Larsen & Toubro Ltd, a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, secured fresh orders worth Rs.34,580 crore during the quarter ended December 31, 2014, registering an increase of 19 per cent over the corresponding quarter of the previous year. The international order inflow during the quarter at Rs.6,300 crore constituted 18 per cent of the total order inflow. Major orders during the quarter, at Rs.24,032 crore, were secured by the Infrastructure segment.
On a cumulative basis, the order inflow for the nine-month period ended December 31, 2014, stood at Rs.107,785 crore, recording a y-o-y growth of 16 per cent. The order inflow during the nine-month period is predominantly driven by domestic orders bagged by Infrastructure and Power segments. The international order inflow constituted 26 per cent of the total order inflow for the nine months.
The consolidated order book of the group stood at Rs.225,788 crore as on December 31, 2014, higher by 17 per cent on a y-o-y basis. International order book constituted 25 per cent of the total order book.
On the outlook, L&T observed, “Indicators are towards softening inflation and stable commodity prices. Recent measures taken by RBI are expected to ease liquidity position. The business sentiment has turned positive on the back of regulatory announcements and the Government’s resolve to create a business friendly environment in India. Once achieved, it would further strengthen the investor confidence and provide fillip to domestic manufacturing and infrastructure development. Early translation of various initiatives into sustainable and well-administered policies and the ground level implementation of these would hold the key for broadbased economic development.