L&T is preparing for the future as the conglomerate is ready to venture into new businesses.
Sight Set On IT
Engineering major Larsen & Toubro plans to invest more in technology services business to increase its share in the company’s portfolio, while looking to exit infrastructure assets.
While engineering and construction, and IT services will be key growth drivers going ahead, L&T is also planning to rollout two digital platforms in 2021 marking L&T’s foray into the business-to-consumer space.
Huge Ambitions For Coming Years.
The company's CEO, SN Subrahmanyan said that IT will be 25-30% of L&T's total business in the next 4-5 years and may grow to be 50% in the next five years. He also revealed the firm's work on two platforms - Edutech for engineering e-learning and Sufin that will help small and medium businesses in supply chain and finance management.
L&T hope to launch Eductech by March and Sufin by September. These are going to be new revenue streams as a part of its focus on services business.
L&T looks to make a very high margin revenue in 2021-22 and is already charting their course.