- Business
- Larsen & Toubro Limited (L&T) is an Indian multinational conglomerate engaged in engineering, procurement, and construction (EPC) projects; hi-tech manufacturing; and services across infrastructure, hydrocarbon, power, defense, heavy engineering, aerospace, shipbuilding, electrical and automation systems, mining, metallurgy, information technology, and financial services. Founded in 1938 and headquartered in Mumbai, India, the company operates in over 50 countries with manufacturing facilities in eight countries beyond India and a global supply chain; its core offerings encompass infrastructure projects including buildings and factories, transportation infrastructure such as roads, highways, bridges, airports, railways, and metros; heavy civil infrastructure like dams, tunnels, and water supply systems; smart world and communication networks; energy projects in hydrocarbons, refineries, petrochemicals, fertilizers, and nuclear power; hi-tech manufacturing of custom-designed equipment, critical piping, defense systems, artillery, and reactors; IT and technology services focused on digital engineering, product development, smart manufacturing, cloud, and AI solutions; and allied businesses in development projects and financial services. L&T maintains leadership through integrated design-to-delivery capabilities, a customer-focused approach, and high standards of corporate governance and sustainability, targeting carbon neutrality by 2040 and water neutrality by 2035 while executing landmark projects such as metro systems in 10 Indian cities and portions of Riyadh and Doha metros, India's largest transit-oriented development in Hyderabad, the world's longest extra-dosed bridge over the Ganges, and contributions to 19 of India's 22 nuclear reactors. Recent developments include the acquisition of up to 21% stake in E2E Networks Limited in November 2024 to bolster AI and cloud services capabilities, complemented by software license, reseller, and colocation agreements; full acquisition of the remaining 26% stake in L&T Special Steels and Heavy Forgings Private Limited from Nuclear Power Corporation in February 2025; strategic partnerships such as with BAE Systems in November 2025 for licensed manufacturing of BvS10 armored vehicles for the Indian Army, General Atomics Aeronautical Systems in October 2025 for MALE RPAS manufacture, Holtec International in November 2025 for nuclear heat transfer solutions, ReNew Power for green hydrogen, and the U.S. Navy for ship repair; securing an ultra-mega order for onshore hydrocarbons in October 2025, a data center project in Uzbekistan, residential towers from Brigade Group, and a role in TenneT's offshore wind program; rebranding its data center business as Larsen & Toubro-Vyoma in November 2025; tuck-in acquisitions by subsidiaries like LTTS of a Silicon Valley software company and L&T's full stake in semiconductor design startup SiliConch; and robust financial performance in FY2025 with revenues exceeding ₹2.55 lakh crore (16% YoY growth), record order inflows of ₹3.56 lakh crore, and an all-time high order book of ₹5.79 lakh crore as of March 31, 2025, providing multi-year visibility amid a ₹19 lakh crore tender pipeline for FY2026.