Larsen & Toubro

2022-01-16T14:46:33Z

2409:4064:E80:F024:F09A:F8B8:EBD4:1B7B: /* Company structure */

{{short description|Indian Multinational Conglomerate}}
{{Use Indian English|date=January 2017}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = Larsen & Toubro Limited
| logo = File:Larsen&Toubro logo.svg
| logo_size =
| type = [[Public Company|Public]]
| traded_as = {{ubl|{{NSE|LT}}|{{BSE|500510}}|[[BSE SENSEX|BSE SENSEX Constituent]]|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| ISIN = INE018A01030
| industry = [[Conglomerate (company)|Conglomerate]]
| founded = {{Start date and age|7 February 1938}} <br> [[Bombay]], [[Bombay State]], [[British India]], (present-day [[Mumbai]], [[Maharashtra]], [[India]])
| founders = {{Unbulleted list
|[[Henning Holck-Larsen]]|[[Søren Kristian Toubro]]}}
| hq_location = L&T House, [[Ballard Estate]]
| hq_location_city = [[Mumbai]], [[Maharashtra]]
| hq_location_country = [[India]]<ref>{{cite web|url=http://www.larsentoubro.com/corporate/contact-us/indian-offices/|title=Contact L&T|website=www.larsentoubro.com|access-date=11 February 2017|archive-url=https://web.archive.org/web/20170212093205/http://www.larsentoubro.com/corporate/contact-us/indian-offices/|archive-date=12 February 2017|url-status=live}}</ref>
| num_locations =
| num_locations_year = 
| area_served = Worldwide
| key_people = {{ubl|[[Anil Manibhai Naik]] <br> {{small|([[Chairman]])}}|[[S N SUBRAHMANYAN|S N Subrahmanyan]] <br> {{small|([[Managing Director|MD]] & [[Chief Executive Officer|CEO]])}}|R. Shankar Raman <br> {{small|([[Chief Financial Officer|CFO]])}}}}
| products = {{hlist
| [[Heavy equipment]]
| [[Electrical equipment]]
}}
| brands =
| production =
| production_year = 
| services = {{hlist
| [[Electric power industry|Power generation]]
| [[Infrastructure]]
| [[Construction]]
| [[Heavy industry]]
| [[IT Services]]
| [[Rapid transit]]
| [[Financial service|Financial Services]]
| [[Shipbuilding]]
| [[Real estate]]
| [[Defence (military)|Defence]]}}
| revenue = {{Increase}} {{INRConvert|147813.26|c}} <ref name=pnl>{{Cite web|title=Larsen & Toubro Consolidated Profit & Loss account, Larsen & Toubro Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/larsen&toubro/consolidated-profit-lossVI/lt|access-date=14 July 2020|website=www.moneycontrol.com|language=en}}</ref>
| revenue_year = 2020
| operating_income = {{Decrease}} {{INRConvert|13430.95|c}} <ref name=pnl/>
| income_year = 2020
| net_income = {{Increase}} {{INRConvert|9549.03|c}} <ref name=pnl/>
| net_income_year = 2020
| assets = {{Increase}} {{INRConvert|308140.13|c}} <ref name=blsh>{{Cite web|title=Larsen & Toubro Consolidated Balance Sheet, Larsen & Toubro Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/larsen&toubro/consolidated-balance-sheetVI/lt|access-date=14 July 2020|website=www.moneycontrol.com|language=en}}</ref>
| assets_year = 2020
| equity = {{Increase}} {{INRConvert|66723.22|c}} <ref name=blsh/>
| equity_year = 2020
| owner =
| num_employees = 337,994 <ref name="fy2019">{{cite web |url=http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf |title=Larsen & Toubro Annual Report Fiscal Year 2019 Results |publisher=Larsen & Toubro |website=larsentoubro.com |date=4 February 2019 |access-date=4 February 2019 |archive-date=30 September 2020 |archive-url=https://web.archive.org/web/20200930132047/http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf |url-status=dead }}</ref>
| num_employees_year = 2019
| parent =
| divisions = {{plainlist|
*[[L&T Realty|Real Estate (Realty)]]
*[[Technology]]
*[[Engineering]]
*[[Construction]]
*[[Manufacturing]]}}
| subsid = {{plainlist|
* [[Larsen & Toubro Infotech|L&T Infotech]]
* [[L&T Technology Services]]
* L&T Infrastructure Engineering
* L&T Hydrocarbon Engineering
* [[L&T Mutual Fund]]
* L&T NxT
* [[Mindtree]]
* L&T Finance Holdings
* L&T Special Steels and Heavy Forgings
* L&T Shipbuilding}}
| module = 
| website = {{URL|http://www.larsentoubro.com/}}
| footnotes =
}}

'''Larsen & Toubro Ltd''', commonly known as '''L&T,''' is an [[India|Indian multinational]] [[Conglomerate (company)|conglomerate]], with business interests in [[engineering]], [[construction]], [[manufacturing]], [[technology]] and [[financial services]], headquartered in [[Mumbai]].<ref>{{cite web|url=http://www.bseindia.com/xml-data/corpfiling/AttachHis/Larsen_&_Toubro_Ltd_171109.pdf|title=Larsen & Toubro Ltd 171109.pdf|access-date=15 November 2019|archive-url=https://web.archive.org/web/20150923224155/http://www.bseindia.com/xml-data/corpfiling/AttachHis/Larsen_%26_Toubro_Ltd_171109.pdf|archive-date=23 September 2015|url-status=dead}}</ref> The company is counted among world's top five construction companies. It was founded by two Danish engineers taking refuge in India.<ref>{{cite journal|last1=Shah|first1=Shashank|date=18 February 2014|title=Stakeholders Management in the British Construction Industry: Insights into the Approach at Larsen & Toubro's Construction Division|url=http://scholar.valpo.edu/cgi/viewcontent.cgi?article=1095&context=jvbl|journal=Journal of Values Based Leadership|volume=7|issue=1|access-date=11 June 2014|archive-url=https://web.archive.org/web/20140523040114/http://scholar.valpo.edu/cgi/viewcontent.cgi?article=1095&context=jvbl|archive-date=23 May 2014|url-status=live}}</ref> 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.<ref>{{cite web|last=A|title=Larsen & Toubro Annual Report 2018-19|url=http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf|access-date=23 July 2019|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930132047/http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf|url-status=dead}}</ref>

