology relies on high pressure, typically over 250 bar (2900 psi), to increase the density of the gas, but ...

chemical tanker A chemical tanker is a type of tanker ship designed to transport chemicals in bulk. As defined in MARPOL Annex II, chemical tanker means a ship constructed or adapted for carrying in bulk any liquid product listed in chapter 17 of the Internat ...

s, defence & para-military vessels,

submarine A submarine (or sub) is a watercraft capable of independent operation underwater. It differs from a submersible, which has more limited underwater capability. The term is also sometimes used historically or colloquially to refer to remotely op ...

s and other role-specific vessels.

L&T Realty

L&T Realty is the

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

arm of Larsen & Toubro. The company operates in Western and Southern India, constructing residential, corporate office, retail, leisure and entertainment properties with 35 million sq ft under various stages of development.

Machinery and industrial products

L&T manufactures, markets and provides service support for construction and mining machinery, including surface miners,

hydraulic excavator Excavators are heavy construction equipment consisting of a boom, dipper (or stick), bucket and cab on a rotating platform known as the "house". The house sits atop an undercarriage with tracks or wheels. They are a natural progression fro ...

s, aggregate crushers,

loader backhoe A backhoe loader, also called a loader backhoe, loader excavator, digger in layman's terms, or colloquially shortened to backhoe within the industry, is a heavy equipment vehicle that consists of a tractor-like unit fitted with a loader-style sh ...

s and vibratory

compactor A compactor is a machine or mechanism used to reduce the size of material such as waste material or bio mass through compaction. A trash compactor is often used by a home or business to reduce the volume of trash it produces. A baler-wrapper comp ...

s; supplies rubber processing machinery and manufactures and markets industrial valves and allied products along with application-engineered

welding Welding is a fabrication (metal), fabrication process that joins materials, usually metals or thermoplastics, by using high heat to melt the parts together and allowing them to cool, causing Fusion welding, fusion. Welding is distinct from lower ...

alloys.

L&T Metro Rail Hyderabad Limited

The company is a subsidiary of L&T Infrastructure Development Projects Ltd., an infrastructure development arm of Larsen & Toubro Ltd. Larsen and Toubro Limited was awarded the

Hyderabad Metro The Hyderabad Metro is a rapid transit system, serving the city of Hyderabad, Telangana, India. It is the second longest operational metro network in India after the Delhi Metro (285 stations) with 57 stations and the lines are arranged in a ...

Rail Project by Government of Telangana. L&T incorporated a Special Purpose Vehicle - L&T Metro Rail (Hyderabad) Limited ("The Company") to implement the Project on Design, Built, Finance Operate and Transfer (DBFOT) basis. The company has signed the Concession Agreement with Government of Andhra Pradesh on 4 September 2010 and completed the financial closure for the Project on 1 March 2011 in record six months. A consortium of 10 banks led by the State Bank of India has provided funding, the largest fund tie-up in India for a non-power infrastructure Public- Private Partnership (PPP) project. The company has commenced work on the Rs. 5,273 Crore

Mumbai Metro The Mumbai Metro is a rapid transit (MRT) system serving the city of Mumbai and the wider Mumbai Metropolitan Region in Maharashtra, India.Mumbai Metropolitan Region Development Authority is responsible authority for maintaining the metro system ...

Line 3 project. It consists of two packages: Package 1(

Cuffe Parade Cuffe Parade is a historic and significant business district of the city of Mumbai, India. It is home to a collection of commercial and office high-rises. It is bordered to the north by Nariman Point which, along with Cuffe Parade, forms the gre ...

-VidhanBhavan-

Churchgate Churchgate (Marathi pronunciation: ͡ʃəɾt͡ʃɡeːʈ is an area in South Mumbai. During the eighteenth and up to the mid-19th century, Mumbai was a walled city. The city walls had three gates, and Churchgate, named after St. Thomas Cathe ...

Hutatma Chowk Hutatma Chowk ("Martyrs' Square, (Officially, Hutatma Smarak Chowk) ("Martyrs Memorial Square"), is a square in South Mumbai, Maharashtra, India. The square hosts Flora Fountain and was known by that name until 1961 when it was officially rena ...

