Larsen & Toubro (L&T) CEO has said that the company is aiming to achieve a turnover of Rs 4 lakh crore by 2026.
The company is also planning to pour in segments like hydrogen production and Information Technology.
“(In the) next four years, we want to double our turnover, which is about Rs 1,60,000 crore this year. By 2026, it will be nearly Rs 4 lakh crore. We are positive and gung-ho about it,” Subrahmanyan said while speaking about the growth trajectory of his company during an interactive session held at the Gujarat Chamber of Commerce and Industry (GCCI)
“We are looking at hydrogen because we believe that would be the future of energy in India,” he said. He further added that India spends about USD 180-200 billion buying fossil fuel every year. As the economy grows, the number of vehicles is bound to grow alongside, so the company is increasing the country’s dependence on fossil fuel.
Subrahmanyan said L&T would be investing nearly Rs 40,000 crore in the next three to four years.
“We are going to invest in hydrogen. We will invest in electrolysers, grid batteries, hydrogen plants and that will be a big investment that L&T does. We will be investing in certain other technological matters… We have started a high-end engineering education programme. These are the kinds of businesses that will see more investments for us. All this will be about Rs 15,000-20,000 crore of investments in the next three to four years,” said the official from L&T.
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