L&T expects its international business to outpace domestic operations.
| Photo Credit: Reuters
Larsen & Toubro (L&T) aims to nearly double its order book to ₹15 lakh crore by 2031, driven by expansion in energy, electrolysers, semiconductors, data centres and manufacturing, President and Whole-time Director (Finance) R Shankar Raman said on Wednesday.
The engineering and construction conglomerate is also focusing on renewables, hydrogen, automation and strengthening its services business to drive long-term growth.
“Manufacturing thrust, consolidation and automating construction infrastructure, making the new areas of renewable and hydrogen work and pushing the services business forward, all of these together, will make the company far far stronger from what it is today by 2031,” Mr. Raman told journalists.
“Since order book is a good indicator, if we grow at 15% year on year till 2031 we will have an order book of ₹15 lakh crore from sub ₹8 lakh crore currently,” he said.
L&T also expects its international business to outpace domestic operations. While India accounted for 75% of revenue a few years ago, the split between India and the Middle East is now 50:50.
Assuming domestic business sustains its current growth trajectory, India and the Middle East could each contribute 40% of revenue by 2031, with new geographies accounting for the remaining 20%. These markets include Europe, Central Asia and the Far East.
“So far we have grown in the west [of India], the east could open up. India will not get to the 75% level what it used to be even though it is a growth market,” Mr. Raman said.
Saudi Arabia is currently L&T’s largest overseas market, followed by the UAE and Qatar. Despite the regional conflict, almost all its sites are operating normally.
Published – October 28, 2026 08:09 pm IST