) and Package 7 (

Marol Marol is a locality in the suburb of the Andheri (East) in Mumbai, India. History The area has been inhabited for centuries, successively coming under both Portuguese and British rule. The village is filled with the Dawoodi Bohra community. Th ...

Naka-MIDC-

SEEPZ Santacruz Electronics Export Processing Zone (SEEPZ) is a Special Economic Zone in Mumbai, India. Situated in the Andheri East area, it is subjected to liberal economic laws as compared to the rest of India to promote rapid economic growth usin ...

). It is also engaged in major metro rail projects in the Middle-East.

Other subsidiaries and joint ventures

As of March 2018, L&T has 93 subsidiaries, 8 associate companies, 34 joint ventures, and 33 joint operation companies. *L&T Infrastructure Engineering Ltd. is one of India's engineering consulting firms offering technical services in transport infrastructure. The company has experience both in India and Globally, delivering single point 'Concept to Commissioning' consulting services for infrastructure projects like airports, roads, bridges, ports and maritime structure including environment, transport planning and other related services. Established in 1990 as L&T-Rambøll Consulting Engineers Limited, the company became the wholly owned subsidiary of L&T in September 2014. Today, L&T Infra Engineering is an independent corporate entity managed by a board of directors. The company enjoys complete freedom to set and pursue its goals, drawing, as and when required, on the technical and managerial resources of L&T Infrastructure Engineering Limited. *L&T – Construction Equipment Limited: having its registered office at

, India and focusing on

construction equipment Heavy equipment or heavy machinery refers to heavy-duty vehicles specially designed to execute construction tasks, most frequently involving earthwork operations or other large construction tasks. ''Heavy equipment'' usually comprises five e ...

and

mining equipment Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic via ...

, L&T-Komatsu Limited was a joint-venture of Larsen and Toubro, and Komatsu Asia Pacific Pte Limited, Singapore, a wholly owned subsidiary of

Komatsu Limited or () is a Japanese multinational corporation that manufactures construction, mining, forestry and military equipment, as well as diesel engines and industrial equipment like press machines, lasers and thermoelectric generators. Its headquarte ...

, Japan. Komatsu is the world's second largest manufacturer of hydraulic excavators and has manufacturing and marketing facilities. The plant was started in 1975 by L&T to manufacture hydraulic excavators for the first time in India. In 1998, it became a joint-venture. The Bengaluru works comprise machinery and hydraulics works, with a manufacturing facility for design, manufacture, and servicing of earth moving equipment. The hydraulics works have a precision machine shop, manufacturing high-pressure hydraulic components and systems, and designing, developing, manufacturing and servicing hydraulic pumps, motors, cylinders, turning joints, hose assemblies, valve blocks, hydraulic systems, and power drives as well as allied gearboxes. In April 2013, L&T bought the 50% stake held by Komatsu Asia & Pacific. The company's name was changed to L&T Construction Equipment Limited. * L&T has a joint venture with Qatari company Al Balagh group as the main contractors for the Al Rayyan stadium, the

2022 FIFA World Cup The 2022 FIFA World Cup is an international association football, football tournament contested by the men's national teams of FIFA's member associations. The 22nd FIFA World Cup is taking place in Qatar from 20 November to 18 December 2022 ...

stadium which will host matches up to the quarter-final. * L&T Finance: Larsen & Toubro

is a subsidiary which was incorporated as a

non-banking financial company A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...

in November 1994. The subsidiary has financial products and services for corporate, construction equipments. This became a division in 2011 after the company declared its restructuring. A partnership between L&T Finance and

Sonalika Group The Sonalika Group is an Indian multinational company headquartered in Hoshiarpur, Punjab and is active mainly in the automobile sector. It is best known for Sonalika Tractors. The Sonalika Group is headed by Lakshman Das Mittal. * Internati ...

farm equipment maker International Tractors Ltd in April 2014 provided credit and financing to customers of Sonalika Group in India. * L&T Mutual Fund is the

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...

company of the L&T Group. Its average assets under management (AuM) as of May 2019 is 73,936.68 crore. * Larsen & Toubro Infrastructure Finance: this wholly owned subsidiary commenced business in January 2007 upon obtaining

Non-Banking Financial Company A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...