== Company structure ==
Three key products/services which L&T is engaged in are: Construction and project-related activity; manufacturing and trading activity; and engineering services.<ref name=":0">{{Cite web|title=L&T Annual Report 2018-19|url=http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf|website=L&T India - Investor Home|access-date=23 July 2019|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930132047/http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf|url-status=dead}}</ref> For administrative purposes, the firm has been structured into five broad categories:
* Construction – this covers buildings & factories, heavy civil infrastructure, transportation infrastructure, power transmission & distribution, water & effluent treatment, metallurgical & material handling and smart world & communication;
* EPC Projects – this includes hydrocarbon engineering, power and power developments;

* Manufacturing – this includes defence equipment & systems, heavy engineering, construction, mining & industrial machinery, industrial valves and electrical & automation systems;
* Services: realty, information technology, technology services and financial services;
* Others: Hyderabad Metro, Infrastructure Development Projects and other corporate functions.<ref name=":0" />

==History==
Larsen & Toubro originated from a company founded in 1938 in Mumbai 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]] in 1939 and the resulting blockade of trade lines, the partners started a small workshop to undertake jobs and provide service facilities. [[German invasion of Denmark (1940)|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]] of German engineers in [[British India]] (due to suspicions caused by the [[Second World War]]), who were to put up a [[soda ash]] plant for the [[Tata Group|Tata]]'s, gave L&T a chance to enter the field of installation.<ref name="larsentoubro.com">{{cite web |url= http://www.larsentoubro.com/lntcorporate/LnT_Offerings/Service_Template1.aspx?res=P_ENC_COFF_SBU_SERV&srid=125&sbu=31 |title= Larsen & Toubro – Hydrocarbon Upstream |access-date= 21 June 2012 |archive-url= https://web.archive.org/web/20130507204336/http://www.larsentoubro.com/lntcorporate/LnT_Offerings/Service_Template1.aspx?res=P_ENC_COFF_SBU_SERV&srid=125&sbu=31 |archive-date= 7 May 2013 |url-status= dead }}</ref>

In 1944, 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 1945, the company represented British manufacturers of equipment used to manufacture products such as [[hydrogenated oil]]s, [[biscuit]]s, soaps and glass. In 1945, the company signed an agreement with [[Caterpillar Tractor Company]], USA, for marketing [[Heavy equipment|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.<ref name=larsentoubro.com/>

After India's independence in 1947, the firm set up offices in Calcutta (now [[Kolkata]]), Madras (now [[Chennai]]) and New Delhi. In 1948, 55 acres of undeveloped marsh and jungle was acquired in [[Powai]], Mumbai. In December 1950, L&T became a public company with a paid-up capital of {{INRConvert|20|l|year=1950}}. The sales turnover in that year was {{INRConvert|1.09|c|year=1950}}. In 1956, a major part of the company's Mumbai office moved to ICI House in [[Ballard Estate]], which would later be purchased by the company and renamed as L&T House, its present headquarters.<ref name=larsentoubro.com/>

During the 1960s, ventures included [[UTMAL]] (set up in 1960), [[Audco India Limited]] (1961), [[Eutectic Welding Alloys]] (1962) and [[TENGL]] (1963).<ref name=larsentoubro.com/>

In 1965,the firm had been chosen as a partner for building [[nuclear reactor]]s. Dr. [[Homi J. Bhabha|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?' <ref>{{Cite book|last=Merchant, Minhaz|url=https://www.worldcat.org/oclc/1021061261|title=The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse|year=2017|isbn=978-93-5277-288-9|location=Noida, Uttar Pradesh, India|pages=53|oclc=1021061261}}</ref>

During the 1970s, L&T was contracted to work with [[Indian Space Research Organisation]] (ISRO). Its then chairman, [[Vikram Sarabhai]], chose L&T as manufacturing partner. In 1972, when India launched its space programme, the firm was invited to participate.<ref name="Merchant, Minhaz 2017 54">{{Cite book|last=Merchant, Minhaz|url=https://www.worldcat.org/oclc/1021061261|title=The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse|year=2017|isbn=978-93-5277-288-9|location=Noida, Uttar Pradesh, India|pages=54|oclc=1021061261}}</ref>

In 1976, ECC bid for a large airport project in [[Abu Dhabi]]. 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.<ref>{{Cite book|last=Merchant, Minhaz|url=https://www.worldcat.org/oclc/1021061261|title=The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse|year=2017|isbn=978-93-5277-288-9|location=Noida, Uttar Pradesh, India|pages=53, 55|oclc=1021061261}}</ref>

In 1985, L&T entered into a partnership with [[Defence Research and Development Organisation]] (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.<ref name="Merchant, Minhaz 2017 54"/>

==Group Companies==

===Construction===
L&T Construction is among the world's top 15 contractors.<ref>{{Cite web|title=ENR 2019 Top 250 Global Contractors 1-100|url=https://www.enr.com/toplists/2019-Top-250-Global-Contractors-1|access-date=14 August 2020|website=www.enr.com}}</ref> 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.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/|access-date=14 August 2020|website=www.lntecc.com}}</ref>

====Buildings & Factories====
L&T's buildings and factories (B&F) business undertakes construction projects such as commercial buildings and airports, residential buildings, and factories.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/BuildFact/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> Its track record includes, 400 high-rise towers, 11 airports, 53 IT parks, 17 automobile plants, 28 cement plants and 45 hospitals. <ref name=":1">{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/common/builderstonations.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> L&T offered to oversee the design and construction of [[Ram Mandir, Ayodhya]] free of cost and is the contractor of the project.<ref>{{cite news |title=L&T to oversee the construction of Ram temple: Vishwa Hindu Parishad |url=https://www.business-standard.com/article/current-affairs/l-t-to-oversee-ram-temple-construction-champat-rai-120030300169_1.html |access-date=6 August 2020 |work=Business Standard |date=3 March 2020}}</ref><ref>{{cite news|last=Bajpai|first=Namita|date=29 February 2020|title=L&T ready to construct Ram temple in Ayodhya for free, say VHP leaders|work=The New Indian Express|url=https://www.newindianexpress.com/thesundaystandard/2020/feb/29/lt-ready-to-construct-ram-temple-in-ayodhya-for-free-say-vhp-leaders-2110327.html|access-date=6 August 2020}}</ref>

====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.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/HeavyCivil/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> 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.<ref name=":1" /> It has a subsidiary, L&T Geostructure LLP, and two JVs set up for metros in Doha and Saudi Arabia – [[Gold Line (Doha Metro)|ALYSI JV Gold Line Doha Metro]] and ArRiyadh New Mobility Consortium [[Riyadh Metro|Riyadh Metro Orange Line]].<ref>{{Cite web|last=AlnapedhTechnologies|title=ANM METRO {{!}} Members|url=https://www.anm-metro.com/members/|access-date=14 August 2020|language=en-US}}</ref>

