LT sees green shoots; eyes investment avenues

Written By Unknown on Jumat, 22 Agustus 2014 | 23.25

AM Naik, Group Executive Chairman, L&T is very optimistic about the growth in the Indian market looking at the new government's strategies and policies. He feels all of that is in place and he feels that a quicker implementation of projects would happen.

Engineering and construction giant L&T  is gearing up for a good FY15. The company has told shareholders that growth will be led by roads, airports and real estate businesses, both domestically and on foreign shores.

AM Naik, Group Executive Chairman, L&T is very optimistic about the growth in the Indian market looking at the new government's strategies and policies. He feels all of that is in place and he feels that a quicker implementation of projects would happen. The struck projects are also being taken forward and implementation would progress. The only concern he raised was on getting money and he said that if the government is looking at bringing up large infrastructure projects, they need to lure larger investors both domestically as well as international investors with good returns on their investments, at least 16 percent when they are talking about in rupee terms or at least factoring in the currency fluctuation, it should be at least 8 to 9 percent and the government should work on that.

Looking that the projects that are coming up, he said even the power sector space one area that has seen a lot of projects being stalled. The coal mines are getting clear the direction that the government is taking is very clear that they want to clear up the coal mines and hence at least 25,000 megawatt power plants would come up for bidding and that could open up opportunities. Metro and monorail is one opportunity that the company is looking at and is well geared to take advantage of.

In the heavy engineering space, he said that the domestic nuclear segment is looking up. At least four nuclear power projects worth 700 megawatts each. These opportunities could come up by the end of the year and L&T could be one of the forerunners in these project bids.

Airport and water projects are ones that the company is also looking at. In water projects, they are looking at least 2,500 crore worth of orders. In the Middle East, international market and opening up for water distribution and canal line projects in India and would bid for that. One quick comment on the railway projects he said with the dedicated freight corridor plans coming up and implementation progressing he sees that their consortium with the Japanese company could fetch bids worth at least Rs 20,000 crore.

Larsen stock price

On August 22, 2014, Larsen and Toubro closed at Rs 1536.55, up Rs 4.60, or 0.30 percent. The 52-week high of the share was Rs 1774.70 and the 52-week low was Rs 678.10.


The company's trailing 12-month (TTM) EPS was at Rs 62.86 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 24.44. The latest book value of the company is Rs 362.65 per share. At current value, the price-to-book value of the company is 4.24.


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