(NBFC) license from the

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

(RBI). As of 31 March 2008, L&T Infrastructure Finance had approved financing of more than US$1 billion to select projects in the infrastructure sector. It received the status of "Infrastructure Finance Company" from the RBI within the overall classification of "Non-Banking Financial Company". *L&T Valves markets valves manufactured by L&T's Valve Manufacturing Unit and L&T's joint-venture Larsen & Toubro Valves Manufacturing Unit, Coimbatore as well as allied products other manufacturers. The group's manufacturing unit in Coimbatore manufactures industrial valves for the power industry, along with

flow control valve A flow control valve regulates the flow or pressure of a fluid. Control valves normally respond to signals generated by independent devices such as flow meters or temperature gauges. Operation Control valves are normally fitted with actuators a ...

s for the oil and gas, refining, petrochemical, chemical and power industries, industrial valves and customised products for

refinery A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Types of refineries Different types of refineries ...

LNG Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volu ...

, GTL,

petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sou ...

and power projects. L&T Valves Business Group has offices in the US, South Africa, Dubai, Abu Dhabi, India and China, and alliances with valve distributors and agents in these countries. *L&T-MHPS Boilers is a joint venture between L&T and Mitsubishi Hitachi Power Systems. The group specialises in engineering, manufacturing, erecting and commissioning of

supercritical steam generator A supercritical steam generator is a type of boiler that operates at supercritical pressure, frequently used in the production of electric power. In contrast to a subcritical boiler in which bubbles can form, a supercritical steam generator op ...

s used in

power plant A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many pow ...

s. It is mainly headquartered in

Faridabad Faridabad is the most populous city in the Indian state of Haryana and a part of Delhi National Capital Region. It is one of the major satellite cities around Delhi and is located 284 kilometres south of the state capital Chandigarh. The ri ...

with a manufacturing facility in Hazira and an engineering centre in Chennai and Faridabad. Currently, the group is engaged in projects for JVPL, MAHAGENCO, Nabha Power & RRVUNL. *L&T MHPS Turbine Generators Pvt Ltd: in 2007, Larsen & Toubro and

set up a joint-venture manufacturing agreement to supply a supercritical steam turbine and generator facility in Hazira. This followed a technology licensing and technical assistance agreement for the manufacture of supercritical turbines and generators between L&T, MHI, and

Mitsubishi Electric , established on 15 January 1921, is a Japanese multinational electronics and electrical equipment manufacturing company headquartered in Tokyo, Japan. It is one of the core companies of Mitsubishi. The products from MELCO include elevators an ...

Corporation (MELCO), headquartered in Tokyo, Japan. In February 2014, MHI and Hitachi Ltd integrated the business centred on thermal power generation systems (gas turbines, steam turbines, coal gasification generating equipment, boilers, thermal power control systems, generators, fuel cells, environmental equipment and so on) and started a new company as Mitsubishi Hitachi Power Systems (MHPS) Ltd, headquartered in

Yokohama is the second-largest city in Japan by population and the most populous municipality of Japan. It is the capital city and the most populous city in Kanagawa Prefecture, with a 2020 population of 3.8 million. It lies on Tokyo Bay, south of To ...

, Japan. * L&T Howden Pvt Ltd is a joint venture between L&T and Howden to manufacture

axial fan A fan is a powered machine used to create a flow of air. A fan consists of a rotating arrangement of vanes or blades, generally made of wood, plastic, or metal, which act on the air. The rotating assembly of blades and hub is known as an '' ...

s and air pre-heaters in the range of 120-1200 MW to

thermal power station A thermal power station is a type of power station in which heat energy is converted to electrical energy. In a steam-generating cycle heat is used to boil water in a large pressure vessel to produce high-pressure steam, which drives a stea ...

s. L&T Howden is an

ISO 9001 The ISO 9000 family is a set of five quality management systems (QMS) standards that help organizations ensure they meet customer and other stakeholder needs within statutory and regulatory requirements related to a product or service. ISO 90 ...

and ISO 5001 certified organisation, with a plant located in Surat Hazira and a marketing office in Faridabad. * L&T Special Steels and Heavy Forgings Pvt Ltd. is a joint venture between L&T and

NPCIL The Nuclear Power Corporation of India Limited (NPCIL) is an Indian public sector undertaking based in Mumbai, Maharashtra. It is wholly owned by the Government of India and is responsible for the generation of electricity from nuclear power. ...

