As competition in the infrastructure space hots up, Larsen & Toubro (L&T) CEO and MD, S.N. Subrahmanyan, has stressed that employees should not lose sight of client requirements.

“We must bear in mind that client requirements are our service parameters, and we must never lose sight of that. Managing client expectations is important because we are moving into a highly competitive environment in which we see the emergence of new business groups that are more entrepreneurial, aggressive and innovative,” Subrahmanyan said at an internal company event on Thursday.

He added that the company needs to be oriented towards the customer and the market to retain its edge. Being quality conscious, with focus on timely completion of services and delivery of products, should remain the core driving strategy.

“We have always practised the highest level of governance in this eight-decade-plus group. We should uphold the value systems and integrity that have been the hallmark of Larsen & Toubro over the years and not shy away from improvements. We should strive to set benchmarks going forward,” he said.

Over the years, the group had transformed itself from constructing structures to turnkey projects, and then evolved further to design and build. .

He urged the employees to add value to their services in order to handle growing competition in the infrastructure sector. Also, employees should work on expanding business interests, and at the same time keep track of competition.

Quarterly results

Last week, L&T reported a 9.9 per cent y-o-y rise in its consolidated net profit at ₹3,620.69 crore for Q4 FY22. Consolidated income rose to ₹53,366.26 crore from ₹49,116.16 crore.

The company expects its order inflow to touch ₹8–9-lakh crore by 2026, with the infrastructure segment alone accounting for ₹5–6-lakh crore. It has a debt of ₹1.2-lakh crore, with the debt of the financial services business accounting for ₹80,000 crore.

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