MD S N SUBRAHMANYAN
L&T hit by 'severe' skilled manpower shortage: 45,000 engineers & techies needed
Larsen & Toubro (L&T) faces a severe shortage of skilled labor, with a deficit of 25,000 workers in engineering and construction, and 20,000 in IT and IT services, per its Chairman S N Subrahmanyan. This shortfall, due to various factors including high attrition and migration, is affecting project execution.
Narayanan Vaghul cremated in Chennai, industry doyens pay last respects to veteran banker
Veteran banker and Padma Bhushan recipient Narayanan Vaghul, who passed away on May 18 at the age of 88, was cremated in Chennai on Sunday. Industry leaders including Ajay Piramal and R Seshasayee paid their respects. Vaghul, former head of ICICI, was remembered for his significant contributions to the banking sector, particularly in mentoring many successful women bankers. Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das also offered condolences.
Be ready for 'massive changes' in ecosystem: SN Subrahmanyan
"The future is closer than you think. There are basic and massive changes occurring in the ecosystem, energy change, sustainability as a way of life and digitalisation is impacting every aspect of business. We must be future ready," said S N Subrahmanyan, in his letter to the employees after taking charge of L&T on October 1.
No reason why we cannot again, go back to double-digit growth: Debashis Chatterjee, LTIMindtree
Yes, I think, it is not me, it is me and my team who have to get it done and I think it is achievable. And if you look at the overall aspiration they have, they have been very supportive in terms of what we have done so far and what we want to do.
Names of top L&T, former Cognizant executives come to fore in corruption case investigation
The case involves bribes allegedly paid to officials of Chennai Metropolitan Development Authority (CMDA), state housing, urban development department, as well as the then minister, during the construction of the IT company's 'KITS Campus' facility, ToI reported on August 11.
L&T group's revenues surged rose 20 times to Rs 1.83 lakh crore since 1999: Naik
A M Naik has chaired the annual general meeting for the last time as the head of the Larsen & Toubro (L&T) group, as he prepares to become chairman emeritus on September 30th. Since he joined as a junior engineer in 1965, L&T’s revenue has grown from Rs 5000 crore to Rs 1.83 lakh crore on a like-to-like basis, while its share price has risen 15,000% and its market capitalisation 20 times.
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L&T, Navantia sign teaming agreement for Project 75 (India) submarine program
Larsen & Toubro (L&T) on Monday said it has signed a teaming agreement with Spain-based Navantia for submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine programme. P75 (India) Submarine Project is expected to be valued at €4.8 billion (over Rs 43,500 crore) and is India‘s largest defence acquisition project.
Million-dollar-salary CEO club witnesses 37 per cent rise in FY22 despite headwinds
According to a TOI report, 46 new members earning a million-dollar salary (over Rs 7.8 crore with the rupee pegged at 78/$) entered the elite club in FY22. The number went up to 171 which had contracted by 17 per cent to 125 in FY21. The total compensation of C-suite executives has surged by 55 per cent to Rs 3,957 crore, with the average salary at about Rs 23 crore.
L&T Finance explores exiting realty projects lending business
The company is also looking to partner with dedicated funds to create a platform which will commit funds to the infrastructure projects. This will help the company in eventually bringing down its loan book in the segment.
L&T to partner with IIT Bombay for green hydrogen tech development
Indian multinational conglomerate company Larsen & Toubro on Tuesday informed exchanges that it will be collaborating with the Indian Institute of Technology-Bombay to jointly pursue research and development work in the green hydrogen value chain.
L&T, Microsoft sign partnership to develop cloud offering for regulated sector
Under the MoU, the two companies will set up a joint governance group to define future platform designs, investments, and commercial/business models to service the regulated sectors’ emerging technology requirements.
L&T, ReNew partner for $2 bn green hydrogen biz in 2 years
The partnership between ReNew and L&T, will allow both companies to pool their knowledge, expertise and resources to take maximum advantage of this transition, ReNew Power chairman and CEO Sumant Sinha said.
