L&T sets target to double revenue in five years

L&TL&T is aiming to double its revenue to Rs 2 Lakh crore by 2021 achieving an order inflow in excess of Rs 2.5 lakh crores per annum owing to better economic conditions , Chairman AM Naik said.

With India’s GDP growth projected to touch 7.4% in 2016-17, India is the fastest growing economy in the world which can boost their performance, Naik said.

Government’s thrust on infrastructure and its ‘Make in India’ initiatives provide a range of opportunities for us, he said.

“The opening up of the Defence sector will lead to business opportunities worth Rs 13 lakh crores over the next 10 years. With the resolution of issues relating to fuel supply and a clearer understanding on nuclear liability issues, the Nuclear Power sector is expected to grow significantly in the years ahead.The estimated opportunity from this sector over the next 10 years is up to Rs 50,000 crores.”, said AM Naik, Group Executive Chairman.

With Modi’s ambitious plan to convert 100 cities to smart cities, each of these cities will have to be equipped with a combination of infrastructure and IT led operations for which the outlay of the proposal is going to be very large, addded the company.

“It is estimated that by 2022, over 110 million homes will require to be built in urban as well as rural areas to house India’s rapidly growing population,” Naik said.