L&T

L&T Finance reports 22% growth Q4 net profit

L&T Finance reports 22% growth Q4 net profit

L&T Finance Holdings’ net profit jumped 21.8 per cent year-on-year to Rs 171 crore in the fourth quarter of last fiscal, thanks to loan growth and rise in net interest income.

Loans grew 30 per cent year-on-year to Rs 33,300 crore. The net interest income jumped 27 per cent to Rs 478 crore, while other income increased to Rs 26 crore during the quarter under review.

However, the company’s net interest margins slipped 15 basis points (bps), from 5.81 per cent to 5.64 per cent.

L&T Bags Orders worth over 2,000 crores

L&T Bags Orders worth over 2,000 crores

In a recent report, it has been revealed that engineering and construction company Larsen and Toubro Ltd (L&T) has successfully secured orders of a great value.

The company announced on Thursday that new orders worth Rs. 2,080 crore had been secured by it across different business segments in the months of February and March.

CLSA upgrades L&T stock to ‘outperform’

CLSA upgrades L&T stock to ‘outperform’

Brokerage CLSA on Thursday upgraded Larsen & Toubro (L&T) from `underperform' to `outperform', after the company announced good earnings for the December quarter and said it was confident of meeting its target of new orders in the current fiscal.

Upgrading the L&T stock, CLSA said government's favorable policies and expected cuts in interest rates would be reflected in the engineering & construction giant's earnings by the second half of current fiscal.

L&T scales down outlook for new orders; projects lower margins

L&T scales down outlook for new orders; projects lower margins

With inflation, high rates of interest, and the slowing economy apparently taking a toll on the engineering conglomerate Larsen & Toubro (L&T), the outlook for new orders has been sharply scaled down by the $12-billion firm which is now projecting lower margins.

L&T Construction Bags Rs 797cr Building Tender

L&T Construction Bags Rs 797cr Building Tender

According to a regulatory statement, L&T Construction, during the second quarter this fiscal, accounted that it has successfully won an order worth Rs 797 crore in the building and factories segment business.

However, the company said in a regulatory filing to the Bombay Stock Exchange (BSE), company officials accounted that the order has been secured from a chief mixed use building developer, which predominantly comprised of residential business deals such as retail and commercial developments at construction sites in Mumbai.

L&T Infra Fin retail bond issue to open Feb 7

L&T Infra Fin retail bond issue to open Feb 7

On Thursday, L&T Infrastructure Finance has informed that its retail bond issue will open on 7th of February and will be closed on 7th of March. L&T Infrastructure Finance is a fully owned unit of Indian engineering company Larsen & Toubro.

The annual issue price of L&T Infrastructure Finance is at 8.2 percent and 8.3 percent for the cumulative option. The chief executive of the firm has informed this in his statement issued to Reuters on Wednesday.

Formation of JV between L&T, Japan’s Kobe Steel

Formation of JV between L&T, Japan’s Kobe Steel

Engineering and construction major Larsen & Toubro (L&T) has signed a Joint venture with Japan-based Kobe Steel for manufacturing internal mixers and twin screw roller-head extruders for the tyre and rubber industry for global markets, including India.

They both complement each other in term of their strengths. The company said that both of them will emerge as a strong team in the global rubber machinery market. They will provide state-of-the-art products to their customers.

L&T to make its key units public by year end

L&T to make its key units public by year end

India's largest engineering and construction Company, Larsen & Toubro is planning to separate its main subsidiaries and make them separate entities. And for the purpose of the same it is going to go for public floats as well by the end of this year.

The process will begin with its finance arm and the rest will follow suit. This is being done, said the company, to unlock the value of all its main subsidiaries.

L&T Planning to Hire Five Investment Banks to Handle IPO

L&T Planning to Hire Five Investment Banks to Handle IPO

In order to raise between $200 million and $300 million, L&T Finance Ltd. is planning to hire five investment banks to handle a proposed initial public offering.

As per the sources, the Companies, which are expected to be hired by the non-banking finance company, include JM Financial Ltd., Citigroup and HSBC. The supporting bankers, which will be hired by the L&T Finance for the planned IPO, are expected to include Barclays and Credit Suisse.

RBI providing infra NBFC status to L&T wing

RBI providing infra NBFC status to L&T wing

Amidst the way that leads towards the easy getaway for finance for L&T Infrastructure Finance Company, today the auxiliary of Larsen & Toubro, established the position of Infrastructure Finance Company through the Reserve Bank of India, within the total arrangement of non-banking finance company.

In the latest happenings, RBI had crafted a distinct group as infra NBFC. As per the RBI, NBFCs is clutching a minimum of 75 per cent in their overall assets for funding the infrastructure projects that can be categorized as infrastructure NBFC.