Larsen & Toubro Ltd. Executive Chairman AM Naik is confident that the engineering and construction giant will meet its 10 percent growth forecast this fiscal and maintain the level in the financial year 2017-18.
Naik told BloombergQuint’s Menaka Doshi that his optimism stems from the fact that the company historically has had a good fourth quarter and the execution of projects is generally accelerated in the last three months of the fiscal.
L&T has lowered its guidance for the current fiscal to 10 percent from 12-13 percent earlier.
The company’s revenue grew 1.38 percent in the third quarter ended December 2016 to Rs 26,287 crore from Rs 25,928 crore in the year-ago period. The consolidated order inflow fell 10 percent year-on-year to Rs 34,885 crore in the third quarter. Read More…