====Transportation Infrastructure====
L&T's Transportation Infrastructure (TI) business undertakes projects such as roads, runways, elevated corridors, railways, etc.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/TransportationInfra/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> 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.<ref name=":1" /> It also operates through subsidiaries such as L&T Oman LLC,<ref>{{Cite web|title=LARSEN & TOUBRO (OMAN) LLC|url=https://businessgateways.com/lntoman|access-date=14 August 2020|website=businessgateways.com|language=en-US}}</ref> L&T Infrastructure Engineering Ltd,<ref>{{Cite web|last=Technologies|first=iStudio|title=LnT Infrastructure|url=http://lntiel.com/|access-date=14 August 2020|language=en-US}}</ref> and Hitech Rock Products & Aggregates Ltd.<ref>{{Cite web|title=HI-TECH ROCK PRODUCTS & AGGREGATES LIMITED - Company, directors and contact details {{!}} Zauba Corp|url=https://www.zaubacorp.com/company/HI-TECH-ROCK-PRODUCTS-AGGREGATES-LIMITED/U14290TN2008PLC065900|access-date=14 August 2020|website=www.zaubacorp.com}}</ref>

====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.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/PTD/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> It also operates in the Middle East, Africa and the [[ASEAN]] region. Its track record includes 12,510 tkm of railway electrification, 585 substations, 29,380 MW of [[Electrical Balance of Plant|E-BoP]], and 20,600 ckm (circuit kilometre) of transmission lines.<ref name=":1" />

====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.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/Water/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref> 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.<ref name=":1" />

====Metallurgical and Material Handling====
L&T also undertakes projects in the ferrous and non-ferrous sectors, i.e. iron and steel, aluminium, copper, zinc, lead and mineral [[beneficiation]] plants. It offers [[Engineering, procurement, and construction|EPC]] solutions{{buzzword inline|date=November 2020}} 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.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/MMH/home.html|access-date=14 August 2020|website=www.lntecc.com}}</ref>

==== Renewable Energy - L&T Solar ====
L&T develops concentrated solar power and solar photovoltaic technologies (grid-connected, rooftop and [[microgrid]]). It designs and builds solar power plants.<ref>{{Cite web|title=LNTECC|url=https://www.lntecc.com/homepage/RenewableEnergy/home.html|access-date=18 August 2020|website=www.lntecc.com}}</ref> L&T Solar, a subsidiary , undertakes [[solar energy]] projects. In April 2012, L&T commissioned India's largest solar [[photovoltaic]] power plant (40 MWp) owned by [[Reliance Power]] at [[Jaisalmer]], Rajasthan from concept to commissioning in 129 days.<ref>{{cite news|title=L&T commissions India's largest solar power plant|newspaper=Business Standard India|date=9 April 2012|url=http://www.business-standard.com/article/companies/l-t-commissions-india-s-largest-solar-power-plant-112040900107_1.html|url-status=live|archive-url=https://web.archive.org/web/20140226151654/http://www.business-standard.com/article/companies/l-t-commissions-india-s-largest-solar-power-plant-112040900107_1.html|archive-date=26 February 2014|access-date=7 February 2013}}</ref> 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.<ref>{{cite web|title=L&T partners with Sharp to provide turnkey Solar EPC-targets 100MW in 12 months and turnover of Rs 13 billion|url=http://panchabuta.com/2011/04/05/lt-partners-with-sharp-to-provide-turnkey-solar-epc-targets-100mw-in-12-months-and-turnover-of-rs-13-billion/|url-status=live|archive-url=https://web.archive.org/web/20120123222154/http://panchabuta.com/2011/04/05/lt-partners-with-sharp-to-provide-turnkey-solar-epc-targets-100mw-in-12-months-and-turnover-of-rs-13-billion/|archive-date=23 January 2012|access-date=7 February 2013}}</ref> L&T Infra Finance, promoted by the parent L&T Ltd, is also active in the funding of solar projects in India.<ref>{{cite news|title=L&T Infra bets on solar power|newspaper=Business Standard India|date=14 December 2011|url=http://www.business-standard.com/article/companies/l-t-infra-bets-on-solar-power-111121400033_1.html|url-status=live|archive-url=https://web.archive.org/web/20131002113714/http://www.business-standard.com/article/companies/l-t-infra-bets-on-solar-power-111121400033_1.html|archive-date=2 October 2013|access-date=7 February 2013}}</ref><ref>{{cite web|title=L&T Infra raises $ 100 mn through ECB to fund solar projects|url=http://www.thehindubusinessline.com/companies/article2795837.ece|url-status=live|archive-url=https://web.archive.org/web/20120422205203/http://www.thehindubusinessline.com/companies/article2795837.ece|archive-date=22 April 2012|access-date=7 February 2013}}</ref> 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.<ref>{{Cite web|title=L&T Hydrocarbon Engineering {{!}} L&T India|url=https://www.lnthydrocarbon.com/|access-date=18 August 2020|website=www.lnthydrocarbon.com|language=en}}</ref> 

L&T formed a joint venture with SapuraCrest Petroleum Berhad, Malaysia for providing services to the [[offshore construction]] industry.<ref>{{cite web|title=(OIF), Joint Venture company formed by Larsen & Toubro Ltd. (L&T), India and SapuraCrest Petroleum Berhad, Malaysia|url=http://www.offshore-internationalfzc.com/|url-status=dead|archive-url=https://web.archive.org/web/20100514145853/http://www.offshore-internationalfzc.com/|archive-date=14 May 2010|access-date=16 July 2010|publisher=Offshore International FZC}}</ref> The joint venture owns and operates the LTS 3000, a [[crane vessel]] 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.<ref>{{cite web |url=http://www.indiaenvironmentportal.org.in/category/thesaurus/industry/habitat-and-urbanisation/construction-industry/larsen-toubro-l-t |title=Larsen & Toubro (L & T) |publisher=India Environment Portal |access-date=16 July 2010 |archive-url=https://web.archive.org/web/20100429204934/http://www.indiaenvironmentportal.org.in/category/thesaurus/industry/habitat-and-urbanisation/construction-industry/larsen-toubro-l-t |archive-date=29 April 2010 |url-status=dead }}</ref> L&T has formed two joint ventures with [[Mitsubishi Heavy Industries]], Japan to manufacture super critical boilers and steam turbine generators.<ref>{{cite web|url=http://www.allbusiness.com/energy-utilities/utilities-industry-electric-power/14428399-1.html |title=MHI Receives Order for 3 Supercritical-Pressure Boiler/Steam Turbine Sets | Asia > South Asia from |publisher=AllBusiness.com |date=11 May 2010 |access-date=16 July 2010}}</ref> 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.<ref>{{Cite web|title=Overview {{!}} L&T MHPS Turbine{{!}} L&T India|url=https://www.lntmhpsturbogen.com/company/overview/|access-date=14 July 2020|website=www.lntmhpsturbogen.com|language=en}}</ref> '''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.<ref>{{Cite web|title=Overview {{!}} MHPS Boilers {{!}} L&T India|url=https://www.lntmhps.com/company/overview/|access-date=14 July 2020|website=www.lntmhps.com|language=en}}</ref>

