Construction
The hidden cracks in L&T
![The hidden cracks in L&T](https://img.etimg.com/thumb/msid-65615466,width-1015,height-761,imgsize-142235,resizemode-8/prime/infrastructure/the-hidden-cracks-in-lt.jpg)
![The hidden cracks in L&T](https://img.etimg.com/thumb/msid-65615466,width-1015,height-761,imgsize-142235,resizemode-8/prime/infrastructure/the-hidden-cracks-in-lt.jpg)
Synopsis
The construction and engineering giant’s robust balance sheet conceals a vital concern: that its dream run might grind to a halt if it doesn’t address overdependence on domestic contracts and a sluggish order book.
"Growing up, we knew only two companies, L&T and Tata," Anil Manibhai Naik, group chairman of Larsen & Toubro (L&T), said last year. Naik was explaining why L&T was his dream job. The company continues to be the dream destination for many. After all, in India, it is the gold standard in the tough construction-and-engineering business. Any firm in this space showing some sign of success — be it Punj Lloyd, Hindustan Construction
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