L&T's manufacturing facility in Hazira renamed
Larsen & Toubro (L&T) on Wednesday said its manufacturing facility in Hazira, Surat, has been renamed as A M Naik Heavy Engineering Complex.
L&T signs pact with Tamil Nadu govt to build data centre at Kanchipuram
L&T will establish hyperscale data centres at Kanchipuram to provide comprehensive solutions and end to end data centre services
L&T's construction arm bags 'large' order from CPWD
"The construction arm of L&T has secured a large order... to construct Common Central Secretariat Integrated Buildings 1, 2 and 3 in Plot 137, New Delhi with a built-up area of approx 48.11 Lakh Sq ft including its operation and maintenance," a company statement said.
L&T-built Offshore Patrol Vessel ICGS Vigraha commissioned into Indian Coast Guard
Offshore Patrol Vessels (OPVs) are long-range surface ships, capable of operation in maritime zones of India, including island territories with helicopter operation capabilities. Their roles include coastal and offshore patrolling, policing maritime zones of India, control and surveillance, anti-smuggling and anti-piracy operations with limited wartime roles.
L&T to donate six oxygen plants to Tamil Nadu government hospitals
As a part of its corporate social responsibility to help fight COVID-19, the company has been distributing oxygen plants, high-end medical equipment like ventilators, mobile X-ray units and oxygen concentrators, among others. L&T said it has supplied oxygen ventilators, mobile X- ray units, oxygen concentrators to government hospitals in Madurai, Tuticorin, Tirunelveli, Virudhunagar, and at the COVID-19 Care Centres in Chennai.
L&T intensifies efforts to retain workforce: CEO
"What has happened after the first wave (of COVID-19) is that much of the labourers went back to their villages and towns. With huge efforts, I can talk about Larsen & Toubro, we brought many of them back," company's CEO and managing director S N Subrahmanyan said.
L&T delivers first two oxygen generating units to hospitals in Surat
The company in a statement said that SMIMER Hospital and the New Civil hospital both received the first of the 22 oxygen generators capable of producing 700 litres/minute of oxygen.
L&T recruits 22% women at trainee level across major businesses in 2020
Figures shared by L&T, suggest a rise in the intake of women at the level of graduate engineer trainees (GETs), and post-graduate engineer trainees (PGETs).
Larsen & Toubro opens digitally-enabled Corporate Experience Centre 'Planet L&T'
"L&T, India's leading engineering, procurement and construction projects, manufacturing, defence and services conglomerate, opened the doors to 'Planet L&T,' its sprawling new digitally-enabled corporate experience center," the company said in a statement.
L&T sells UK marine tech arm Servowatch Systems to Rolls-Royce
L&T’s wholly owned subsidiary, Larsen & Toubro International FZE, runs an integrated marine automation solutions provider Servowatch Systems. The unit has 44 employees in the UK and India who work on integrated marine automation solutions for navies, commercial vessels and large yachts.
L&T bags order from Tata Steel for supply of mining equipment
The scope of order for L&T's construction and mining equipment business includes supply of equipment and full maintenance contract for 60,000 hours of equipment operation.
L&T shares advance 5% as its unit bags biggest-ever order
The scope of the order includes supply of equipment and full maintenance contract for 60,000 hours of equipment operation.
L&T assures Mindtree shareholders of further impetus to long-term growth
This month, L&T became the new promoter of Mindtree after acquiring 60.06 per cent stake.
L&T says Mindtree stake buy just an investment, asks other promoters to be rational
Subrahmanyan says L&T intends to provide some guidance to Mindtree.
L&T wins Rs 1,454-crore contracts including in Egypt
The Smart World & Communications Business Unit secured an order worth Rs 864 crore for implementation of 5 million Smart Meters across 16 cities of Uttar Pradesh and Haryana, the company said.
L&T elevates S N Subrahmanyan as Deputy MD and President
The company has been grooming executives from within the company for leadership roles and Subrahmanyan was seen as leading the race for the top spot.
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