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.<ref>{{Cite web|title=Indian Defense Industry -Top Private Sector Players|url=http://defenseindustry.in/top-private-sector-players/|access-date=8 September 2020|website=Defense Industry|language=en-US}}</ref> It offers design-to-delivery solutions{{buzzword inline|date=November 2020}} for land, sea and air defence. The company also offers specialised turnkey defence construction services, infrastructure and modernization of facilities.<ref>{{Cite web|title=Overview {{!}} About Us {{!}} L&T Defence|url=https://www.lnt-defence.com/about-us/overview/|access-date=8 September 2020|website=www.lnt-defence.com|language=en}}</ref> L&T's Aerospace business manufactures equipment and systems for the aviation and space industry, and has contributed to [[Indian Space Research Organisation|ISRO's]] [[Chandrayaan-2]] and [[Mars Orbiter Mission|Mars Orbiter]] missions.<ref>{{Cite news|last=Pandey|first=Piyush|date=22 July 2019|title=Godrej, L&T play a role in successful moon mission|language=en-IN|work=The Hindu|url=https://www.thehindu.com/business/godrej-lt-play-a-role-in-successful-moon-mission/article28660328.ece|access-date=8 September 2020|issn=0971-751X}}</ref>

==== Heavy Engineering ====
L&T is among the five largest fabrication companies in the world.<ref>{{cite web|title=No.1 Construction Companies in World|url=http://www.no1construction.com|url-status=live|archive-url=https://web.archive.org/web/20110805132701/http://www.no1construction.com/|archive-date=5 August 2011|access-date=10 August 2011|publisher=No.1 Construction}}</ref> L&T has a shipyard capable of constructing vessels of up to 150 metre long and displacement of 20,000 tons<ref>{{cite web|date=28 February 2010|title=Larsen & Toubro. It's All About Engineering!|url=http://www.tejwebworld.com/larsen-toubro-its-all-about-engineering/|url-status=live|archive-url=https://web.archive.org/web/20100905061939/http://www.tejwebworld.com/larsen-toubro-its-all-about-engineering/|archive-date=5 September 2010|access-date=16 July 2010|publisher=Tej Web World}}</ref> at its heavy engineering complexes at [[Hazira]] and [[Ranoli]], [[Gujarat]]. The shipyard constructs specialised [[heavy-lift ship]]s, [[CNG carrier]]s, [[chemical tanker]]s, defence & para-military vessels, [[submarine]]s and other role-specific vessels.

=== L&T Realty ===
{{main|L&T Realty}}
L&T Realty is the [[real estate development]] arm of Larsen & Toubro.<ref name="auto">{{Cite web|url=http://epaperbeta.timesofindia.com//Article.aspx?eid=31804&articlexml=An-address-that-is-distinctly-refined-exceptionally-rare-30052015301006|title=An address that is distinctly refined, exceptionally rare|website=epaperbeta.timesofindia.com|access-date=15 January 2016|archive-url=https://web.archive.org/web/20160215141930/http://epaperbeta.timesofindia.com/Article.aspx?eid=31804&articlexml=An-address-that-is-distinctly-refined-exceptionally-rare-30052015301006|archive-date=15 February 2016|url-status=live}}</ref><ref>{{Cite news|url=http://wap.business-standard.com/article/companies/l-t-s-youngest-baby-shows-growth-in-face-of-slowdown-114040400087_1.html|title=L&T's 'youngest baby' shows growth in face of slowdown {{!}} Business Standard Mobile Website|newspaper=Business Standard India|date=4 April 2014|access-date=15 January 2016|archive-url=https://web.archive.org/web/20160120224538/http://wap.business-standard.com/article/companies/l-t-s-youngest-baby-shows-growth-in-face-of-slowdown-114040400087_1.html|archive-date=20 January 2016|url-status=live|last1=Kamath|first1=Raghavendra}}</ref> 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.<ref>{{Cite news|url=http://economictimes.indiatimes.com/wealth/news/Blackstone-in-talks-with-LT-realty-to-buy-1-million-sq-ft-retail-space/articleshow/49366978.cms|title=Blackstone in talks with L&T realty to buy 1 million sq ft retail space - The Economic Times|website=The Economic Times|access-date=15 January 2016|archive-url=https://web.archive.org/web/20160110205134/http://economictimes.indiatimes.com/wealth/news/blackstone-in-talks-with-lt-realty-to-buy-1-million-sq-ft-retail-space/articleshow/49366978.cms|archive-date=10 January 2016|url-status=live|last1=Babar|first1=Kailash|last2=Khan|first2=Sobia}}</ref>

===Machinery and industrial products===
L&T manufactures, markets and provides service support for construction and mining machinery, including surface miners, [[hydraulic excavator]]s, [[aggregate crusher]]s, [[loader backhoe]]s and vibratory [[compactor]]s; supplies rubber processing machinery and manufactures and markets industrial valves and allied products along with application-engineered [[welding]] alloys.{{Citation needed|date=June 2013}}

=== 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]] 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.<ref>{{cite web|url=https://www.thehindubusinessline.com/economy/logistics/N.V.S.-Reddy-to-be-AP-Govt-nominee-on-LampT-Metro-Rail-board/article20397817.ece|title=N.V.S. Reddy to be AP Govt nominee on L&T Metro Rail board|access-date=4 August 2019|archive-url=https://web.archive.org/web/20190804170428/https://www.thehindubusinessline.com/economy/logistics/N.V.S.-Reddy-to-be-AP-Govt-nominee-on-LampT-Metro-Rail-board/article20397817.ece|archive-date=4 August 2019|url-status=live}}</ref> 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.<ref>{{Cite web|title=About L&T Metro Rail Limited {{!}} Hyderabad Metro {{!}} L&T India|url=https://www.ltmetro.in/about-us/about-lt-metro-rail-limited/|access-date=14 July 2020|website=www.ltmetro.in|language=en}}</ref>