, headquartered at Hazira. It is the largest integrated steel plant and heavy forging unit in India, capable of producing forgings weighing 120 MT each. LTSSHF currently is engaged in projects from the nuclear, hydrocarbon, power and oil and gas sectors. * L&T-Sargent & Lundy Limited (L&T-S&L), established in 1995, is an engineering and consultancy firm in the power sector, formed by L&T and Sargent & Lundy L.L.C. - USA, a global consulting firm in the power industry since 1891 * In 2015, the company began developing commercial, retail and office space around the

Hyderabad Metro Rail The Hyderabad Metro is a rapid transit system, serving the city of Hyderabad, Telangana, India. It is the second longest operational metro network in India after the Delhi Metro (285 stations) with 57 stations and the lines are arranged in a ...

project. * In June 2019, the company acquired a controlling stake in IT services company Mindtree Ltd

Technology Cluster

L&T Technology Services

L&T Technology Services, a subsidiary of Larsen & Toubro, is an engineering services company that operates in the global Engineering, Research and Development ("ER&D") space. L&T Technology Services offers design, development and testing services for the industrial products, medical devices, transportation,

aerospace Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and astrona ...

, telecom and process industries. The company serves customers across the product engineering life cycle from product conceptualization to implementation. Services include consulting, design, development, testing, maintenance, and to-market integration services. L&T Technology hits the Indian Capital Markets with its IPO offering 10.4 million shares at a price band of Rs.850 to Rs.860 L&T Technology Services, a subsidiary of Larsen & Toubro, is a global engineering services company headquartered out of Vadodara, Gujarat, India. It offers design, development, and testing solutions across the product and plant engineering value chain, for various domains including Industrial Products, Transportation, Aerospace, Telecom & Hi-tech, and the Process Industries. As of 2016, L&T Technology Services employs over 10,000 workers and has operations in 35 locations around the world. Its clientele includes a large number of Fortune 500 companies globally.

Larsen & Toubro Infotech (LTI)

Larsen & Toubro Infotech Limited, a listed subsidiary, owned 74% by L&T, offers

, software and services with a focus on manufacturing,

BFSI Banking, financial services and insurance (BFSI) is the industry's umbrella term for companies that provide a range of such financial products or services. This includes universal banks that provide a range of financial services or companies that ...

and communications and

embedded system An embedded system is a computer system—a combination of a computer processor, computer memory, and input/output peripheral devices—that has a dedicated function within a larger mechanical or electronic system. It is ''embedded'' as ...

s. It also provides services for embedded intelligence and engineering.

L&T Smart World & Communication

L&T's Smart World & Communication business vertical is designed to provide end-to-end solutions as a master systems integrator in security solutions for critical infrastructure: ports, airports, metros, IT Parks and public buildings. It has built one of the largest surveillance projects comprising 6000 cameras across 1500 locations in Mumbai, and city surveillance and Intelligent Traffic Management Systems in Ahmedabad, Gandhinagar and Vadodara. In Jaipur, India's first smart city, L&T provided smart solutions like wi-fi hotspots, citizen information systems and surveillance cameras.

L&T-NxT

In 2019 L&T announced a new initiative, L&T-Nxt, to focus on new-age technologies like artificial intelligence and cybersecurity. L&T-Nxt will focus on the areas of artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity and leverage the experience that L&T has garnered over the decades. L&T-NxT is based on the strength and experience of L&T.

Mindtree

In 2019 L&T gained a controlling stake in Mindtree, a global technology consulting and services company with a share of 60 per cent. The takeover of Mindtree was, at the time, referred to as the first-ever hostile takeover in the

Indian IT industry The information technology industry in India comprises information technology services, consulting, and outsourcing. The share of the IT-BPM sector in the GDP of India is 7.4% in FY 2022. The IT and BPM industries' revenue is estimated at $2 ...

