SN Subrahmanyan, Chairman & Managing Director of Larsen & Toubro (L&T), said generative Artificial Intelligence has emerged as a game changer. Addressing shareholders at the 79th, and his first, annual general meeting after taking charge Subrahmanyan said the company is leveraging technology to strengthen its projects.

“Generative Artificial Intelligence (GenAI) has emerged as a game-changer, and the company is leveraging its power to enhance its processes across the project life cycle - from tendering to contract management to design execution, and operation & maintenance. To fuel this innovation, the company has launched a collaborative platform connecting aspiring data scientists with domain experts and technology champions to develop cutting-edge, future-proof solutions,” Subrahmanyan said.

He said the Centre’s effort to strengthen the domestic economy has facilitated ease in doing business.

Oasis of opportunity

“India today stands tall as an oasis of opportunity amidst global turmoil and supply chain disruptions. The Government’s continuous efforts to strengthen the domestic economy through increased capital spending, policy shifts towards improving the ease of doing business, and the creation of a world-class digital infrastructure and payments platform have all contributed to an annual GDP growth rate of at least 7 per cent for the last three years, and over 8 per cent in the year under review. The pursuit of ‘Aatmanirbharta’ (self-reliance) through innovative schemes like the Production Linked Incentive (PLI) scheme, the Start-Up India scheme, and the National Infrastructure Pipeline, has set a strong foundation to realise a Viksit Bharat,” he said.

L&T’s order book comprised 62 per cent from the domestic market, 35 per cent from the Middle East market and other international geographies constituted 3 per cent. Further, in FY24, L&T constituted a green energy council with global sector experts to provide expertise and strategic guidance on technology trends in green energy.

“The annual group order Inflow surpassed ₹3 lakh crore, registering an impressive 31 per cent growth year-on-year. This was achieved because of major international order wins in Hydrocarbon and Infrastructure businesses. A large, growing, and diversified order book of ₹4,75,809 crore as of March 31, 2024, with a growth of 20 per cent over the previous year, provides clear revenue visibility in the medium term. The company stands tall in the midst of challenges, armed with strategic foresight, technological prowess, and an unyielding commitment to excellence,” Subrahmanyan said.

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