The company has commenced work on the Rs. 5,273 Crore [[Mumbai Metro]] Line 3 project. It consists of two packages: Package 1([[Cuffe Parade]]-VidhanBhavan-[[Churchgate]]-[[Hutatma Chowk]]) and Package 7 ([[Marol]] Naka-MIDC-[[SEEPZ]]).<ref>{{cite news|last=Prasad|first=Rachita|date=5 July 2016|title=Larsen & Toubro bags two packages each of Mumbai Metro Rail Corporation|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/larsen-toubro-bags-two-packages-each-of-mumbai-metro-rail-corporation/articleshow/53061622.cms|url-status=live|archive-url=https://web.archive.org/web/20181114100523/https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/larsen-toubro-bags-two-packages-each-of-mumbai-metro-rail-corporation/articleshow/53061622.cms|archive-date=14 November 2018|access-date=14 November 2018|newspaper=The Economic Times}}</ref> It is also engaged in major metro rail projects in the Middle-East.<ref>{{cite web|title=L&T India - Error Page|url=http://www.larsentoubro.com/corporate/pagenotfound/?aspxerrorpath=/media/33311/2016-07-05-lt-to-commence-rs-5-273-cr-mumbai-metro-line-3-project.pdf|website=www.larsentoubro.com}}{{Dead link|date=July 2021 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

