Larsen & Toubro is planning to unveil a five-year strategic plan next week as part of a de-risking move.
“We are launching our five-year strategic plan for the Group on (July) 12th,” Larsen & Toubro Chairman A M Naik said here.
“The services business is at the centre of L&T core vision going forward. In our next five-year plan, we have very clearly narrated that these four businesses will be very important to L&T Group,” he said at a news conference to launch the L&T Infotech IPO. The group has a presence in realty, infotech and financial services space, besides the flagship EPC company.
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L&T chairman said that 70 per cent revenue of the Group, which counts on the engineering, procurement and construction business as its flagship business, comes from the “risky” project side and hence, services can be of help in de-risking. “If one project does not do well, you lose a lot of money. While in the services business, be it financial services, be it IT or technology services and to an extent, when we have our land bank, the realty. They are steady business with steady income and profits. So, it is a big cushion to the rest of the portfolio which is very risky.”