L&T exceeds FY14 earnings estimates; sets healthy targets for FY15
In its recently-released financial report for FY 14, bigwig engineering firm Larsen & Toubro (L&T) has posted earnings figures which have surpassed estimates; and has also set healthy growth targets for FY15.
The healthy growth targets which L&T has set for 2014-15 underscore an optimistic outlook projected by the company because of the hope that an expected infrastructure push by the Modi-led new government will help bring a turnaround in demand.
Against that backdrop, L&T Chairman AM Naik said on Friday that, going by the indications, the change in government at the Centre will apparently bring about an improvement “sooner than what we had expected.”
Naik further added that L&T is an excellent position to get orders; thanks to the new Government’s impetus on infrastructure, as well as it attempts to give a boost to other sectors, and also possibly the privatisation of defence.
L&T’s projections of a boom period ahead largely stem from the fact that Prime Minister Narendra Modi has assured that the new government will work towards a revival of the economy, with infrastructure likely to be one of the key focus areas for driving overall growth.
Since L&T is India’s biggest engineering and construction form, it stands to benefit from the new government’s increased expenditure on infrastructure.
Source – The Economic Times
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