==Major subsidiaries and joint ventures==
[[File:Larsen & Toubro Office.png|thumb|Larsen & Toubro Office at [[Faridabad]], Delhi NCR.]]
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.{{citation needed|date=February 2018}}
*L&T – Construction Equipment Limited: having its registered office at [[Mumbai]], India and focusing on [[construction equipment]] and [[mining equipment]], '''L&T-Komatsu Limited'''<ref>{{cite web |url=http://www.komatsu.com/CompanyInfo/profile/group/detail.cgi?name=L%26T-Komatsu%20Limited%20%5BLTK%5D%20 |title=L&T Komatsu Ltd |publisher=Komatsu Limited |access-date=10 August 2011 |archive-url=https://web.archive.org/web/20110928040125/http://www.komatsu.com/CompanyInfo/profile/group/detail.cgi?name=L&T-Komatsu%20Limited%20%5BLTK%5D%20 |archive-date=28 September 2011 |url-status=live }}</ref> was a joint-venture of Larsen and Toubro, and Komatsu Asia Pacific Pte Limited, Singapore, a wholly owned subsidiary of [[Komatsu Limited]], Japan. Komatsu is the world's second largest manufacturer of hydraulic excavators and has manufacturing and marketing facilities.<ref>[[Komatsu Limited]]</ref> 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.<ref>{{cite web|url=http://www.larsentoubro.com/lntcorporate/common/ui_templates/HtmlContainer.aspx?res=P_CMB_BABT_COPR_ALNT|title=Change name|publisher=Larsen&Toubro|access-date=10 June 2013|archive-url=https://web.archive.org/web/20130606061346/http://www.larsentoubro.com/lntcorporate/common/ui_templates/HtmlContainer.aspx?res=P_CMB_BABT_COPR_ALNT|archive-date=6 June 2013|url-status=dead}}</ref><ref>{{cite web | url=http://articles.economictimes.indiatimes.com/2013-04-13/news/38511372_1_larsen-toubro-construction-equipment-brand-equity | title=L&T to buy out Komatsu subsidiary in joint venture | date=13 April 2013 | publisher=Economic Times | access-date=13 April 2013 | archive-url=https://web.archive.org/web/20130710080524/http://articles.economictimes.indiatimes.com/2013-04-13/news/38511372_1_larsen-toubro-construction-equipment-brand-equity | archive-date=10 July 2013 | url-status=live }}</ref>
* L&T has a joint venture with Qatari company Al Balagh group as the main contractors for the [[Ahmed bin Ali Stadium|Al Rayyan stadium]], the [[2022 FIFA World Cup]] stadium which will host matches up to the quarter-final.<ref>{{Cite news|last=ANI|date=7 June 2016|title=Indian firm L&T named main contractors for 2022 FIFA WC stadium|work=Business Standard India|url=https://www.business-standard.com/article/news-ani/indian-firm-l-t-named-main-contractors-for-2022-fifa-wc-stadium-116060700642_1.html|access-date=15 July 2020}}</ref>
* L&T Finance: Larsen & Toubro [[financial services]] is a subsidiary which was incorporated as a [[non-banking financial company]] in November 1994.<ref>{{cite web|url=http://www.ltfinance.com/overview.aspx|title=Overview|publisher=Larsen&Toubro|access-date=10 August 2011|archive-url=https://web.archive.org/web/20110826063755/http://www.ltfinance.com/overview.aspx|archive-date=26 August 2011|url-status=live}}</ref> The subsidiary has financial products and services for corporate, construction equipments.. This became a division in 2011 after the company declared its restructuring<ref>{{cite news |url=http://www.business-standard.com/india/news/lt-to-restructure-biz-into-9-verticals/123327/on |title=L&T to restructure biz into 9 verticals |newspaper=Business Standard India |publisher=business Standard |date=24 January 2011 |access-date=10 August 2011 |archive-url=https://web.archive.org/web/20110226110857/http://www.business-standard.com/india/news/lt-to-restructure-biz-into-9-verticals/123327/on |archive-date=26 February 2011 |url-status=live |last1=Kumar |first1=Abhineet }}</ref> A partnership between L&T Finance and [[Sonalika Group]] farm equipment maker International Tractors Ltd in April 2014 provided credit and financing to customers of Sonalika Group in India.<ref>{{cite news|title=International Tractors Ltd signs pact with L&T Finance for vehicle loans|newspaper=The Economic Times|url=http://economictimes.indiatimes.com/industry/auto/automobiles/international-tractors-ltd-signs-pact-with-lt-finance-for-vehicle-loans/articleshow/34074103.cms|publisher=The Economic Times of India|access-date=22 April 2014|archive-url=https://web.archive.org/web/20140511045939/http://economictimes.indiatimes.com/industry/auto/automobiles/international-tractors-ltd-signs-pact-with-lt-finance-for-vehicle-loans/articleshow/34074103.cms|archive-date=11 May 2014|url-status=live}}</ref>
*[[L&T Mutual Fund]] is the [[mutual fund]] company of the L&T Group. Its average [[assets under management]] (AuM) as of May 2019 is {{Indian Rupee}} 73,936.68 crore.<ref>{{cite web |url=http://www.amfiindia.com/research-information/aum-data/average-aum |title=Average AUM |publisher=Association of Mutual Funds in India |access-date=8 December 2013 |archive-url=https://web.archive.org/web/20131213060208/http://www.amfiindia.com/research-information/aum-data/average-aum |archive-date=13 December 2013 |url-status=live }}</ref>
* Larsen & Toubro Infrastructure Finance: this wholly owned subsidiary commenced business in January 2007 upon obtaining [[Non-banking financial company|Non-Banking Financial Company]] (NBFC) license from the [[Reserve Bank of India]] (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.{{citation needed|date=January 2016}} 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]]s for the oil and gas, refining, petrochemical, chemical and power industries, industrial valves and customised products for [[Oil refinery|refinery]], [[LNG]], GTL, [[petrochemical]] 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]]s used in [[power plant]]s. It is mainly headquartered in [[Faridabad]] 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 [[Mitsubishi Heavy Industries]] 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]] 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]], Japan.
* L&T Howden Pvt Ltd is a joint venture between L&T and Howden to manufacture [[axial fan]]s and [[air preheater|air pre-heater]]s in the range of 120-1200 MW to [[thermal power station]]s. L&T Howden is an [[ISO 9001]] 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]], 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.<ref>{{Cite web |url=http://www.npcil.nic.in/pdf/press_lnt_jv.pdf |title=Archived copy |access-date=28 December 2014 |archive-url=https://web.archive.org/web/20141228034722/http://www.npcil.nic.in/pdf/press_lnt_jv.pdf |archive-date=28 December 2014 |url-status=dead }}</ref>
* 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<ref>{{cite web|title=L&T-Sargent & Lundy Ltd - Company Profile and News|url=https://www.bloomberg.com/profile/company/8158918Z:IN|access-date=2020-09-26|website=Bloomberg.com}}</ref><ref>{{cite web|url=http://www.lntsnl.com/about-us/|title=Premier Engineering & Consultancy firm in the Power Sector - L&T-Sargent & Lundy|website=www.lntsnl.com|access-date=24 March 2018|archive-url=https://web.archive.org/web/20180325045116/http://www.lntsnl.com/about-us/|archive-date=25 March 2018|url-status=live}}</ref>
* In 2015, the company began developing commercial, retail and office space around the [[Hyderabad Metro Rail]] project.<ref>{{cite web|author=V. Rishi Kumar|title=L&T Hyderabad Metro wins infrastructure award|url=http://www.thehindubusinessline.com/news/national/lt-hyderabad-metro-wins-infrastructureaward/article7625261.ece|work=The Hindu Business Line}}</ref><ref>{{cite web|author=V Rishi Kumar|title=Hyderabad metro to boost transit-oriented development|url=http://www.thehindubusinessline.com/economy/logistics/sbi-medplus-among-others-to-sign-up-for-services-with-lt-hyderabad-metro/article7301880.ece|work=The Hindu Business Line}}</ref><ref>{{cite web|author=Viswanath Pilla|title=L&T begins leasing commercial space along Hyderabad Metro|url=http://www.livemint.com/Companies/ZVR6lfyBnkiGXmNA9KHRzM/LT-begins-leasing-commercial-space-along-Hyderabad-Metro.html|url-status=live|archive-url=https://web.archive.org/web/20160229214218/http://www.livemint.com/Companies/ZVR6lfyBnkiGXmNA9KHRzM/LT-begins-leasing-commercial-space-along-Hyderabad-Metro.html|archive-date=29 February 2016|access-date=13 February 2016|work=livemint.com/|date=11 June 2015}}</ref><ref>{{cite web|title=L&T to Develop Commercial Space Around Hyderabad Metro|url=http://profit.ndtv.com/news/corporates/article-l-t-to-develop-commercial-space-around-hyderabad-metro-770474|url-status=live|archive-url=https://web.archive.org/web/20160216122225/http://profit.ndtv.com/news/corporates/article-l-t-to-develop-commercial-space-around-hyderabad-metro-770474|archive-date=16 February 2016|access-date=13 February 2016}}</ref><ref>{{cite web|title=L&T plans 8 malls on metro route|url=http://timesofindia.indiatimes.com/city/hyderabad/LT-plans-8-malls-on-metro-route/articleshow/47621342.cms|url-status=live|archive-url=https://web.archive.org/web/20160214022546/http://timesofindia.indiatimes.com/City/Hyderabad/LT-plans-8-malls-on-metro-route/articleshow/47621342.cms|archive-date=14 February 2016|access-date=13 February 2016|work=The Times of India}}</ref><ref>{{cite news|author=IANS|date=10 June 2015|title=L&T to develop commercial space with Hyderabad Metro|newspaper=Business Standard India|url=http://www.business-standard.com/article/news-ians/l-t-to-develop-commercial-space-with-hyderabad-metro-115061000834_1.html|url-status=live|archive-url=https://web.archive.org/web/20160216120423/http://www.business-standard.com/article/news-ians/l-t-to-develop-commercial-space-with-hyderabad-metro-115061000834_1.html|archive-date=16 February 2016|access-date=13 February 2016}}</ref>
* In June 2019, the company acquired a controlling stake in IT services company Mindtree Ltd<ref>{{cite web|date=26 June 2019|title=Mindtree erases gains to settle in the red|url=https://economictimes.indiatimes.com/markets/stocks/news/mindtree-jumps-as-lt-hikes-stake-to-51/articleshow/69953716.cms|url-status=live|archive-url=https://web.archive.org/web/20190626104519/https://economictimes.indiatimes.com/markets/stocks/news/mindtree-jumps-as-lt-hikes-stake-to-51/articleshow/69953716.cms|archive-date=26 June 2019|access-date=26 June 2019|via=The Economic Times}}</ref>

== Technology Cluster ==

===L&T Technology Services===
{{Main|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]], 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<ref>{{Cite web|title=L&T Technology hits the capital markets|url=http://www.mysharebazaar.com/ipo-2016/l-t-technology-services-ipo-price-date-details-allotment-listing/|url-status=live|archive-url=https://web.archive.org/web/20160910014409/http://www.mysharebazaar.com/ipo-2016/l-t-technology-services-ipo-price-date-details-allotment-listing/|archive-date=10 September 2016|access-date=8 September 2016|website=MyShareBazaar.com}}</ref>

