LARSEN & TOUBRO LTD.

Executes engineering, procurement and construction (EPC) projects across infrastructure, energy and industrial sectors, alongside running IT services, financial services and a hi-tech manufacturing base. In FY26, Infrastructure Projects — covering buildings, factories, transportation and metals-and-mineral facilities — generated Rs 135,344.58 cr (46.8% of segment revenue), including recent wins like an 18 MTPA iron-ore handling plant in Chhattisgarh, a steel plant expansion (2.5 to 7.1 MTPA) in West Bengal and a 26-tower Mumbai housing redevelopment. Energy Projects (hydrocarbon onshore, thermal and renewables EPC) added Rs 54,888.59 cr (19.0%), with orders including a six-year EPC framework with Petroleum Development Oman, hydrocarbon storage work for Kuwait Oil Company and ultra-supercritical thermal power for NTPC. IT & Technology Services brought in Rs 53,946.53 cr (18.7%), Financial Services Rs 17,283.43 cr (6.0%), Hi-Tech Manufacturing Rs 14,488.79 cr (5.0%), Development Projects Rs 5,118.51 cr (1.8%) and Others Rs 7,978.01 cr (2.8%). The group's order book at end-Q1 FY27 carries international orders at 52% with Middle East at 71% of the international book, while private-sector share of the domestic book has risen to 40% from 27% a year earlier. Costs are dominated by materials (35.2% of FY26 revenue), employee costs (18.3%) and other operating expenses (36.6%), with depreciation at 1.5% and capex at 1.7% of revenue. Customers are central and state governments, public-sector undertakings and private-sector owners across India, the Middle East and Europe, with materials as the largest input cost.