International Markets

L&T sharpened its focus on international markets, especially the Gulf, from 2010 onwards. Since then, from under one-tenth, international business now contributes around one-third to both order inflow and revenue. L&T has set up a full range of operations in the Middle East catering to the Gulf and North Africa. Many of the projects are being undertaken through joint ventures with leading companies based in the Gulf. L&T provides turnkey solutions across key regions: the Middle East (UAE, Qatar, Kuwait, Oman, Saudi Arabia and Bahrain), Africa (Algeria, Kenya, Ethiopia and Malawi) and ASEAN (Malaysia and Thailand). The range of work is wide and varied: high-voltage substations, power transmission lines, extra-high-voltage cabling and instrumentation and control systems.

Divestments

L&T has across the decades exited from several businesses. These include:

Cement

L&T sold its 16.5 million tonne/per year capacity cement division to

UltraTech Cement UltraTech Cement Limited is an Indian cement company based in Mumbai, and a part of Aditya Birla Group. UltraTech is the largest manufacturer of grey cement, ready-mix concrete Ready-mix concrete (RMC) is concrete that is manufactured i ...

and also divested its 8.5% stake in A V Birla group company

Grasim Industries Grasim Industries Limited is an Indian manufacturing company based in Mumbai. Since its inception in 1947 as a textile manufacturer, Grasim has diversified into textile raw materials like viscose staple fiber (VSF) and viscose filament yarn, c ...

in 2004.

L&T-John Deere

In 1992, L&T established a 50-50 joint venture with

John Deere Deere & Company, doing business as John Deere (), is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, ...

to manufacture tractors in India, called L&T - John Deere. L&T sold their interest to John Deere in 2005.

L&T Case

In 1992, L&T established L&T-Case Construction with CNH Global as a 50-50 joint venture to build backhoes. In 2011, L&T sold its share to CNH, and the company was renamed Case New Holland Construction Equipment India.

L&T Medical Equipment and Systems

's medical equipment division, known as L&T Medical Equipment & Systems, was established in 1987. In November 2012, L&T sold it to Skanray Technologies Pvt Ltd. Currently, L&T Mysore division manufactures Single-phase and Three-phase static solid-state Electricity Meters to various utilities in India. The range of meters varies from residential, industrial, prepayment and smart meters. there are both whole current and CT operated meters. It also houses a relay servicing unit.

EWAC Alloys Limited

EWAC Alloys Limited was a wholly owned subsidiary of L&T. The company was engaged in design & development, manufacture and supply of special welding electrodes, gas

brazing Brazing is a metal-joining process in which two or more metal items are joined together by melting and flowing a filler metal into the joint, with the filler metal having a lower melting point than the adjoining metal. Brazing differs from we ...

rods and fluxes,

welding torch Principle of burn cutting Oxy-fuel welding (commonly called oxyacetylene welding, oxy welding, or gas welding in the United States) and oxy-fuel cutting are processes that use fuel gases (or liquid fuels such as gasoline or petrol, diesel, ...

es and accessories, atomised metal powder alloys, flux cored continuous wires & wire feeders, polymer compounds & wear-resistant plates. Prof Wasserman, founder of Eutectic Castolin, and Henning Hock Larsen, founder of L&T, founded the Eutectic Division in India in the year 1962. Eutectic Castolin was later merged into the

Messer Group The Messer Group GmbH is a supplier of industrial gases. Business is focused on 30 European and Asian countries. The company headquarters are located in Bad Soden (Germany). Messer is selling gases for industrial use like oxygen, nitrogen, ar ...

of companies, Germany and referred as Messer Eutectic Castolin (MEC). In 2010, L&T, bought the entire stake from Messer to become the wholly owned subsidiary of it. The current headquarters is in Ankleshwar, Gujarat (India), and the products are sold under the name EWAC. L&T sold its entire stake in unlisted subsidiary EWAC Alloys to UK-registered ESAB Holdings for a total consideration of Rs 522 crore. The share purchase agreement has been executed on 11 October 2017. The acquirer ESAB offers products for welding and cutting process. In 2012, ESAB was acquired by Colfax Corp., a diversified industrial manufacturing company based in the US.