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.<ref>{{Cite news|url=http://www.business-standard.com/article/markets/10-things-to-know-in-l-t-infotech-ipo-116063000643_1.html|title=10 things to know in L&T Infotech IPO|last=Asthana|first=Shishir|date=30 June 2016|work=Business Standard India|access-date=10 May 2017|archive-url=https://web.archive.org/web/20170624083800/http://www.business-standard.com/article/markets/10-things-to-know-in-l-t-infotech-ipo-116063000643_1.html|archive-date=24 June 2017|url-status=live}}</ref>

===Larsen & Toubro Infotech (LTI)===
{{Main|Larsen & Toubro Infotech}}
Larsen & Toubro Infotech Limited, a wholly owned subsidiary of L&T, offers [[information technology]], software and services with a focus on manufacturing, [[BFSI]] and communications and [[embedded system]]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{{buzzword inline|date=November 2020}} as a master systems integrator in security solutions{{buzzword inline|date=November 2020}} 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{{buzzword inline|date=November 2020}} like wi-fi hotspots, citizen information systems and surveillance cameras.<ref>{{Cite book|last=Merchant, Minhaz|url=https://www.worldcat.org/oclc/1021061261|title=The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse|year=2017|isbn=978-93-5277-288-9|location=Noida, Uttar Pradesh, India|pages=188|oclc=1021061261}}</ref>

=== 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{{buzzword inline|date=November 2020}} as well as cybersecurity and leverage the experience that L&T has garnered over the decades.<ref>{{Cite web|last=www.ETCIO.com|title=L&T announces new strategic initiative L&T-Nxt - ET CIO|url=https://cio.economictimes.indiatimes.com/news/corporate-news/lt-announces-new-strategic-initiative-lt-nxt/68630718|access-date=14 July 2020|website=ETCIO.com|language=en}}</ref> L&T-NxT is based on the strength and experience of L&T.<ref>{{Cite news|last=Majumdar|first=Romita|date=30 March 2019|title=L&T launches strategic unit L&T-Nxt to focus on AI, Internet of Things|work=Business Standard India|url=https://www.business-standard.com/article/companies/l-t-launches-strategic-unit-l-t-nxt-to-focus-on-ai-internet-of-things-119033000012_1.html|access-date=14 July 2020}}</ref>

=== Mindtree ===
{{Main|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.<ref>{{Cite news|agency=Press Trust of India|date=2019-07-03|title=L&T has 'acquired control' of the company with 60.06% stake: Mindtree|work=Business Standard India|url=https://www.business-standard.com/article/companies/l-t-has-acquired-control-of-the-company-with-60-06-stake-mindtree-119070301241_1.html|access-date=2020-11-12}}</ref>

== 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{{buzzword inline|date=November 2020}} 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.<ref>{{Cite book|last=Merchant, Minhaz|url=https://www.worldcat.org/oclc/1021061261|title=The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse|year=2017|isbn=978-93-5277-288-9|location=Noida, Uttar Pradesh, India|pages=221|oclc=1021061261}}</ref>

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

=== Cement ===
L&T separated its 16.5 million tonne cement division into a different entity UltraTech Cemco, divesting 8.5 per cent stake to A V Birla group company [[Grasim Industries]] in 2004.<ref>{{Cite web|last1=14 May|first1=PTI {{!}}|last2=2004|last3=Ist|first3=14:16|title=L&T cement business demerger comes into effect - Times of India|url=https://timesofindia.indiatimes.com/business/india-business/LT-cement-business-demerger-comes-into-effect/articleshow/675137.cms|access-date=14 July 2020|website=The Times of India|language=en}}</ref>

=== L&T-John Deere ===
In 1992, L&T established a 50-50 joint venture with [[John Deere]] to manufacture tractors in India, called [[L&T - John Deere]]. L&T sold their interest to John Deere in 2005.<ref>{{cite web|title=L&T India - Error Page|url=http://www.larsentoubro.com/lntcorporate/LnT_PRS/news_news_press.aspx?res=P_CORP_EMID_BPRS&PR_ID=150|url-status=dead|archive-url=https://web.archive.org/web/20180319004246/http://www.larsentoubro.com/lntcorporate/LnT_PRS/news_news_press.aspx?res=P_CORP_EMID_BPRS&PR_ID=150|archive-date=19 March 2018|access-date=15 June 2017|website=www.larsentoubro.com}}</ref>

=== 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.<ref>{{Cite web|title=L&T divests stake in L&T-Case JV|url=https://www.constructionweekonline.in/lt-divests-stake-in-lt-case-jv|access-date=14 July 2020|website=Construction Week Online India|language=en}}</ref>

=== L&T Medical Equipment and Systems ===
's medical equipment division, known as L&T Medical Equipment & Systems, was established in 1987.<ref>{{Cite web|title=L&T to sell medical equipment biz|url=https://www.thehindubusinessline.com/companies/lampt-to-sell-medical-equipment-biz/article20530051.ece1|access-date=10 July 2020|website=@businessline|language=en}}</ref> In November 2012, L&T sold it to Skanray Technologies Pvt Ltd.<ref>{{Cite web|date=17 November 2012|title=L&T sells medical equipment biz to Skanray Healthcare|url=https://www.financialexpress.com/archive/lt-sells-medical-equipment-biz-to-skanray-healthcare/1032279/|access-date=10 July 2020|website=The Financial Express|language=en-US}}</ref> 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]] rods and fluxes, [[welding torch]]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]] 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.<ref>{{Cite web|date=12 October 2017|title=Larsen and Toubro sells EWAC Alloys for Rs 522 cr to UK's ESAB|url=https://www.financialexpress.com/industry/larsen-and-toubro-sells-ewac-alloys-for-rs-522-cr-to-uks-esab/891102/|access-date=10 July 2020|website=The Financial Express|language=en-US}}</ref> 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]] 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.<ref>{{Cite news|last=Prasad|first=Rachita|title=L&T sells 51% stake in JV to partner Kobe Steel for Rs 43.5 crore - The Economic Times|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/lt-sells-51-stake-in-jv-to-partner-kobe-steel-for-rs-43-5-crore/articleshow/68705621.cms|access-date=15 July 2020}}</ref>

