L&T eyes opportunities in defence
By A Business Correspondent
"Defence will provide good opportunities for growth," said A.M. Naik, Managing Director and CEO of Larsen & Toubro Ltd, India's largest engineering and construction company in India. L&T is well positioned to take advantage of the country's recent decision of allowing private sector to participate in this field. Forays into atomic energy, nuclear and aerospace will enable the company to diversify its product portfolio and also reduce its dependence on other core sector. L&T has also built prototypes of missile launchers and other defence equipment.
Besides defence, L&T is also betting on emerging opportunities in infrastructure, refinery, oil and gas and housing. The company maintained a comfortable order book position of over Rs 10,922 crore at the end of March 2002 showing a marginal growth of 4 per cent.
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