L&T Kobelco Machinery Private Limited

This was a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

of L&T and Kobe Steel of Japan, to manufacture internal mixers and twin screw roller-head extruder's for the tyre industry. L&T sold its entire 51% stake in L&T Kobelco Machinery Private to its joint venture partner in the company, Kobe Steel of Japan, for Rs 43.5 crore.

L&T Electrical and Automation Ltd.

L&T was an international manufacturer of electrical and electronic products and systems. The company manufactured custom-engineered switchboards for industrial sectors like power, refineries, petrochemicals and cement. In the electronic segment, L&T offered a range of

metre The metre (British spelling) or meter (American spelling; see spelling differences) (from the French unit , from the Greek noun , "measure"), symbol m, is the primary unit of length in the International System of Units (SI), though its pref ...

s and provides control automation systems for industries. In May 2018, the firm signed a definitive agreement with

Schneider Electric Schneider Electric SE is a French multinational company that specializes in digital automation and energy management. It addresses homes, buildings, data centers, infrastructure and industries, by combining energy technologies, real-time automation ...

for the strategic divestment of its electrical and automation (E&A) business in an all-cash deal of ₹14,000 crore. The deal was completed on 31 August 2020 after receiving the requisite regulatory approvals. L&T has said that its exit from the electrical and automation business is a part of its strategic portfolio review process.

Listing and shareholding

The

equity shares Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...

of the company are listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in ...

(BSE) and the

National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...

(NSE). The company's shares constitute a part of the

BSE SENSEX The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The 30 ...

of the

BSE BSE may refer to: Medicine * Bovine spongiform encephalopathy, also known as mad cow disease, a neurodegenerative disease of cattle * Breast self-examination Stock exchanges * Bahrain Stock Exchange, Bahrain * Baku Stock Exchange, Azerbaijan * B ...

as well as the

NIFTY 50 The NIFTY 50 is a benchmark Indian stock market index In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels ...

index of the NSE. Its

global depository receipt A global depository receipt (GDR and sometimes spelled ''depositary'') is a general name for a depositary receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local exchan ...

s (GDR) are listed on the

Luxembourg Stock Exchange The Luxembourg Stock Exchange, LuxSE (french: Bourse de Luxembourg) is based in Luxembourg City at 35A boulevard Joseph II. The chairman of the board is Alain Kinsch and the chief executive officer is Julie Becker. The exchange has pre-opening ...

and

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

Shareholders

Shareholders as of 31 March 2020

Employees

As on 31 January 2022, the company had 55,332 permanent employees, out of which 2,822 were women (5.29%) and 90 were employees with disabilities (0.1012%). At the same period company had 293,662 employees on contract basis.

Awards and recognition

* L&T ranked 2nd in Top 25 EPC Contractors 2022 in the Middle East List by Oil & Gas Middle East * L&T ranked 4th in the 2021 LinkedIn Top Companies list, India *In 2021, L&T won the Innovation in Onboarding at the OLX People HR Excellence awards by The Economic Times HRWorld *L&T Hydrocarbon won the Federation of Indian Petroleum Industry (FIPI) ‘Engineering Procurement Construction (EPC) - Company of the Year’ Award for 2020 *In 1997, the Bengaluru Works division was awarded the "Best of all" Rajiv Gandhi National Quality Award * In 2013, L&T Power received 'Golden Peacock National Quality Award – 2012' at the 23rd World Congress on 'Leadership & Quality of Governance'. * L&T ranked at No.22 among World’s Best Employers and No.1 in India by

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

for 2018.

References

External links

* {{DEFAULTSORT:Larsen and Toubro BSE SENSEX NIFTY 50 Companies based in Mumbai Construction and civil engineering companies of India Engineering companies of India Aerospace companies of India Gas turbine manufacturers Conglomerate companies established in 1938 Indian brands Construction and civil engineering companies established in 1938 Construction equipment manufacturers of India Indian companies established in 1938 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Defence companies of India Indian companies established in 1946