===Electrical and Automation===
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.<ref>{{cite web|author=Powered by Intergage http://www.intergage.co.uk|title=Larsen & Toubro Limited (L&T)|url=http://www.rina.org.uk/page666.html|url-status=dead|archive-url=https://web.archive.org/web/20110717045722/http://www.rina.org.uk/page666.html|archive-date=17 July 2011|access-date=16 July 2010|publisher=Rina.org.u}}</ref> In the electronic segment, L&T offered a range of [[Electricity meter|metre]]s and provides control automation systems for industries. In May 2018, the firm signed a definitive agreement with [[Schneider Electric]] for the strategic divestment of its electrical and automation (E&A) business in an all-cash deal of ₹14,000 crore.<ref>{{Cite news|title=L&T to divest automation division in Rs 14,000 crore deal - The Economic Times|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/lt-to-divest-automation-division-in-rs-14000-crore-deal/articleshow/63986428.cms?from=mdr|access-date=14 July 2020}}</ref> 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.<ref>{{Cite web|last=Thomas|first=Tanya|date=31 August 2020|title=L&T sells electrical, automation business to Schneider Electric for ₹14,000 cr|url=https://www.livemint.com/companies/news/l-t-sells-its-electrical-and-automation-business-to-schneider-electric-for-rs-14-000-crore-11598877278444.html|access-date=8 September 2020|website=mint|language=en}}</ref>

==Listing and shareholding==
The [[equity shares]] of the company are listed on the [[Bombay Stock Exchange]] (BSE) and the [[National Stock Exchange of India]] (NSE). The company's shares constitute a part of the [[BSE SENSEX]] of the [[Bombay Stock Exchange|BSE]] as well as the [[NIFTY 50]] index of the [[National Stock Exchange of India|NSE]].<ref name=AR201213>{{cite web |url=http://www.bseindia.com/bseplus/AnnualReport/500510/5005100313.pdf |title=Annual Report 2012-13 |publisher=L&T |access-date=3 December 2013 |archive-url=https://web.archive.org/web/20131209055027/http://www.bseindia.com/bseplus/AnnualReport/500510/5005100313.pdf |archive-date=9 December 2013 |url-status=live }}</ref> Its [[global depository receipt]]s (GDR) are listed on the [[Luxembourg Stock Exchange]] and [[London Stock Exchange]].<ref name=AR201213/>

=== Shareholders ===
Shareholders as of 31 March 2020<ref>{{Cite web|title=L&T India-Stock Information|url=https://investors.larsentoubro.com/StockInformation.aspx|website=L&T India - Investors Home}}</ref>

{| class="wikitable"
!Major holder
!Percentage
|-
|Promoters
|0.00
|-
|Institutional Investors
|54.22
|-
|Government
|0.38
|-
|Other Investors
|24.43
|-
|Public
|20.98
|-
|Total
|100.00
|}

==Employees==
As on 31 March 2019, the company had 44,332 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 2,93,662 employees on contract basis.<ref>{{Cite web |url=http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf |title=Archived copy |access-date=23 July 2019 |archive-date=30 September 2020 |archive-url=https://web.archive.org/web/20200930132047/http://investors.larsentoubro.com/upload/AnnualRep/FY2019AnnualRepFull%20Annual%20Report%202018-19.pdf |url-status=dead }}</ref>

==Awards and recognition==
* L&T ranked 4th in the 2021 LinkedIn Top Companies list, India<ref>{{Cite web|title=Top Companies 2021: The 25 best workplaces to grow your career in India|url=https://www.linkedin.com/pulse/top-companies-2021-25-best-workplaces-grow-your-career-|access-date=2021-07-16|website=www.linkedin.com|language=en}}</ref>
*In 2021, L&T won the Innovation in Onboarding at the OLX People HR Excellence awards by The Economic Times HRWorld<ref>{{Cite web|last=www.ETHRWorld.com|title=OLX People HR Excellence Awards {{!}} ETHRWorld|url=https://hr.economictimes.indiatimes.com/olx-people-hr-excellence-awards|access-date=2021-07-16|website=ETHRWorld.com|language=en}}</ref>
*L&T Hydrocarbon won the Federation of Indian Petroleum Industry (FIPI) ‘Engineering Procurement Construction (EPC) - Company of the Year’ Award for 2020<ref>{{Cite web|title=FIPI - Federation of Indian Petroleum Industry {{!}} www.fipi.org.in|url=https://www.fipi.org.in/winners-2020.php|access-date=2021-07-16|website=www.fipi.org.in}}</ref>
*In 1997, the Bengaluru Works division was awarded the "Best of all" [[Rajiv Gandhi National Quality Award]]<ref>{{cite web | url = http://www.bis.org.in/other/rgnqa_win_12.pdf | title = ANNEX IV: LIST OF AWARD WINNERS OF RAJIV GANDHI NATIONAL QUALITY AWARDS | last1 = SHRAWAN | date = 29 May 2013 | website = bis.org.in | publisher = [[Bureau of Indian Standards]] | location = [[New Delhi]] | access-date = 15 May 2014 | archive-url = https://web.archive.org/web/20141202153812/http://www.bis.org.in/other/rgnqa_win_12.pdf | archive-date = 2 December 2014 | url-status = live }}</ref>
* In 2013, L&T Power received 'Golden Peacock National Quality Award – 2012' at the 23rd World Congress on 'Leadership & Quality of Governance'.<ref>{{cite web |url=http://www.goldenpeacockawards.com/past-winners/national-quality-award-gpnqa.html |title=National Quality Award (GPNQA) |publisher=goldenpeacockawards.com |date=13 February 2013 |access-date=3 December 2013 |archive-url=https://web.archive.org/web/20131109214339/http://www.goldenpeacockawards.com/past-winners/national-quality-award-gpnqa.html |archive-date=9 November 2013 |url-status=live }}</ref><ref>{{cite web |url=http://www.larsentoubro.com/lntcorporate/LnT_NWS/PDF/GoldenPeackLTPower13022013.pdf |title=L&T Power Wins 'Golden Peacock National Quality Award' |publisher=L&T |date=13 February 2013 |access-date=3 December 2013 |archive-url=https://web.archive.org/web/20131206200925/http://www.larsentoubro.com/lntcorporate/LnT_NWS/PDF/GoldenPeackLTPower13022013.pdf |archive-date=6 December 2013 |url-status=live }}</ref>

==See also==
{{Portal|Companies|India}}
* [[Yeshwant Deosthalee]], rose through the ranks to become tChairman
* [[L&T Realty]]
* [[List of companies of India]]
* [[List of oilfield service companies]]
* [https://www.larsentoubro.com/heavy-engineering/]

==References==
{{Reflist|30em}}

==External links==
* {{official website}}

{{Larsen & Toubro}}
{{Nifty 200 companies}}
{{BSE Sensex}}
{{S&P CNX Nifty companies}}








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

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